article thumbnail

NYT: Rising insurance costs impinging on affordable development efforts nationwide

Archinect

Unlike market-rate apartment developers, those building multifamily projects financed by subsidies and tax credits do not have the ability to simply pass on those higher insurance costs to tenants, since they are limited by government guidelines as to how much rent they can collect.

Insurance 276
article thumbnail

The fundamental 'BIM mismatch' between architects and contractors discussed at Harvard roundtable

Archinect

But providing them carries a high level of risk for architects, and as a result their attorneys and professional liability insurers often caution against it, despite the potential overall benefits for the project and all parties involved.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Five architecture students receive the 2023 RIBA Wren Insurance Association Scholarship

Archinect

The Royal Institute of British Architects has picked its slate of winners for the 2023 RIBA Wren Insurance Association Scholarship competition. The scholarships, which this year total £37,500 ($47,600 USD), were awarded to current Part 2 students from around the UK.

Insurance 278
article thumbnail

Wildfires, Climate Change, and the Architecture of Resilience

SW Oregon Architect

Adding to the complexity, many homeowners in the affected areas recently lost their insurance coverage. State Farm, one of the largest insurers in California, canceled hundreds of homeowners' policies last summer in Pacific Palisades and other high-risk areas.

Insurance 248
article thumbnail

Oliver Wainwright: better urban strategies must come from L.A.'s ashes

Archinect

Ironically, it might be the inability of the insurance industry to pay up that finally forces LA to change. [As] the former head of the federal emergency management agency, Craig Fugate, has said: “A house that gets destroyed is not an affordable home.” ” It’s not a sustainable one either.

Insurance 264
article thumbnail

Weakened North Carolina building codes jeopardized property after Hurricane Helene

Archinect

Compounding the recovery process for homeowners is the fact that most did not own flood insurance policies. Both it and the related House Bill 488 were supported by the North Carolina Home Builders Association, echoing issues that came to the fore in Kentucky after a string of devastating tornadoes there three years ago.

Insurance 264
article thumbnail

City of London approves record-tying skyscraper design from Eric Parry Architects

Archinect

As was first reported by The Guardian , "On completion, 1 Undershaft, which is being built on the site occupied by insurer Aviva’s former headquarters, will provide almost 13% of the office space required in the City of London to 2040." Image: DBOX/Eric Parry Architects Image: DBOX/Eric Parry Architects

Cities 264