Julie Satow examines the ways in which owners and developers of potentially vulnerable properties in New York are planning to invest in costly waterproofing measures.
“If you are in the flood zone and you are marketing a new high-end property, it will need to stand up to the test of another superstorm,” said Stephen G. Kliegerman, the executive director of development marketing for Halstead Property. “I think buyers would happily pay to be relatively reassured they wouldn’t be terribly inconvenienced in case of a natural disaster.”
Satow looks at the novel measures being incorporated into new and existing buildings, including a condominium project being built by Adam Gordon Holdings in Chelsea. "Mr. Gordon’s Chelsea project will have a waterproof 'concrete superstructure' from the basement to the second floor that has 13-foot floodgates; waterproofed rooms with submarine-style doors to protect mechanical and electrical systems; and a generator and a pumping system run on natural gas."
“This is the new normal,” said Gordon. “With two hurricanes in two years, this is the new base level for the way people should think about building in New York."