News
S.F. Real Estate's Hit From Global Warming? $77B
June 21, 2016
Global warming could drown $77B worth of property in San Francisco, according to a new forecast.
Much of the waterfront that’s drawn investment over the past decade will be underwater, according to a team led by Risk Management Solutions chief strategy officer Paul VanderMarck. The team has modeled the impact of a sustained sea level rise on S.F., reports the San Francisco Business Times.
San Francisco is drafting an action plan to cope with a 5.5-foot water level increase. VanderMarck expects the city will adopt a cost-effective mixed strategy of building higher sea walls in some areas while surrendering other areas.
Other shoreline cities such as New York are preparing for rising seas by constructing coastal barriers and defenses. [SFBT]
