We have specified similar fiber cement board rainscreen installations on several projects which have been successful. It's important to understand what this assembly does and does not do. It does leak. It is not a barrier system; it is a rainscreen. Rainscreens shed water, but are not expected to be watertight, especially during incidents of wind-driven rain.
You will need to provide a uniform air and water resistive barrier inboard of a rainscreen, one which will weep incidental infiltrated water back to the building exterior. This is usually done with air and moisture resistive products applied over continuous sheathing, and may also integrate thermal insulation products. There are thin-coat and thick-coat liquids, self-adhering sheets, and mechanically fastened sheets available for air and moisture resistive applications.
Insulation installed between furring will not be terribly successful due to thermal bypasses; the IECC has all but eliminated wall assemblies that lack continuous, uninterrupted thermal insulation. So you'll want to find a way to integrate rainscreen panel supports with an application of continuous insulation and a continuous air and water resistive barrier. You may use a clip and subgirt assembly that integrates with the insulation and air barrier selected. The manufacturers can likely suggest options for attachments.
With a five-story multi-family project, you will no doubt need to meet NFPA 285 with respect to the fire performance of the exterior wall assembly; this will likely eliminate bituminous air barrier products and plastic foam insulation products. This issue is somewhat new in code application and understanding; you should speak with product manufacturer engineers regarding compliance. You may end up using mineral wool board insulation products as continuous insulation, requiring a larger cavity than required for equivalent thicknesses of foam plastic insulation.
As for flood conditions: fiber cement products are not intended for ground contact nor for extended water immersion.
But you can't beat the view in the Blue Ridge Mountains!
Phil
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Philip Kabza AIA
Partner and Dir Technical Services
SpecGuy
Charlotte NC
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