Commercial Real-Estate at Risk: An Examination of Commercial Building and Economic Impacts in the United States Using a High-Precision Flood Risk Assessment Tool

Author:

Porter Jeremy R.,Shu Evelyn G.,Amodeo Mike F.,Freeman Neil,Bauer Mark,Almufti Ibrahim,Ackerson Meg,Mehta Jinal

Abstract

Environmental changes are predicted to exacerbate changes in flood events, resulting in consequences for exposed systems. While the availability and quality of flood risk analyses are generally increasing, very little attention has been paid to flood impacts related to the commercial market. This is notable given that the commercial market is often made up of the most valuable physical structures in communities, employs much of the local labor force, and generally plays a key role in the sustainability of economies. This study provides the first national spatial model of flood risk for commercial and multi-unit residential buildings at a property level resolution within the United States. This is achieved through the use of high-resolution inputs (hazard and property data), flood hazard information for the four major flood types, multi-return period hazard information, component-based depth-damage functions, GDP and economic multipliers information, and future facing projections. This study estimates that over the next 30 years, the absolute count of commercial and multi-unit buildings with risk will increase 8%, structural damage costs will increase 25.4%, downtime days will increase 29.1%, and economic impacts will increase 26.5%. Additionally, these impacts are concentrated in certain spatial locations. A high resolution model capturing flood risk as related to these commercial buildings is important for a comprehensive understanding of overall flood risk within the United States.Classification CodesJEL C30, E00, G17, M20, R10, R30

Publisher

Frontiers Media SA

Subject

General Medicine

Reference41 articles.

1. Socio-economic impacts of flooding: a review of the empirical literature;Allaire;Water Secur.,2018

2. FEMA P-58 Seismic Performance Assessment of Buildings Volume 1 - Methodology2013

3. Assessing property level economic impacts of climate in the us, new insights and evidence from a comprehensive flood risk assessment tool;Armal;Climate,2020

4. REDi Rating System: Resilience-Based Earthquake Design Initiative for the Next Generation of Buildings2013

5. Combined modeling of US fluvial, pluvial, and coastal flood hazard under current and future climates;Bates;Water Resources Res.,2021

Cited by 1 articles. 订阅此论文施引文献 订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献

同舟云学术

1.学者识别学者识别

2.学术分析学术分析

3.人才评估人才评估

"同舟云学术"是以全球学者为主线,采集、加工和组织学术论文而形成的新型学术文献查询和分析系统,可以对全球学者进行文献检索和人才价值评估。用户可以通过关注某些学科领域的顶尖人物而持续追踪该领域的学科进展和研究前沿。经过近期的数据扩容,当前同舟云学术共收录了国内外主流学术期刊6万余种,收集的期刊论文及会议论文总量共计约1.5亿篇,并以每天添加12000余篇中外论文的速度递增。我们也可以为用户提供个性化、定制化的学者数据。欢迎来电咨询!咨询电话:010-8811{复制后删除}0370

www.globalauthorid.com

TOP

Copyright © 2019-2024 北京同舟云网络信息技术有限公司
京公网安备11010802033243号  京ICP备18003416号-3