A partially completed luxury condominium development on South Padre Island on the Texas Gulf Coast is slated for demolition after it has settled by 14 to 16-in, more than double the settlement of the attached parking garage. The developer, Ocean Tower LP is seeking $125 million in damages from the geotechnical engineering and structural engineering firms. They determined repairs were not “economically feasible” and a lawyer for Ocean Tower LP estimated the developer had invested about $65 million in the project. Source: NY Times via ASCE SmartBrief.
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