CM of 3.5-million-sq-ft American Dream retail-entertainment venue seeks funds for unpaid invoices and interest.from lead lender JP Morgan Chase, as agent for financially struggling project developer.
Speculated water utilities deal is official, following federal trial halt June 5 of a $100-million claim by Stuart, Fla., which seeks to recover from chemicals firm mitigation costs to reduce contamination in its drinking water supply.
The firm has signed two agreements with Ukrainian officials related to project management, cost estimating standards and gaining investors for the country's plans to rebuild infrastructure damaged by the Russian invasion.
Protests by Fluor and CDM Smith had challenged emergency response agency bid evaluation as too subjective and objected to a single-award blanket purchase agreement.
Inflated costs, crunched schedules and materials delays are driving a greater interest in alternative project delivery methods, firms say—which is reflected in last year’s rise in design-build and construction management-at-risk revenue.
Second Massachusetts project, SouthCoast Wind, files to terminate project power agreement, and could face up to a $60-million fine, while developers in New York and New Jersey seek contract cost adjustments
In three-year delay, companies cite “changing market conditions and subsequent high cost inflation” for drilling project after FEED contract award in April to engineers KBR and Hatch.
HOK Sports + Recreation + Entertainment is architect for the stadium, estimated to cost at least $1.4B, with Barton Malow and AECOM Hunt named to manage preconstruction.
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