Will It Flood Again?

[Continuing the reader contributed series “Cornering the Market,” written by Brian Murray]

Flooding and Hoboken Condos

Hurricane Irene may have been a “dud,” but her affects are still being felt by Hoboken Condo owners.

If you have walked down the streets that typically flood have you seen piles of debris on the sidewalk. And by debris I mean water damaged flooring, cabinets, and furniture. My guess is that the insurance companies have finally settled, the contractors are through the emergency backlog and the real work of getting people’s homes back in order is beginning.

The good news: Hoboken won’t allow you to build below the flood line anymore. No more garden apartments that turn into ponds. New construction requires an elevation certificate. Wow what a concept. Can’t believe they just thought of this! I might put one in my time capsule so future Hobokenites can look back and say “Can you believe that they actually built homes in a place that was guaranteed to flood? and they needed a paper from the town to tell them it was OK to build from a height that doesn’t flood?… Hey, look what I found. What is this black thing with the words Blackberry written on it?”

The bad news: It will happen again. For clarity. It will happen again. If you live in a garden level apartment and just got flooded, think cement furniture. There are certain realities for buyers and sellers. For buyers, know that the day will come and take precautions. For sellers, make the home as water friendly as possible. It will get in. I’ve seen it come up from the ground (think a bubblin’ crude ala Jed Clampett) and even through the walls on an adjoining building. Water is Michael Jordan. You can’t stop it. You can only hope to contain it.

“You’re gonna clean up alright. Everything. Or you’re gonna end up with the seat of your britches on fire.”

– Jed Clampett

How’s The Market?

The week of October 24th inventory is hovering just north of 300 condos for sale. That’s a little north of six months supply. Interestingly, the two bedroom market supply is down to under five months. Given that a neutral market is considered six months supply. You may see an uptick in prices of certain segments. Get the 411 on the market at www.hobokenhomefinder.com/market-report

More Brian Murray

Visit Brian Murray at hobokenhomefinder.com for weekly market updates, the latest stats, and open house directories.

And don’t forget to bookmark or subscribe to the Cornering the Market category here on Hoboken411 for the next update.

Leave a Reply

4 Comments on "Will It Flood Again?"

OpenEyes
Member
OpenEyes

So 20 years later Hoboken finally follows Federal and State laws allowing no building in flood zones unless it it raised 10 feet about the flood level . In 2006 they adopted these laws but it was a moot point because it was already required by law.
The sad part is that people had to hire lawyers to force Hoboken to follow the law.
Only new people in town were required to follow the law (even some laws that don’t exist)

HobokenNJ – Garages are allowable in flood areas but they must build water runoff plans, as well as other requirements ,to do so

wiskeytango1
Member
wiskeytango1

eyes..They can put the bldgs on stilts like they have in the MAKONG DELTA IN VIET NAM AS WELL AS THAILAND…Hoboken is below sea level for 100’s of years..You saw what just two days of rain with the last hurricane did…Im starting to believe more in the bible with the 40 days and 40 nights..forgetaboutit..[quote comment=”211788″]So 20 years later Hoboken finally follows Federal and State laws allowing no building in flood zones unless it it raised 10 feet about the flood level . In 2006 they adopted these laws but it was a moot point because it was already required by law.The sad part is that people had to hire lawyers to force Hoboken to follow the law.Only new people in town were required to follow the law (even some laws that don’t exist)HobokenNJ – Garages are allowable in flood areas but they must build water runoff plans, as well as other requirements ,to do so[/quote]

contristo
Member
contristo

“but her affects” should be “but her effects”

hobokenj
Member
hobokenj

While building apartment at a certain level is good, not allowing for garages is not. That is one of the faults with a blanket rule. My building has the garage under the building, not quite as low as a garden apt, probably half as low. We have 5 storm drains, and the garage has never flooded. This is no longer legal to do in Hoboken.

Many new buildings like the Garden Manor 115 Garden are new construction with no parking. The reason is that it is not cost effective for developer to lose the whole ground floor. Since they tore down older homes to build, they are not required to have parking.

Hoboken would be better off letting developer build parking underneath as long as adequate drainage was done. You cannot solve the parking problem if new construction does not require parking.

wpDiscuz