A Florida law intended to prevent tragedies like the Surfside condominium collapse will place a huge financial burden on condo associations and strain architecture and engineering resources in the state.
The law requires that by the end of 2024 condominiums that are at least three stories tall and within 3 miles of the coast be inspected by a licensed engineer or architect when they are 25 years old and buildings more than 3 miles inland at 30 years old. The law will be financially burdensome for many associations, especially older ones.
Condo associations had been allowed to waive reserve funds for maintenance, but will now be required to have enough money in their reserves by 2025 to fund all repairs needed to maintain their buildings’ structural integrity. This work could easily run into the hundreds of thousands of dollars.
What’s more, thousands of condos will need to have inspections over a short period. It will be difficult, if not impossible, for architects and engineers to get to all that work done within the prescribed deadline.
The law applies to 1.5 million condos operated by nearly 28,000 associations. Some older properties in the most desirable coastal areas are expected to be targets for developers because owners will not be able to absorb the cost of capital assessments to make extensive repairs. Developers would demolish old properties and build new luxury properties on site.
Related Stories
| Dec 22, 2011
Federal home weatherization program has impacted 6.8 million homes
More than 6.8 million homes have been weatherized using federal, state, utility, and other funds under the American Recovery and Reinvestment Act.
| Dec 22, 2011
Group developing BIM data standards
A collaboration among Georgia Tech’s Digital Building Lab, the Precast Concrete Institute, the American Concrete Institute, and the American Institute of Steel Construction aims to develop global standards for transportation of three-dimensional digital models among fabricator, architecture, engineering, and construction groups.
| Dec 22, 2011
New green code spells out thermal requirement for roof retrofits
The 2012 International Green Construction Code (IgCC) includes a straightforward approach to minimum thermal requirements for roof and wall systems.
| Dec 22, 2011
AGC’s safety conference Jan. 11-13 in San Antonio
The Associated General Contractors of America’s national meeting for safety and health professionals will take place Jan. 11-13, 2012 in San Antonio, TX.
| Dec 22, 2011
Proposed New York City zoning revamp encourages rooftop solar and wind energy
New zoning regulation proposals to make it easier for building owners in New York City to make their structures more sustainable have entered the public approval process.
| Dec 15, 2011
Dayton, Ohio schools saving $2.6 million annually by building to LEED
On average, green schools save about $100,000 a year on operating costs, including energy and water savings.
| Dec 15, 2011
Building to LEED standards can pose new risks for construction workers
Workers on these projects suffer a 24% increase in falls to lower levels during roof work, which researchers attributed to the installation of solar panels, and a few other risks.
| Dec 15, 2011
NRDC charges Maine governor with weakening green wood requirement
The FSC program is administered through the Leadership in Energy and Environmental Design (LEED) and requires wood to be harvested in a sustainable way.
| Dec 15, 2011
Post-tornado, Tuscaloosa seeks to create walkable urban, retail areas
Block sizes initially were limited to a maximum perimeter of 1,750 feet, with no side of the block being longer than 500 feet.
| Dec 15, 2011
Allentown, Pa. city council asked to repeal union-friendly law
The mayor of Allentown, Pa. asked the City Council to repeal a year-old ordinance that forces contractors to hire union workers for large city projects funded with state and federal dollars.
