In March, we published a letter to the editor from a Miami man, whose message sent a dire warning to older Florida condominium communities.

"Florida has been in a state of reckoning over the last two years, after the collapse of Surfside's Champlain Towers in 2021 that killed 98 people [and] set off a slew of new regulations. In the aftermath, lawmakers realized that the condominium law that allows associations to defer critical maintenance and not hold reserves for future repairs and maintenance may lead to more tragedy," Joseph Hernandez wrote.

Every year, the Florida Legislature passes a slew of new laws and regulations and this year was no different, but Senate Bill 4D, enacted during the 2022 session, was a gamechanger. It created new standards for condo buildings over three stories tall, and has left many Floridians wrestling with the option of paying significant association fees, selling their unit or going into foreclosure. Hernandez's letter also sent a signal to The Palm Beach Post — it generated a whopping 117,375 page views (anything over 5,000 is sizable) and was a clear indication that readers wanted more information. It led The Post to do a deeper dive into a looming crisis as the deadline for the Phase One inspections is Dec. 31, 2024. During our research around the state, we found that many units like Villa Del Sol on Hutchison Island and Heron Pond in Pembroke Pines were already being evacuated. And many other Florida condo communities face massive assessment fees at the beginning of 2025. The result: many retirees on pensions or fixed incomes cannot afford the bills that will be due, and potential buyers are avoiding older buildings because of the high assessments. Meanwhile, insurance premiums are soaring. Everything Hernandez predicted has been true and I reached out to him for more insight. Turns out, Hernandez is a Miami attorney at Bilzin Sumberg specializing in real estate. He's been watching this disturbing trend unfold even before Surfside's collapse.

Resident Eric Johnson walks to the condemned buildings at the Villa Del Sol condominium complex Friday, Sept. 13, 2024, in St. Lucie County. Residents were ordered to evacuate their homes immediately on Aug. 8 after an inspection showed dangerous structural damage in three of the six condominium buildings on A1A. "They pretty much just told us, grab whatever you can and try to get out as fast as possible," said Johnson.

 

"Over the last 15 years, this concept of condos facing structural challenges has been happening," he said. "I've seen it. The Surfside tragedy just put the spotlight on it and the laws are speeding things up. It's a rude awakening."

Hernandez said he sent the letter because, "I am able to see what is happening in the market and wanted to send a warning."

He proceeded to rattle off a slew of numbers that backed up his letter.

"In Florida, you have about 1.5 million condo units, and of those about 925,000 are 30 years or older," he said. "Half of those are in Miami-Dade, Broward or Palm Beach counties, and ... probably 80-90 percent of them have serious maintenance issues or are not adequately financed with reserve money.

"The cost to maintain the units will skyrocket, but the value of the properties will decrease. The land, however, remains valuable, and developers want it. But the cost to modernize and rebuild will then price out people. This is the mega-trend in South Florida real estate that will be happening in the next five to 10 years."

Hernandez said the real problem will come when a "massive amount of people will be displaced with nowhere to go."

The Post's comprehensive package of stories and photos detail what is happening around the state, what lawmakers are doing about it and what the future holds.

What we found: safety, it turns out, comes at a very high price.