Los Angeles Mayor Eric Garcetti signed into law ordinance #183893 that mandates all soft story wooden and concrete buildings be retrofitted to withstand earthquake damage.
Soft story apartment buildings lack a shear wall that provides critical structural support in the case of an earthquake. Does this describe your property? Save money by renovating now and beat the rush!
Wooden structures only have seven years to be in complete compliance with the law or face penalties.
Construction costs continue to rise.
The Bureau of Labor Statistics conducted a study that shows labor costs increasing by more than 3% annually. Additionally, according to a price index commissioned by Mortensen Construction, material cost is increasing 5.1% annually.
The scope of work required is massive. There are over 13,500 buildings that need to be retrofitted. That is a pretty big labor bottleneck! Waiting until the last minute could result in hiring an unqualified contractor or even increase the cost of the renovation if you have to go with an out-of-state contractor. If you hire a contractor to retrofit your property now, you can avoid the hassle of waiting and have complete peace of mind that you are following the new letter of the law.
Renovating now will save you time and money! Retrofit your soft story building soon!