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.
In case you missed the background on the Kilbuck Landslide (or here or here), it happened in Kilbuck Township, PA back in in September of 2006. To deal with the political hot potato and media nightmare, Wal-Mart bought out the developer on the unfinished property and began handling remediation of the slide itself. Now, it appears as if they want their money back from the developer! Read on for more details.