The Walters Group announced this week that it had created a new division of its development firm to assist with the efforts to rebuild the Jersey Shore in the wake of Superstorm Sandy. Working with VanDyk Group, a real estate and insurance services firm, the company is helping with permitting issues, procuring architectural plans, and financing for resident whose homes were destroyed or damaged during the storm.
"Our team wants to help the people who live in our community recover and rebuild," said Ed Walters, Jr., founder and partner of Walters Group. "We want to do our part to get this region back on its feet."
Throughout the Northeast, the trail of destruction from Superstorm Sandy could result in 200,000 claims for wind damage and another 200,000 claims for flood damage, according to estimates from Consumer Federation of America. Economic damages could run as high as $50 billion, according to the catastrophe-risk-modeling firm Eqecat, Inc., and $10 billion to $20 billion in insured losses. More than 1 million homes have been evacuated.
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