The Aftermath of the Surfside Condo Collapse: Condominium Development, Financing, and Insurance

Real Estate   |   Development   |   Construction   |   June 3, 2022

The collapse of the Champlain Towers South in Surfside, Florida, last June sent shock waves through the state and around the country, as condominium construction and maintenance came under a microscope and officials and industry experts intensely reviewed all aspects of Florida condominium development, financing, and insurance.

For the spring meeting of Carlton Fields' Community & Development series, we consider the immediate and long-term impacts of the tower collapse on condominium projects in Florida and beyond, including: 

  • Balancing regulatory burdens with sufficient safe harbor for healthy condominium development and upkeep
  • Effects on condominium loan underwriting and funding, as well as property insurance coverage
  • Possible regulatory or legislative changes on the horizon

We were joined by Bethann Barrett, senior vice president and commercial banker at Bank OZK; Andrea Northrop, vice president and partner at Insurance Office of America; Bill Sklar, shareholder at Carlton Fields and chair of The Florida Bar Condominium Law & Policy Life Safety Advisory Task Force; and Rick Slider, president at Slider Engineering Group.

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