Thursday, September 22, 2016

1,800 unreinforced brick buildings need upgrades

Some of Portland's 1,800 unreinforced masonry buildings, which may not survive an earthquake. (Photo: City of Portland)
Considering buying a brick building? If so, proceed with your eyes wide open! Have a bricker in your current protfolio? Consider getting involved to help shape policy and incentives for seismic retrofitting

Proposed policy would require seismic retrofitting

An unprecendented increase in population. Alarmingly rising rents. The upcoming Cascadia Quake. In preparation for Portland’s predicted future, the city might place new, mandatory seismic upgrade requirements on brick buildings for safety that critics say would negatively affect the local economy. 
Basically, the policy requires old brick-and-mortar buildings to be seismically retrofitted — braced with steel to reduce the effects of liquefaction during a moderate ground quake. This covers most builds between 1870 to 1960.

Unreinforced Masonry (URM) Seismic Retrofit Project

The URM Policy Committee is meeting monthly to prepare a seismic retrofit policy for Portland City Council to consider later this year.
Public forums are scheduled for the following dates:
September 8th: 6 to 8 p.m. at the Exchange Ballroom (123 NE 3rd Ave.)
September 22nd: 6 to 8 p.m. at the Portland Development Commission (222 NW 5th Ave.)

For more information about commercial property in the area, contact:
Karen Schaaf ACP, GRI
RE/MAX equity group
Lackman Commercial Group
Licensed in Oregon

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