Date & Time
Wednesday, October 9, 2024, 5:00 PM - 6:30 PM
Name
Deteriorating Condo Buildings and Community Resilience
Description

The problem of aging condominium buildings with significant repair needs was thrust sharply into the spotlight with the 2021 collapse of Champlain Towers in Surfside, Florida. Large condo complexes have large repair and maintenance needs to repair and maintain their facades, foundations, and major systems. When condo owners face a special assessment that is beyond their ability to pay or exceeds the equity in their property, some owners walk away. This session delves into the complex landscape of foreclosures impacting condo units, and how new state legislation, creative financing, and increased city inspections are being rapidly put in place to save condo buildings.