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Condo owners at St. Petersburg’s Signature Place to cough up $8.7M for repairs | Tampa Bay Times

ST. PETERSBURG — Condo owners in Signature Place, Tampa Bay’s tallest and newest condo tower, are being hit with $8.7 million in special assessments to correct “urgent construction defects” that endanger residents and pedestrians.

Repairs to the 6-year-old building in downtown St. Petersburg originally were estimated to be less than $700,000 but mushroomed after experts discovered “missing or improperly installed” rebar, which helps strengthen exterior walls.

Work to remedy the many alleged defects — which include stucco that could fly off in high winds — has been under way for months and now is expected to last until December 2016. That is far longer than first anticipated.

via Condo owners at St. Petersburg’s Signature Place to cough up $8.7M for repairs | Tampa Bay Times.

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