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Old 06-28-2017, 08:29 PM
 
2 posts, read 1,939 times
Reputation: 10

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I’m interested in finding out about a condo development in Norfolk called, “The Pier” located at 40 Rader Street.

My wife and I are planning on retiring and have noticed this property but have not been to Norfolk for many years. We have heard several great things about the Norfolk area. However, we have also read several cautionary items. For example, last I heard Norfolk was ground zero for issues related to sea level rise. On that note, anyone know if the flood insurance for condos in the area are more than a mortgage! Any info on this property would be greatly appreciated.

We consider ourselves long lost Virginia natives and would like to permanently drop anchor in the Commonwealth. I appreciate your response!

According to The Pier’s website (piercondo.org) the description is:

“The Pier is a 67-unit condominium located in Fort Norfolk, minutes from downtown Norfolk, VA on the Elizabeth River. Actually, we consider ourselves to be “in” the river, as our building is surrounded by water on three sides. Our view of the annual Harborfest parade of sail and the fireworks on the river is unparalleled.

The Pier is close to mile marker zero on the inland waterway, and the Half Moone Cruise Terminal is just east of the Pier, so we have a wonderful view of pleasure craft as they move north and south along the Intracoastal Waterway and cruise ships as the arrive and depart for exotic locations. We are also privileged to see every type of Navy and Coast Guard ship as well as a wide variety of commercial vessels passing by the Pier on their way to and from the shipyards and commercial docks along the Norfolk and Portsmouth waterfront. The Pier is an historical landmark and was converted from a 100+-year-old cotton warehouse. Our building is mentioned on all the boats that conduct local river tours.

The Pier Marina has 35 newly renovated slips with electrical and water connections for our residents.”
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Old 06-29-2017, 06:08 AM
 
Location: Roanoke, VA
1,813 posts, read 4,193,345 times
Reputation: 1176
One thing to consider is that in the event of a major natural disaster such as a hurricane, condominiums do NOT qualify for federal disaster relief. There has been some effort to to amend the Robert T. Stafford Disaster Relief and Emergency Assistance Act to provide assistance for condominiums and housing cooperatives damaged by major disasters.

https://www.caionline.org/Advocacy/G...%20Relief.aspx

Though the above link is dated 2013, I believe this is still true --- the proposed amendment did not go through.

10/30/2015 Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.
From: https://www.congress.gov/bill/114th-...bill/3863/text

So if you buy, you may want to verify that you are adequately insured in the event of a disaster.

Good luck dropping anchor in the Commonwealth! It sounds like the Pier is in a beautiful location.

Last edited by TN Lily; 06-29-2017 at 06:08 AM.. Reason: typos
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