The Renaissance Tower lawsuit has reached a $1.25 million settlement. The agreement resolves claims that board members hid serious structural issues. These problems eventually led to large repair assessments for current and former unit owners.
Renaissance Tower Lawsuit Alleges Concealment and Costly Assessments
The Renaissance Tower lawsuit began in October 2022 in South Carolina federal court. A group of 300 current and former owners accused the board of hiding structural deterioration. This allegedly caused millions in emergency repairs and assessments.
The board delayed action until 2021, when engineers confirmed the building’s steel structure was heavily corroded. Repairs only began in October 2022. By then, the building had already been evacuated and shoring costs exceeded $2 million.
A March 2025 settlement provides $1.25 million for the affected owners. Of this amount, $60,000 will go to unit owners. Another $50,000 will support the nonprofit maintaining the building. Remaining funds go to those who owned units as of October 7, 2022.
Owners originally sought over $12 million in damages. Though a settlement was reached, the board denied any wrongdoing. The class may still pursue further legal options.
The case remains on file in the U.S. District Court for the District of South Carolina. Attorneys from The Steinberg Law Firm LLP and Epting & Rannik LLC represent the plaintiffs. The defense is handled by Gordon Rees Scully Mansukhani LLP.
