PHOTO COURTESY OF Pacifica honolulu High-rise condo tower re-emerges from bankruptcy. Pacifica Honolulu, a 46-story project that was mothballed for more than a year after its first developer went bankrupt, opened as planned early this month. Last year, San Diego-based developer OliverMcMillan resurrected the $284-million project, first called Moana Vista. Ledcor Construction, working with Architects Hawaii Ltd., Gensler Architects and Baldridge Associates Structural Engineers, finished the job that was begun by the first general contractor, Hawaiian Dredging Construction, which lost its construction loan when the project was at the 27th floor.
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.