We live in earthquake country. If you didn’t know this, you’re probably not only new to the Bay Area but new to life.
Yesterday the Chronicle ran an article on legislation introduced by Mayor Ed Lee. Under that legislation, seismic upgrades would be required for housing that encompasses about 58,000 residents and businesses with 7,000 employees. That translates to estimated costs of $60,000 to $130,000 for each property owner who must make the upgrade.
There’s been phenomenal foot-dragging around starting to require seismic retrofitting. Ironically, it’s never been cheaper to do because of low interest rates.
What’s more, the article doesn’t connect the dots on how multi-unit buildings include condo buildings. I’ve spoken with structural engineers who have told me that some of San Francisco’s best known high-rise condo buildings will ultimately have to do expensive seismic work, albeit many years out, given how slowly the city moves on such things.
City officials have come up with a list of more than 4,500 buildings that are possible “soft-story” properties. In other words, they have a ground floor that consists of a garage, large windows or another type of opening. If you own a property that meets that definition, get prepared.
Dreaming of San Francisco? Cece Blase offers local advice to San Francisco buyers, sellers and owners-- and feeds the dreams of those who wish they could live in Tony Bennett's 'City by the Bay.' Call 415-577-0809 or email cblase@paragon-re.com. www.ceceblase.com
Comments