Photo by Tony Illia An LVI unit is set to demolish the unfinished 28-story Harmon Hotel in Las Vegas. The $279-million tower received court approval in late April to be leveled prior to a September jury trial between owner MGM Resorts International and contractor Tutor Perini Building Corp. over building defects. The consolidation trend has hit the demolition and remediation construction sector in a big way, with major players LVI Services Inc., New York City, and NCM Group Holdings Inc., Brea, Calif., announcing on April 24 an agreement to merge.The new combined firm, to be called NorthStar Group Holdings LLC,
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.