Lumber Drops to Nine-Month Low, Extending Retreat From Record
August 30, 2021 —
Marcy Nicholson - BloombergLumber futures slid to the lowest in more than nine months after sawmills ramped up production and demand from builders stabilized.
September futures in Chicago fell as much as 4.4% to $482.90 per thousand board feet, the lowest for a most-active contract since Oct. 30. Prices have dropped more than 70% from the record high reached just three months ago.
The tumble marks a stark turnaround for the common building material after strong U.S. construction demand during the pandemic spurred a surge in orders for lumber, causing prices to more than quadruple to their May peak and fueling inflation concerns. Sawmills have since increased output, and a shortage of other building supplies such as siding and windows has slowed the pace of construction, said Brian Leonard, an analyst with RCM Alternatives.
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Marcy Nicholson, Bloomberg
Terminator’s Trench Rehab Drives L.A. Land Prices Crazy
June 26, 2014 —
John Gittelsohn and Alan Ohnsman – BloombergBen Stapleton frames the shot with his hands like a movie director, sharing his vision of a junkyard he’s trying to sell for $3.5 million. He sees artist workspaces, retail shops and apartments with Los Angeles skyline views, steps from a riverfront oasis.
Right now the river of his dreams is the concrete flood channel where an 18-wheeler chased Arnold Schwarzenegger on a Harley in “Terminator 2: Judgment Day,” one of the movies that used the 200-foot-wide (60-meter) ditch to depict industrial bleakness. A U.S. Army Corps of Engineers plan to return the Los Angeles River to a more natural state would cost $1 billion and has speculators circling even before the funding’s in place.
“The private money is already moving,” said Stapleton, a vice president at commercial real-estate brokerage Jones Lang LaSalle Inc. (JLL) “They’re looking for opportunities. It’s the private money that’s going to make the vision happen.”
Mr. Gittelsohn may be contacted at johngitt@bloomberg.net; Mr. Ohnsman may be contacted at aohnsman@bloomberg.net
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John Gittelsohn and Alan Ohnsman, Bloomberg
Cities' Answer to Sprawl? Go Wild.
December 06, 2021 —
Chris Malloy - BloombergIn a neighborhood of right-angled stone, stucco and brick buildings not far from Milan’s central train station, two thin towers stand out. Green and shaggy-edged, they look like they’re made of trees. In fact, they’re merely covered in trees — hundreds of them, growing up from the towers’ staggered balconies, along with 11,000 perennial and covering plants, and roughly 5,000 shrubs.
The greenery-festooned towers, called the Bosco Verticale, or Vertical Forest, are residential buildings in a broader-than-usual sense. The 18- and 26-story structures are “a home for trees that also houses humans and birds,” according to the website of architect Stefano Boeri, who has built tree-covered buildings elsewhere and is working on similar projects in Antwerp, Belgium, and Eindhoven in the Netherlands.
The Bosco Verticale is an example of urban rewilding, the growing global trend of introducing nature back into cities. There are consequences to the pace of today’s urban growth, which is the fastest in human history, including loss of biodiversity, urban heat islands, climate vulnerability, and human psychological changes. The U.S. Forest Service estimates that some 6,000 acres of open, undeveloped space become developed each day. Globally, past urban planning decisions like the prioritization of the car have given rise to cities that, but for scattered parks, tend to be divorced from nature. Rewilding aims to make cities better and more sustainable for people, plants, and animals.
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Chris Malloy, Bloomberg
Penn Station’s Revival Gets a $1.6 Billion Down Payment
February 08, 2021 —
James S. Russell - BloombergThe newly opened Moynihan Train Hall at New York Penn Station, America’s busiest rail hub, is the culmination of a vision that New York Senator Daniel Patrick Moynihan first promoted in the early 1990s. Moynihan, a champion of civic-minded federal architecture, proposed converting a portion of the Farley Post Office building to expand the crowded and much-unloved Penn Station facilities underneath Madison Square Garden. That scheme was repeatedly delayed, but on January 1, 2021, the result of those efforts – a $1.6 billion train hall designed by architectural firm Skidmore, Owings & Merrill (SOM) – welcomed its first passengers.
It’s a beautiful new space. Roofed by elegant bubbles of glass tensioned by almost-invisible cables, the shafts of daylight in contrast to the gloom of the long-neglected Penn Station are heartening. The hall is lined by glass-walled ticket offices for the Long Island Railroad and Amtrak. Sleek new escalators descend to the platforms. Airy new entrances draw passengers from the west. Above one entrance, breakdancers ebulliently leap from cloud to cloud in a stained-glass sky — an artwork by Kehinde Wiley. Above the other, an abstract skyline by Elmgreen & Dragset hangs overhead like urban stalactites. A waiting room evokes a suavely Art Deco diner. Moynihan Hall is a bracing restorative vision, at a time when rail travel needs all the help it can get.
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James S. Russell, Bloomberg
Supreme Court of California Rules That Trial Court Lacking Subject Matter Jurisdiction May Properly Grant Anti-SLAPP Motion on That Basis, and Award Attorney’s Fees
January 19, 2017 —
David W. Evans & Stephen J. Squillario - Haight Brown & Bonesteel LLPIn Barry v. The State Bar of California (No. S214058 – 1/5/2017), the California Supreme Court affirmed the trial court’s grant of the State Bar of California’s (“State Bar”) underlying anti-SLAPP motion (Code of Civil Procedure §425.16) on the grounds that plaintiff Patricia Barry (“Barry”), an attorney, had failed to show a probability of prevailing because, among other reasons, the court lacked subject matter jurisdiction over Barry’s claims. The Court confirmed that the absence of subject matter jurisdiction did not prevent a trial court from basing a decision to grant an anti-SLAPP motion on that ground, or to award the prevailing defendant its attorney’s fees.
Reprinted courtesy of
David W. Evans, Haight Brown & Bonesteel LLP and
Stephen J. Squillario, Haight Brown & Bonesteel LLP
Mr. Evans may be contacted at devans@hbblaw.com
Mr. Squillario may be contacted at ssquillario@hbblaw.com
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Cable-Free Elevators Will Soar to New Heights, and Move Sideways
January 14, 2015 —
Belinda Lanks – BloombergI live in one of the few buildings in New York that still has a manual elevator. When I ask the operator on the morning shift how he's doing, his well-oiled response is "up and down." For the last 160 years, elevators have travelled a predictably vertical path. That will soon change when the German manufacturer ThyssenKrupp introduces the first fleet of cable-free cars that can also move sideways.
The system, dubbed MULTI, will allow multiple cabs to motor along a single, looping shaft. The cars move by magnetic levitation (the same technology behind some high-speed trains), rather than being pulled by the heavy steel ropes that limit how high skyscrapers can stretch. With MULTI, architects will be able to build spindly towers on small plots formerly deemed untenable for high-rises.
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Belinda Lanks, BloombergMs. Lanks may be contacted at
blanks@bloomberg.net
Competitive Bidding Statute: When it Applies and When it Does Not
April 15, 2024 —
Mason Fletcher - Ahlers Cressman & Sleight PLLCThe University of Washington (UW), a public university, aimed to secure a real estate developer for a new building on its campus. The proposal involved an 80-year ground lease (the “Lease”), and developers submitted bids. The selected developer would demolish an existing building, construct a new one, own it during the Lease at its own cost, and UW would lease back a portion, with ownership reverting to UW at the Lease’s end. Alexandria Real Equities, Inc. (ARE) was a finalist but ultimately was not selected, and the Lease was awarded to Wexford Science and Technology, LLC (Wexford). As a result, ARE filed suit against UW asserting three claims: 1) UW lacked authority to execute the Lease, 2) UW didn’t follow required competitive bidding procedures, and 3) UW’s developer selection process was arbitrary and capricious. None of these claims were successful and ARE appealed.
Division II of the Washington Court of Appeals affirmed in Alexandria Real Estate Equities Inc. v. Univ. of Wash., __ Wn. App. __, 539 P.3d 54 (2023), a published decision. The Court concluded, based on the facts in that case, that because construction was not publicly funded, UW did not have to follow competitive bidding requirements that were laid out in a statute relevant to state universities. Still, the Court applied the “bright-line cutoff point” that prohibits disappointed bidders from challenging an award once a contract has been executed. See Dick Enterprises, Inc. v. Metro. King County, 83 Wn. App. 566, 572, 922 P.2d 184 (1996).
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Mason Fletcher, Ahlers Cressman & Sleight PLLCMr. Fletcher may be contacted at
mason.fletcher@acslawyers.com
The Top 10 Changes to the AIA A201: What You Need to Know
May 24, 2018 —
Christopher G. Hill - Construction Law MusingsFor this week’s Guest Post Friday here at Musings, we welcome back Melissa Dewey Brumback. Melissa is a construction law attorney with Ragsdale Liggett in Raleigh, North Carolina. Aside from the fact that she is a UNC grad and fan, she’s okay!
In 2017, as it does every ten years, the American Institute of Architects (AIA) updated most of its standard form contract documents, including the A201 General Conditions. This cycle, the contract changes are evolutionary in nature, not revolutionary. Even so, it is crucial to know the changes to avoid making a fatal mistake that could cost you money on a construction project. In reverse order, the top 10 changes you need to know include:
# 10: Differing Site Conditions
Prior editions of the A201 provided that upon encountering differing site conditions, the Contractor was to promptly provide notice to the Owner and Architect, before the conditions are disturbed, and in no event later than 21 days after the conditions were first observed. A201–2017 shortens the time for notice from 21 to 14 days.
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Christopher G. Hill, The Law Office of Christopher G. HillMr. Hill may be contacted at
chrisghill@constructionlawva.com