‘Relentless’ Storm Season Puts 300,000 More Homes in Danger

first_img Previous: Outreach Could Help 400,000 ‘Needlessly Delinquent’ Borrowers Next: States at Highest Risk of Economic Strain From COVID-19 Home / Daily Dose / ‘Relentless’ Storm Season Puts 300,000 More Homes in Danger The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago October 8, 2020 1,048 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Hundreds of thousands of homes are at risk of storm surge destruction by Hurricane Delta. That is based on information coming in Wednesday evening from the National Hurricane Center, which projected Category 2 status at landfall, and data from CoreLogic, a property data and analysis firm.CoreLogic’s Risk Analysis estimated 293,685 single-family and multifamily homes across Louisiana and the U.S. Gulf Coast with a reconstruction cost value (RCV) of approximately $62.85 billion are at potential risk from this hurricane. For many, the damage could compound storm-related devastation that not long ago struck the same region.“After battering the Yucatán Peninsula near Cancún, Mexico, Hurricane Delta is headed for the Gulf Coast just weeks after Hurricane Laura brought significant wind and storm surge damage to the Texas and Louisiana coastlines,” said Curtis McDonald, meteorologist and senior product manager of CoreLogic. “Residents in these coastal areas are already trying to recover from their losses and are now faced with a second substantial storm. This season has been relentless, and Louisianans should be prepared for the long recovery road ahead.”Note: This is a swiftly changing forecast. As it nears the Gulf, Delta’s trajectory will become more clear, narrowing the potential areas of impact.CoreLogic will provide up-to-date storm surge exposure estimates at hazardhq.com.At time of publication, CoreLogic had reported that the primary threats as Hurricane Delta makes landfall in central Louisiana will be storm surge and damaging winds.”Heavy rainfall is also expected, but a fast storm speed is expected to limit catastrophic inland flooding. CoreLogic catastrophe and weather experts expect the 2020 hurricane season to continue on its above-average trend given warmer oceanic temperatures, which presents financial risk to homeowners and businesses in property services, like insurers and mortgage lenders. Hurricane-driven storm surge can cause significant property damage when high winds and low pressure cause water to amass inside the storm, releasing a powerful rush over land when the hurricane moves onshore.”For a complete view of total storm surge risk for all Atlantic and Gulf Coast metropolitan areas, as well as wildfire damage estimates, download the 2020 CoreLogic Storm Surge Report. The following chart, provided by CoreLogic, breaks down the  potential cost to cities predicted to be hit hardest, at time of publication, by Hurricane Delta:For complete methodology and more information about CoreLogic, visit the company’s website. ‘Relentless’ Storm Season Puts 300,000 More Homes in Danger Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Market Studies, News Demand Propels Home Prices Upward 2 days ago Subscribe  Print This Post Demand Propels Home Prices Upward 2 days ago Related Articles About Author: Christina Hughes Babb Share Save 2020-10-08 Christina Hughes Babb Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days agolast_img read more

Planning Board Hearing Wednesday Will Focus on Ninth Street Development Project

first_imgAn architectural rendering shows what the Keller Williams office building at Ninth Street and Bay Avenue will look like. By Donald WittkowskiThe developer of a proposed $2 million office building that would serve as a new centerpiece for Ocean City’s main gateway will seek planning approvals for the project during a hearing Wednesday night that is expected to draw some opposition.The Keller Williams realty firm plans to build its new corporate headquarters on land formerly occupied by an abandoned and blighted Exxon gas station that had marred the appearance of the Ninth Street corridor for years.Keller Williams has demolished the old Exxon station to clear the site at the corner of Ninth Street and Bay Avenue for redevelopment. In the next step, the company is scheduled to appear before the city Planning Board at its meeting 6 p.m. Wednesday for site plan approval to begin construction.Paul Chiolo, owner of Keller Williams, said his company remains “completely ready” to present the project to the board for its scrutiny.“We took this very seriously. The fact that this is the gateway to Ocean City, we took that into consideration. It was important to us not to build something that was overbearing or intrusive,” Chiolo said in an interview Tuesday.Chiolo said Keller Williams plans to develop “a classic, complementary seashore building” that reflects its high-profile location and would welcome visitors to town.“It is really pleasing to the eye,” he said.Keller Williams owner Paul Chiolo, pictured while addressing City Council over the summer, says his proposed office project will help to beautify the Ninth Street corridor.Ever since Keller Williams announced its project last year, there has been debate whether an office building would be the best use for the site. Critics of the project are expected to attend the Planning Board meeting.Drew Fasy, co-chair of Bike OCNJ, an advocacy group for local bicyclists, has concerns over the visibility and function of the Keller Williams building. He intends to speak out against the project during the Planning Board meeting.Fasy said he is worried how the project might affect bike and foot traffic using the popular bike path and walkway along the Route 52 Causeway, which connects with the foot of Ninth Street.“It is arguably the busiest corner in all of Ocean City,” Fasy said. “The path over the Causeway averages 590 bikers-runners every day and can see as many as 1,300 a day during peak summer months. The access and egress of this proposal is right in front of the multi-use bike path-walkway. … It’s going to be a nightmare for the public.”Chiolo believes the concerns are unfounded. He noted that the Keller Williams office wouldn’t even be the closest building to the foot of the Causeway. He said the two existing businesses next to the bridge are likely to have more impact on the Causeway’s bike and foot traffic than the office building.If the Planning Board grants its approval, Keller Williams plans to start construction on the two-story office complex in spring. Completion is expected by next fall, Chiolo said.The blighted former Exxon gas station was demolished in November to make room for the proposed $2 million corporate headquarters for Keller Williams.The removal of the blighted Exxon site is a key piece of the city’s overall plan to beautify the Ninth Street corridor from the bay to the Boardwalk, creating a far more appealing first impression for visitors arriving in town via the Route 52 Causeway bridge.The strategy includes replacing three former blighted gas station sites with green space. Initially, the city would concentrate on sprucing up an expanse of land stretching from Bay Avenue to the base of the bridge.Originally, Mayor Jay Gillian wanted to convert the old Exxon site into landscaped green space. But during a town hall meeting in October to discuss ideas for redeveloping the Ninth Street corridor, the mayor seemed to endorse the Keller Williams project by calling it a “beautiful place.”“The last comment I heard from the mayor was at the town hall meeting,” Chiolo said. “He said he supported the building and would not interfere.”The town hall meeting gathered suggestions from the public on how to give the Ninth Street artery a facelift. Ideas included open space, new parks, children’s playgrounds, boat slips and a series of environmentally friendly attractions ranging from bird-watching areas to rain gardens.Over the summer, the city agreed to pay $475,000 to buy a shuttered former BP gas station on the opposite side of Ninth Street from the old Exxon property. The old BP has since been demolished.City officials have indicated they would also like to acquire an abandoned Getty gas station next to the former BP site, as well as the neighboring Bud’s Outboard Marine Inc. property. Taken together, the BP, Getty and Bud’s sites would create a large swath of property that could be transformed into green space under the city’s control.In closing, Fasy said “I feel there is still a chance that we can have that location preserved for open space which is a better and safer option for the gateway in to Ocean City.  This option is an example of over building and will create an on-going safety issue”.Stay tuned.  OCNJ Daily will be in the Planning Board meeting and will report the outcome as soon as it is decided.last_img read more

Lady Trojans Win Soccer Regional Opener

first_imgThe East Central Lady Trojans started off Regional play with a 1-0 victory over The Bloomington South Lady Panthers at St. Leon.EC will now play The Lady Trojans of New Castle for The Regional Championship.  NC defeated The Columbus North Lady Bulldogs 3-2.The Battle of the Lady Trojans will be on Saturday (10-18) starting at 1 PM at East Central High School.last_img

CONCACAF getting back on track – President

first_imgPresident of CONCACAF, Victor Montagliani is breathing a little easier these days after successfully utting his organisation back on a path to success following corruption scandals that rocked it to its core.“Putting the financial house in order of CONCACAF over a short period of time has been the highlight, not only generating increased revenue, but also putting in some good practices from a governance and fiscal management perspective. Culturally, that is something that is very important to the future of the organisation,” said Montagliani.The United States Department of Justice and the Federal Bureau of Investigation(FBI) arrested 40 FIFA and former FIFA officials, 0including some of CONCACAF’s very top officials. A number of those officials, including former president Jeffrey Webb, have since pleaded guilty, and have been given life bans from the sport.According to Montagliani, there was also the issue of bringing unity to CONCACAF after, not just the scar of corruption, but also after a hard-fought election for the organisation’s presidency in its wake.Today, Montagliani believes that the various Association presidents are happier, having seen the efforts to create unity within CONCACAF.“The other highlight is that we have been able to put the house in order, and we have met about three occasions with the (association) presidents and you can see by coming together the people are seeing that anything is possible when we are united,” said Montagliani in an interview with the Jamaica Observer.Now the organisation is looking forward to putting up a bid or multiple bids for the 2026 World Cup. Before that, there is the 2017 Gold Cup, which is expected to provide a financial boost for the organisation.last_img read more