When Buildings Collapse It Gets Noticed
When a building collapses it gets noticed. It has been a while since Americans woke to the shocking news of the collapse of the 12-story Champlain Towers South beachfront condominium in Surfside, Florida. Following the collapse, Miami-Dade Mayor Daniella Levine Cava ordered all buildings over 40 years old to undergo an “immediate” audit on their structural well-being.As a result of this, the city of North Miami Beach ordered the evacuation of more than 300 residents of the 10-story Crestview Towers Condominium. After reviewing an engineering field study dated Jan 11 of the 156 unit building it deemed the building structurally unsafe. The building inspection report found both structural and electrical issues.
 |
| A Bad Structural Report Is Poison |
This is the first major residential structure to be closed after the June 24th Surfside tragedy but with officials on edge it may not be the last. City Manager Arthur H. Sorey III said in a news release. “In an abundance of caution, the City ordered the building closed immediately and the residents evacuated for their protection, while a full structural assessment is conducted and next steps are determined,”
What escapes most individuals is the economic implications of this new, shall we call it, development. This is a massive ball crusher for all those that have sunk a good deal of their wealth into such buildings. If in coming years more buildings begin to collapse this will change the value of certain types of buildings in a way most people never thought possible.
After the collapse of Champlain Towers, fears began to spread up and down Miami as residents who own condos in aging buildings grew concerned engineering audits could bring to light millions of dollars in repairs that would jack up homeowners association fees…
…click on the above link to read the rest of the article…
