Well, OK, as long as the survivors and heirs of the deceased get the money and not someone else like a politician or other big wig. Although I’ve been hearing many of the heirs want a memorial.
Personally, I think it’s nuts to buy property in Florida right now between climate change and rising oceans but that’s me.
That seems like an awfully high price for just the property. The original building had about 100 units which averaged less than $1mil each. So that’s means they’re close to the break even point before they even start.
have they even examined the sub-foundation? The forensics of that is going to dictate the investment needed.
Not sure what you mean. I can’t imagine they’d reuse any of the old pilings/caissons—especially with the questions that have been raised about the 1980 contractor having skimped on rebar. They’ll put down entirely new supporting piers for any new highrise, both for public relations/peace of mind and because the new building will undoubtedly be much taller.
there’s a 12 height restriction in Surfside
^12 story
the structural failures regarding rebar is a separate issue from the pier support structure. It’s not that they will use the original pylons but that there may be significant issues with the hydraulic forces of ground water linked to the rise/fall of the tide that affect the garage floor base that sits on top of the pylon system.
Any guesses as to how many million dollars just to clear the site?
A pool of $83 million to be split up.
A bit more than $83 million:
I am surprised there was that much insurance carried by the various defendants.
The article said “numerous defendants” so it could be the city involved also.
Port Royale Condominium at 6969 Collins Avenue was declared unsafe and evacuated last night out of concern that it, too, will collapse.
A structural engineering report prompted the evacuation of the 164-unit structure, which is in the process of undergoing a required recertification. An engineer discovered that a main support beam identified for repair 10 months ago had shifted and that a crack in the beam had expanded, and other structural supports may need repair as well, the report said.
“There’s cracks in the column, cracks in the base, I mean in the garage, in the two storage garages, there’s cracks in the beams, everywhere,” Marsh Markaj, a building resident who said he works in construction and noticed the problems, told WPLG-TV.
No worries - a few Acro props will sort it out.
As of 11am EST today haven’t the marketing front page from their site goes like…
“…steps from beautiful Miami Beaches, The Port Royale offers a robust resort-style lifestyle and direct access to white sand beaches…”
Already not exactly the best written copy, the choice of the word “robust” especially stands out now.
Well, they may not be lying about the “direct access to white sand beaches” part.
Nice.
I’m wondering if there’s a sinkhole lurking under all that real estate.
Parking garage.
Anybody look at the Champlain Towers site in Google Maps Street View lately?
Just took a peek. And?