ColoradoWindsor-based McCauley Constructors Inc. added Jerry Grandt, Lindsey Crisanti and Scott Ready as superintendents and Tonya Deter as a project coordinator. Rendering courtesy of Architectural Nexus Architectural Nexus� new design center houses staff and offers a place for those seeking practical knowledge and applications for sustainability and preservation. Photo courtesy of Hunt Electric Jay Behunin, right, accepts Skanska USA�s March 2010 Safety Team Award from Cullen Copenen, Skanska Safety Superintendent. Grandt has more than 20 years of experience in the construction industry. In that time, he has completed the Bioenvironmental Research Building for Colorado State University and several assisted-living facilities.
Bank financing is beginning a slow return to the commercial real estate market as healthy financial institutions resolve existing credit issues and �right size� their balance sheets. Banks that have worked through their credit issues will re-enter the construction financing market when demand for space demonstrates a renewed need for construction. Those looking for financing will find underwriting standards that reflect banks� lower-risk tolerances. Developers will need to adjust return expectations in response to new underwriting requirements. Healthy banks initiated proactive loan-loss reserves beginning in early 2009. This, in addition to high levels of real estate exposure, created capital issues
Related Links: University Hospital Plans a $400-Million Expansion In June the Regional Transportation District�s Board of Directors voted unanimously to award its single-largest FasTracks contract, a public-private partnership known as Eagle P3, to the Denver Transit Partners consortium. The group will design, build, operate and maintain the commuter rail lines to Denver International Airport, Arvada-Wheat Ridge and south Westminster for the next 40 years. Denver Transit Partners� proposal came in at $2.085 billion�$300 million lower than RTD�s estimate of $2.385 billion. The proposal also included opening the central line between Denver and DIA by January 2016, 11 months ahead of
Construction completed in April on a new solar-powered meetinghouse for the Church of Jesus Christ of Latter-day Saints in Farmington, Utah, its first in the Northern Hemisphere. Photo courtesy of Jacobsen Construction The 20,000-sq-ft Farmington Meetinghouse is one of five prototypes developed by the Church of Jesus Christ of Latter-day Saints and is only the second LDS building to achieve LEED-Silver certification. div id="articleExtrasA" div id="articleExtrasB" div id="articleExtras" The 20,000-sq-ft meetinghouse is one of five prototypes developed by the church to showcase its environmental stewardship, according to church officials. The church is constructing four similar LEED-certified prototypes in Utah, Arizona
Related Links: Denver Transit Partners Selected for $2B FasTracks Project The University of Colorado Hospital in Aurora unveiled expansion plans in May that include construction of a $400-million, 12-story patient tower. The hospital will also spend $20 million to expand the University of Colorado Cancer Center to meet a substantial increase in demand for hospital services. UCH�s hospital expansion will create a 660,000-sq-ft building dedicated to inpatient and emergency care and renovate 60,000 sq ft of existing space. The new tower will house a four-story, critical-care wing containing a new emergency department, a cardiac and vascular center, and a six-story
In March, a group of students from Southern Utah University in Cedar City, Utah, spent their spring break building disaster-resistant dome homes in Mexico. Groups of students from SUU have been traveling to Mexico for the past seven years, donating time and resources to build homes, but this was the first time they used the new technology to build dome houses. Last winter, SUU Construction Management Prof. Boyd Fife met with David South, Monolithic Dome Institute president, to discuss the possibility of transitioning from building conventional homes to the dome structures. The dome design makes the homes more resistant to
The March issue of Multifamily Executive gives an interesting overview of the current multifamily market situation and takes a stab at a prediction for a rebound. According to the article entitled “Groundbreaking Ideas,” “Citing low labor and material costs, recovering fundamentals, and a dire lack of competitive market supply, the progressive multifamily mindset says construction will start now.” Here’s how they plan to pull new developments out of the dirt for delivery in 2011 to 2013. Before the downturn in residential development, Dallas-based Trammell Crow Residential had been producing an average 6,700 units of apartments annually. Last year, the company’s
UtahIn April, Ritchie Bros. Auctioneer s held a multi-million-dollar grand opening auction in Tooele County, the company’s first in Utah, marking the opening of its 22nd auction site in the United States. More than 1,600 people from 24 countries, including 46 U.S. states and nine Canadian provinces registered to bid in person or online on more than 1,100 heavy equipment items being sold at the auction, held on the new 37-acre regional auction unit 20 miles west of Salt Lake City at Salt Point Commerce Center in Lake Point. The next Salt Lake City auction is scheduled for this month.
Arizona officials have enacted new "prompt pay" rules to keep cash flowing to struggling contractors, caught by banks and developers that have been withholding project payments in tough times. Gov. Janice K. Brewer (R) on May 11 signed into law a bill establishing retainage and final-payment timetables for properly completed construction work. Failure to comply results in penalties of 1.5% monthly interest charges. “Retention issues should be dealt with immediately and not be dragged out for cash-flow purposes, ” says Michael F. Markham Sr., president of Markham Contracting Co. Inc., Phoenix. “The banks have been a problem with this. They
UniSource Energy Corp. kicked off construction of the company�s new headquarters building on a two-acre downtown Tucson lot. The nine-story building will provide 170,000 sq ft of office space for more than 425 employees of Tucson Electric Power, the company�s principal subsidiary. The building also will include nearly 11,000 sq ft of ground-floor retail space as well as a conference center, meeting rooms and about 500 parking spaces. Developer and general contractor Ryan Cos. is expected to complete construction before the end of 2011. The building has been designed by DAVIS and Swaim Associates from the ground up to conserve
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