Senior Housing Surplus Seen as Boomers Spur Building Boom
May 19, 2014 —
Brian Louis – BloombergReal estate developers are betting big on U.S. housing for the elderly, preparing for a surge in demand as the population of senior citizens almost doubles in the next 35 years. They may be building too fast.
A jump in supply is forecast to cut growth in senior-housing net operating income to 1.8 percent in 2015 and 1.4 percent in 2016 from 3.3 percent this year, according to Green Street Advisors Inc. The increase may hurt health-care real estate investment trusts and companies including Brookdale Senior Living Inc. (BKD), which is buying competitor Emeritus Corp. (ESC) for about $1.4 billion to become the biggest owner of senior properties, the research firm said.
“Increased supply is always worrisome in any type of commercial real estate,” said Jim Sullivan, a managing director at Newport Beach, California-based Green Street. “In senior housing, new construction has ramped up considerably over the last two years.”
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Brian Louis, BloombergMr. Louis may be contacted at
blouis1@bloomberg.net
Tenants Underwater: Indiana Court of Appeals Upholds Privity Requirement for Property Damage Claims Against Contractors
April 25, 2022 —
Melissa Kenney - The Subrogation StrategistIn United States Automatic Sprinkler Corp. v. Erie Ins. Exch., et al., No. 21A-CT-580, 2022 Ind. App. LEXIS 87 (Automatic Sprinkler), the Court of Appeals of Indiana (Court of Appeals) considered whether there is a privity requirement for property damage claims against contractors. The court imposed a privity requirement. The court also addressed whether a subrogation waiver in a contract with a tenant applied to damage caused by work done outside the contract, at the landlord’s request. The court held that the waiver did not apply.
In this case, United States Automatic Sprinkler (Automatic Sprinkler) contracted with a tenant (Contract Tenant) to inspect and test a sprinkler system at a commercial building in Indiana. The contract included a waiver of subrogation provision. The building landlord subsequently hired Automatic Sprinkler to repair a leak in the sprinkler system. After completing the repairs, the system failed and flooded the building, causing significant property damage to several tenancies.
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Melissa Kenney, White and Williams LLPMs. Kenney may be contacted at
kenneyme@whiteandwilliams.com
Emotional Distress Damages Not Distinct from “Annoyance and Discomfort” Damages in Case Arising from 2007 California Wildfires
February 16, 2017 —
Kirsten Lee Price & Lawrence S. Zucker II - Haight Brown & Bonesteel LLPIn Hensley v. San Diego Gas & Elec. Co., (No. D070259, filed 1/31/17), the California Court of Appeal for the Fourth Appellate District held that emotional distress damages are available on claims for trespass and nuisance as part of “annoyance and discomfort” damages.
In Hensley, plaintiffs sustained fire damage to their home and property during the 2007 California wildfires. The Hensleys were forced to evacuate as the fires advanced. Although their home was not completely destroyed, it sustained significant damage and they were not able to return home permanently for nearly two months. Thereafter, the Hensleys filed suit against San Diego Gas and Electric Company (“SDG&E”) asserting causes of action for trespass and nuisance, among others. Mr. Hensley, who had suffered from Crohn’s disease since 1991, further claimed that as a result of the stress from the fire, he experienced a substantial increase in his symptoms and his treating physician opined that “beyond a measure of reasonable medical certainty... the stress created by the 2007 San Diego fires caused an increase of [Mr. Hensley’s] disease activity, necessitating frequent visits, numerous therapies, and at least two surgeries since the incident.” SDGE moved, in limine, to exclude evidence of Mr. Hensley’s asserted emotional distress damages arguing he was not legally entitled to recover them under theories of trespass and nuisance. The trial court agreed and excluded all evidence of such damages.
Reprinted courtesy of
Kirsten Lee Price, Haight Brown & Bonesteel LLP and
Lawrence S. Zucker II, Haight Brown & Bonesteel LLP
Ms. Price may be contacted at kprice@hbblaw.com
Mr. Zucker may be contacted at lzucker@hbblaw.com
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Houston Bond Issue Jump-Starts 237 Flood Control Projects
September 10, 2018 —
Louise Poirier & Pam Radtke Russell - Engineering News-RecordMore than $3 billion in flood risk reduction and repair projects can move forward in Houston following a vote held on Hurricane Harvey's anniversary that authorized a $2.5-billion bond program.
Reprinted courtesy of
Louise Poirier, ENR and
Pam Radtke Russell, ENR
Ms. Poirier may be contacted at poirierl@enr.com
Ms. Russell may be contacted at Russellp@bnpmedia.com
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Navigate the New Health and Safety Norm With Construction Technology
August 03, 2020 —
Jeremy Larsen - Construction ExecutiveSafety has always been a pressing issue in construction, and as states reopen and construction projects pick up steam once again, the industry will become even more closely scrutinized than before. Construction safety looks a lot different than it did six months ago. In addition to the concerns around keeping workers safe on construction sites, today’s contractors are faced with a whole new category of risk, and with new health and safety measures that may vary by county, state or region. New requirements range from social distancing and limits on the size of crews, to requiring masks and temperature checks for all workers.
OPERATING IN THE NEW NORM
This sudden onset of COVID-19 put otherwise healthy businesses into a state of chaos that, months later, is still hard to navigate. By March of 2020, reports indicated that nearly one-third of construction projects had come to a halt. Now, as the industry emerges, balancing business continuity efforts with trying to get crews back to work and jobsites moving again will no doubt present challenges. New health and safety measures, plus the fact that no one wants to touch paper in the field, will add another layer of administrative and procedural oversight to the construction process. Of course, these measures are absolutely needed, but construction businesses can’t ignore the fact that it changes the very way projects and jobsites are managed. And, without the right tools in place, it may be a bumpy ride.
Reprinted courtesy of
Jeremy Larsen, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.
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Mr. Larsen may be contacted at
jeremy.larsen@viewpoint.com
Construction Defect Attorneys Call for Better Funding of Court System
June 28, 2013 —
CDJ STAFFThe construction defect law firm Anderson Shoech has a solution to some of the problems with the California courts. They note that cases often work their way through the system more slowly than they did in the past, due to “unprecedented cuts of over $1 billion from the State Court budget.” Prior to the cuts, cases were resolved “within six months to a year.” Under the current conditions, those involved in a lawsuit “would be lucky if their case was heard within 18 months of filing and could expect at least two full years to pass.”
They recommend that California return to appropriately funding the court system. Failure to do so could cause business to go to states “with a functioning and predictable court system.”
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NYC Airports Get $500,000 Makeover Contest From Cuomo
October 22, 2014 —
Freeman Klopott and Allyson Versprille – BloombergGovernor Andrew Cuomo is holding a competition for plans to upgrade New York City’s two airports, which consistently rank as the worst in the U.S. for design, cleanliness and delays.
Cuomo announced the $500,000 design contest for John F. Kennedy International and LaGuardia airports at a press briefing in Queens with U.S. Vice President Joe Biden, who in February caused a stir when he likened LaGuardia to a facility in a third-world country.
“This is the next phase for New York,” Cuomo said today at Vaughn College of Aeronautics and Technology in Flushing, home of LaGuardia.
The Port Authority of New York and New Jersey, which runs the airports, is allocating $8 billion to construction at the two facilities and Newark-Liberty International over the next 10 years. That includes $2.2 billion as part of a $3.6 billion redesign of LaGuardia’s 50-year-old central terminal, voted America’s dirtiest and most poorly designed by readers of Travel & Leisure magazine in 2012.
Mr. Klopott may be contacted at fklopott@bloomberg.net; Ms. Versprille may be contacted at aversprille1@bloomberg.net
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Freeman Klopott and Allyson Versprille, Bloomberg
Condominiums and Homeowners Associations Remain Popular Housing Choices for U-S Homeowners
July 11, 2022 —
Community Associations InstituteFalls Church, Va., July 06, 2022 (GLOBE NEWSWIRE) -- Maintenance-free, safety, and cleanliness are top features that make community associations a popular choice and lifestyle for millions of Americans. According to results from the 2022 Homeowner Satisfaction Survey, the overwhelming majority (89%) of homeowners and condominium association residents rate their overall experience of living in a community association as "very good" or "good" (67%), or neutral (22%).
At a time when community matters most, the majority (87%) said they knew their home was part of a community association and nearly half (45%) said the association made them more interested in the home. Eighty-seven percent of respondents believe that their governing board "absolutely" or "for the most part" serves the best interest of the community. More than half of residents (68%) believe that rules in their communities protect and enhance property values.
Results from almost identical national surveys conducted in 2005, 2007, 2009, 2012, 2014, 2016, 2018, 2020, and 2022 are strikingly consistent. The online survey of 1,507 homeowners and condominium association members nationwide with oversampling was conducted in in four states: Illinois, New York, North Carolina and Washington.
About Community Associations Institute
Since 1973, Community Associations Institute (CAI) has been the leading provider of resources and information for homeowners, volunteer board leaders, professional managers, and business professionals in the more than 355,000 homeowners associations, condominiums, and housing cooperatives in the United States and millions of communities worldwide. With more than 43,000 members, CAI works in partnership with 36 legislative action committees and 63 affiliated chapters within the U.S., Canada, South Africa, and the United Arab Emirates as well as with housing leaders in several other countries, including Australia, Spain, and the United Kingdom. A global nonprofit 501(c)(6) organization, CAI is the foremost authority in community association management, governance, education, and advocacy. Our mission is to inspire professionalism, effective leadership, and responsible citizenship—ideals reflected in community associations that are preferred places to call home. Visit us at www.caionline.org, and follow us on Twitter and Facebook @CAISocial.
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