Building Mavens was commissioned to prepare both a Developer Turnover Report and a Structural Integrity Reserve Study (SIRS) for a newly constructed mixed-use oceanfront development in Palm Beach County, Florida.

• Structural Integrity Reserve Study (SIRS)
• Developer Turnover Report

• 18 March 2025 – 12 May 2025

• 55 days

• Structural & Building Envelope Engineering
• Mechanical, Electrical & Plumbing (MEP) Engineering
• Reserve Fund Analysis & Financial Modeling
• Regulatory & Code Compliance

The Resort is located along the Atlantic Ocean shoreline of Palm Beach County Beach, Florida. 

The Resort is a 6.76-acre mixed-use resort community, combining oceanfront living with resort-style services. 

Completed in 2023, the property includes two residential high-rise towers alongside hotel amenities and shared resort facilities:

• 19-story tower with 86 residences 
• 20-story tower with 98 residences

Average unit values are around $2 million and sales range between $1.3 million and $3+ million. 

As part of the transition to association control, the client engaged Building Mavens to conduct both the required Developer Turnover Report (per Florida Statute §718.301(4)) and a Structural Integrity Reserve Study (SIRS). Florida law mandates that developers complete a SIRS for each building of three stories or more before transferring control to unit owners.

Developer Turnover Report

Required by Florida Statute §718.301(4), a turnover report documents the condition of all common elements at the moment control shifts from the developer to the owners, protecting both parties and ensuring compliance.

Structural Integrity Reserve Study (SIRS)

A SIRS provides a long-term funding strategy for major repair and replacement of condominium components. It ensures compliance with Florida Statutes §718.112(2)(g) and builds financial resilience for associations.

“Building Mavens turned a complex handover into a transparent, future-ready roadmap for both developer and association.”

Future-Proofing the Association Through SIRS

A 25-Year Financial Roadmap

Building Mavens conducted a comprehensive 25-year reserve analysis using the Cash Flow funding method, which balances expenditures and smooths contributions while keeping funds flexible across all components. The study included a detailed visual site inspection, review of governing documents, and stratification of reserve components based on responsible entities.

This proactive SIRS went beyond minimum compliance. Although not legally required yet for this new property, the SIRS gave the association a head start on reserve planning and reinforced trust between the developer and future owners. Building Mavens’ analysis was grounded in Florida Statutes §718.112(2)(g) and aligned with industry best practices.

Creating Transparency at Transition

The Developer Turnover Report

Building Mavens performed the turnover assessment in accordance with Florida Statute §718.301(4). The methodology was based on ASCE 11 and ASCE 30 condition assessment guidelines, as well as ASTM E2018-15 standards.

The scope included reviewing construction and governing documents, interviewing property staff, and performing visual inspections of accessible components such as structure, roofing, waterproofing, fire protection, elevators, mechanical systems, and common amenities.

Observations were documented and categorized into condition ratings (Good, Fair, Poor). This rigorous process provided a defensible, statutory-compliant turnover package for the new association.

By conducting both the Developer Turnover Report and the Structural Integrity Reserve Study in tandem, Building Mavens provided the client with a comprehensive, defensible, and transparent turnover package.

At the same time, we equipped the new condominium association with a clear long-term reserve funding roadmap tailored to the property’s unique needs.

This dual-service approach:

• Strengthened trust between the developer and new owners.
• Reduced the risk of disputes or liability claims at turnover.
• Positioned the association to meet both current statutory requirements and future financial obligations.
• Optimized efficiency by combining scopes, saving the client time and cost.