Seattle’s Tallest Tower Said Readying to Go On the Market
March 12, 2015 —
Hui-yong Yu – Bloomberg(Bloomberg) -- Seattle’s Columbia Center, the curved black office tower that’s the city’s tallest building, is poised to go on the market as its owners seek to tap into robust demand for U.S. real estate.
Beacon Capital Partners, a Boston-based private-equity real estate company, is working with Eastdil Secured LLC on the sale of the 76-story Columbia Center, the second-tallest U.S. building west of Chicago, according to a person with knowledge of the matter. Formal marketing is likely to begin in coming months, said the person, who asked not to be identified because the process is private.
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Hui-yong Yu, BloombergMs. Yu may be contacted at
hyu@bloomberg.net
Short on Labor, Israeli Builders Seek to Vaccinate Palestinians
February 01, 2021 —
Ivan Levingston & Fadwa Hodali - BloombergIsraeli builders want the government to vaccinate Palestinian construction workers to help rally a battered housing industry.
While Israel is racing to inoculate its citizens, the West Bank-based Palestinian Authority has no vaccination program in place. Beyond being a critical health issue, the gap is also an economic problem because the Israeli construction sector relies heavily on Palestinian workers who’ve been cut off repeatedly from building sites due to lockdowns.
Before the pandemic, about 65,000 Palestinians worked for Israeli contractors inside Israel, accounting for a third of their workforce. Closures and restrictions on both sides led to a 30% drop in housing starts despite rising demand.
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Ivan Levingston, Bloomberg and
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SFAA Commends U.S. House for Passage of Historic Bipartisan Infrastructure Bill
November 15, 2021 —
The Surety & Fidelity Association of AmericaNovember 8, 2021 (WASHINGTON, DC) – The Surety & Fidelity Association of America (SFAA), a nonprofit, nonpartisan trade association representing all segments of the surety and fidelity industry, commends the U.S. House for passing the historic, bipartisan Infrastructure Investment and Jobs Act (IIJA). The $1.2 trillion deal will lay the foundation for extensive improvements in the nation’s roadways, bridges, railways, waterways and broadband.
“Both sides of the aisle understand the importance of investing in our country’s aging infrastructure. The passage of this historic bill provides the most significant resources in more than 50 years to address the current and future needs of our country’s infrastructure, while creating millions of jobs and growing our national and local economies,” said SFAA president and CEO, Lee Covington.
SFAA also commends President Joe Biden, House Speaker Nancy Pelosi (D-Calif.), House Majority Leader Steny Hoyer (D-Md.), Senate Majority Leader Chuck Schumer (D-N.Y.), Senate Minority Leader Mitch McConnell (R-Ky.), Sen. Tom Carper (D-Del.), Sen. Shelley Moore Capito (R-W.Va.), Sen. Kyrsten Sinema (D-Ariz.), Sen. Rob Portman (R-Ohio), and Rep. Peter DeFazio (D-Ore.) for their leadership on this bill, and members of the House who voted in favor.
The Surety & Fidelity Association of America (SFAA) is a nonprofit, nonpartisan trade association representing all segments of the surety and fidelity industry. Based in Washington, D.C., SFAA works to promote the value of surety and fidelity bonding by proactively advocating on behalf of its members and stakeholders. The association’s more than 450 member companies write 98 percent of surety and fidelity bonds in the U.S. For more information visit www.surety.org.
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Connecticut Civil Engineers Give the State's Infrastructure a "C" Grade
October 10, 2022 —
The American Society of Civil EngineersWATERBURY, CT. — The Connecticut Section of the American Society of Civil Engineers (ASCE) released the 2022 Report Card for Connecticut's Infrastructure today, with five categories of infrastructure receiving an overall grade of a 'C'. That means Connecticut's infrastructure is in mediocre condition, an improvement over the 'C-' grade issued in the 2018 report card. The bump is thanks in large part to improved condition of assets across several categories and additional funding allocated for roads, bridges and rail. Connecticut is also set to receive more than $5 billion from the federal bipartisan infrastructure bill, which was passed in late 2021. However, these improvements are threatened by Connecticut's aging infrastructure – one of the oldest infrastructure networks in the U.S. – and the recent suspension of the state's already-insufficient gas tax. Civil engineers graded bridges (C), drinking water (C), rail (B), roads (D+), and wastewater (C-).
"This Infrastructure Report Card shows that while Connecticut has made great progress, much more needs to be done to rebuild our state's roads and bridges and deliver essential services like clean drinking water," said U.S. Senator Richard Blumenthal. "President Biden's historic Bipartisan Infrastructure Law is expected to invest more than $5 billion in Connecticut's infrastructure and create thousands of good paying jobs for the workforce. These federal funds, along with critically increased job training resources, will help address the challenges outlined in the Report Card. I thank the Connecticut Society of Civil Engineers for their commitment to designing and building our infrastructure, as well as all of the workers who innovate and advance the systems and structures we rely on every day."
To view the report card and all five categories, visit https://infrastructurereportcard.org/state-item/connecticut/.
ABOUT THE AMERICAN SOCIETY OF CIVIL ENGINEERS
Founded in 1852, the American Society of Civil Engineers represents more than 150,000 civil engineers worldwide and is America's oldest national engineering society. ASCE works to raise awareness of the need to maintain and modernize the nation's infrastructure using sustainable and resilient practices, advocates for increasing and optimizing investment in infrastructure, and improve engineering knowledge and competency. For more information, visit www.asce.org or www.infrastructurereportcard.org and follow us on Twitter, @ASCETweets and @ASCEGovRel.
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Construction Law Client Alert: California Is One Step Closer to Prohibiting Type I Indemnity Agreements In Private Commercial Projects
June 15, 2011 —
Haight Brown & Bonesteel, LLPOn June 1, 2011 by majority vote, the California Senate passed Senate Bill 474, which would amend Civil Code section 2782, and add Civil Code section 2782.05. The passage of this new law is a critical development for real estate developers, general contractors and subcontractors because it will affect how these projects are insured and how disputes are resolved.
Civil Code section 2782 was amended in 2007 to prohibit Type I indemnity agreements for residential projects only. Since 2007, various trade associations and labor unions have lobbied to expand those very same restrictions to other projects. These new provisions apply to contracts, entered into after January 1, 2013, that are not for residential projects, and that are not executed by a public entity. The revisions provide that any provision in a contract purporting to indemnify, hold harmless, and defend another for their negligence or other fault is against public policy and void. These provisions cannot be waived.
A provision in a contract requiring additional insured coverage is also void and unenforceable to the extent it would be prohibited under the new law. Moreover, the new law does not apply to wrap-up insurance policies or programs, or a cause of action for breach of contract or warranty that exists independently of the indemnity obligation.
The practical impact of this new law is that greater participation in wrap-up insurance programs will likely result. While many wrap-up programs suffer from problems such as insufficient limits, and disputes about funding the self-insured retention, the incentive for the developer or general contractor to utilize wrap-up insurance will be greater than ever before because they will no longer be able to spread the risk of the litigation to the trades and the trade carriers.
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Reprinted courtesy of Steve Cvitanovic of Haight Brown & Bonesteel, LLP.
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Real Estate & Construction News Roundup (1/16/24) – Algorithms Affect the Rental Market, Robots Aim to Lower Construction Costs, and Gen Z Struggle to Find Their Own Space
February 12, 2024 —
Pillsbury's Construction & Real Estate Law Team - Gravel2Gavel Construction & Real Estate Law BlogIn our latest roundup, New York’s Prompt Payment Act comes into question, vacancy rates rise in commercial office space, the Biden administration applies project labor agreements on certain federal construction projects, and more!
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They Say Nothing Lasts Forever, but What If Decommissioning Does?
June 10, 2019 —
Stella Pulman - Gravel2Gavel Construction & Real Estate Law BlogThe looming decommissioning liabilities of offshore energy producers have been a focus of the federal government in recent years. One recent case out of the U.S. Court of Federal Claims, Taylor Energy v. United States, highlights the tension between the federal government’s desire to maintain financial security for decommissioning activities, and that of an operator whose security is tied up indefinitely while the government awaits technological advances to allow for safe decommissioning.
The case relates to a trust agreement between Taylor Energy and the United States, established to secure Taylor’s decommissioning liabilities for 28 wells in the Gulf of Mexico. Taylor completed certain decommissioning work for which it was reimbursed by the trust. However, with over $400 million remaining in the trust, Taylor and the Bureau of Safety and Environmental Enforcement (BSEE) concluded that the ecological benefits of further decommissioning would be outweighed by the ecological risks. But despite recognizing that the limitations of current technology made the environmental impacts of further decommissioning work unjustifiable, the BSEE declined to release Taylor from its decommissioning obligations and instead decided to await “changes in technology and a better understanding of the undersea environment.” Because Taylor’s decommissioning obligations remained in place, the U.S. refused to release the remaining funds in the trust.
Taylor claimed that the United States should release the remaining funds in the trust because “decommissioning the remaining wells is not ‘currently technologically feasible.’” Taylor asserted that Louisiana law applied to the trust agreement, and that under Louisiana law every contract must be completed within an ascertainable term. By holding the trust funds until decommissioning was complete, Taylor argued that the government was essentially holding the funds in perpetuity given the technological infeasibility of completing decommissioning. Taylor also asserted that the agreement was premised on an impossibility (the full decommissioning of the wells), and/or a mutual mistake of the parties (that the wells could be decommissioned).
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Vinny Testaverde Alleges $5 Million Mansion Riddled with Defects
January 15, 2014 —
Melissa Zaya-CDJ STAFFFormer Tampa Bay Buccaneers quarterback Vinny Testaverde and his wife Mitzi filed suit December 20, 2013 claiming breach of contract and building code violations on their $5 million, Odessa, Florida mansion, according to the Tampa Tribune. The Testaverdes allege that their six-year old, 6,700 square foot home has multiple defects, including “wet floors and walls when it rains and a grand staircase leading to the front door that is sinking, taking with it two columns that support the porch roof,” The Tampa Tribune reports.
Gray Homes of Tampa Bay were contracted by the couple to build their mansion on Lake Keystone. The Tampa Tribune stated that several months before filing suit, the Testaverdes sent a certified letter to Gray Homes stating they had uncovered “a series of defects.” According to the article, Gray Homes had not yet responded to the Tampa Tribune’s message asking for a comment.
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