Home Prices in 20 U.S. Cities Rose at Faster Pace in January
April 01, 2015 —
Nina Glinski – Bloomberg(Bloomberg) -- Home prices in 20 U.S. cities appreciated at a faster pace in the year ended in January, indicating the residential real-estate market continues to firm.
The S&P/Case-Shiller index of property values increased 4.6 percent from January 2014, the biggest gain since September, after rising 4.4 percent the prior month, a report from the group showed Tuesday in New York. That matched the median projection of 28 economists surveyed by Bloomberg. On a national scale, prices rose 4.5 percent from January 2014.
A dearth of supply will continue to drive up home prices heading into the busy spring selling season as demand is spurred by rising rents. Builders like KB Home expect to post strong revenue in the warmer months ahead, based on early signs of strength, particularly among first-time buyers.
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Nina Glinski, BloombergMs. Glinski may be contacted at
nglinski@bloomberg.net
Construction Litigation Roundup: “A Fastball Right to the Bean!”
May 06, 2024 —
Daniel Lund III - LexologyThe Metropolitan Municipality of Lima, Peru, filed suit in federal court in Washington DC to vacate two separate arbitration awards rendered against the city in international arbitration proceedings subject to the Federal Arbitration Act.
The city had contracted to build, improve, and maintain various highways in and around the city. To pay for this infrastructure, Lima agreed that the contractor would “receive revenues from existing and new toll booths.”
Apparently, the City of Lima forgot how much citizens of the area loathed tolls, and, according to the court, the local public officials “quickly truckled” (how apropos for a road project!) to the pressure. As a result, revenues promised to the contractor were not forthcoming, and the city did nothing about it.
The contractor initiated arbitration, and the city countered by arguing that the contractor had bribed its way into the contract. The city lost and was held in breach.
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Daniel Lund III, PhelpsMr. Lund may be contacted at
daniel.lund@phelps.com
Touchdown! – The Construction Industry’s Winning Audible to the COVID Blitz
February 08, 2021 —
Bill Shaughnessy, Jones Walker, LLP - ConsensusDocsCOVID-19 has changed the way we live, work, play football, and build. As with all of society (and our football leagues and teams), the construction industry was impacted over the last year through the implementation of new safety protocols in response to COVID-19. While some construction projects were delayed or put on hold, much of the construction industry was fortunate to continue to build throughout the pandemic. Building under COVID-19 safety protocols led contractors to “call an audible” in order to make up for lost time and to save costs. In doing so, many contractors started incorporating or expanding the use of under-utilized tools, resources, capabilities, and technology such as pre-fabrication, and modular construction, while at the same time reexamining planning methods, monitoring critical schedule activities, and ways to better execute construction.
In many ways, the effects of COVID-19 safety protocols and measures implemented by contractors in the past year have led to more efficient and cheaper construction projects now and for the future. So, it is not surprising as we turn our calendars to 2021 that contractors can expect these tools, resources, and technologies to be utilized more in the years ahead, even once the pandemic subsides. This article highlights some of the “positive” effects of COVID-19 on projects and highlights several ways contractors attempted to increase efficiency and reduce costs in response to the pandemic.
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Bill Shaughnessy, Jones Walker, LLPMr. Shaughnessy may be contacted at
bshaughnessy@joneswalker.com
Nine ACS Lawyers Recognized by Best Lawyers®
September 02, 2024 —
Ahlers Cressman & Sleight PLLCDeparting from our blog’s typical coverage of construction related issues, Ahlers Cressman & Sleight PLLC is proud to announce that nine members of our firm have been recognized by Best Lawyers® in 2025 in America.
Recognition by Best Lawyers® is based entirely on peer review and is designed to reflect the consensus opinion of leading lawyers about the professional abilities of their colleagues. Lawyers can be nominated by clients and other lawyers. After nomination, ballots are generated and distributed to lawyers. Voters are asked how likely they would be to refer a case to the nominee and to give a rating and additional comments. Ballots are designed based on the voter’s practice area and geographic region. After feedback is analyzed, Best Lawyers® research staff ensures nominees are in good standing with the ethics committee of their state bar and selects lawyers for recognition.
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Ahlers Cressman & Sleight PLLC
Congratulations to Woodland Hills Partner Patrick Au and Senior Associate Ava Vahdat on Their Successful Motion for Summary Judgment!
February 14, 2023 —
Dolores Montoya - Bremer Whyte Brown & O'Meara LLPCongratulations to Woodland Hills Partner Patrick Au and Senior Associate Ava Vahdat on their successful Motion for Summary Judgment in Los Angeles Superior Court!
BWB&O’s client was a concrete contractor hired by a government entity for a limited sidewalk repair project many years ago. The Plaintiff, who was confined to a wheelchair, filed suit against BWB&O’s client alleging Negligence and Premises Liability after an alleged fall injury on a public sidewalk. Plaintiff’s primary alleged theory of liability against BWB&O’s client was that it either worked on or was supposed to work on that subject sidewalk and in doing so, or failure to do so, caused Plaintiff’s fall and subsequent alleged injuries/damages. Plaintiff claimed in excess of $1 million in damages.
After extensive discovery, Mr. Au and Ms. Vahdat gathered enough evidence to prove that BWB&O’s client neither worked on the subject area nor was required to do so. Accordingly, they prepared a successful Motion for Summary Judgment on the basis that no duty was owed to Plaintiff thereby refuting the negligence cause of action. The dispositive motion also proved that the subject sidewalk was not owned, controlled, or maintained by BWB&O’s client thereby negating the premises liability cause of action.
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Dolores Montoya, Bremer Whyte Brown & O'Meara LLP
TRI Pointe Merges with Weyerhaeuser’s Real Estate Company
July 09, 2014 —
Beverley BevenFlorez-CDJ STAFFAccording to Big Builder, “TRI Pointe settled--expectedly--on its mammoth $2.8 billion deal to acquire Weyerhaeuser's five home building operations in the Northwest, California/Nevada, Arizona, Texas, and the Mid-Atlantic regions, a talent-rich operator group, 27,000 building lots, and power brand names via a complex Reverse Morris Trust financial transaction.”
This now makes TRI Pointe “one of the top 10 largest public homebuilders in the United States by equity market capitalization based on the closing price of TRI Pointe common stock on July 8, 2014,” according to their press statement, as quoted in Big Builder.
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Civil Engineers: Montana's Infrastructure Grade Declines to a 'C-'
December 23, 2024 —
American Society of Civil EngineersHelena, MT — The Montana Section of the
American Society of Civil Engineers (ASCE) today released the
2024 Report Card for Montana's Infrastructure, assigning 14 categories of infrastructure a cumulative grade of 'C-', which is on par with the national average from the
2021 Report Card for America's Infrastructure. This is a one-notch decrease from the 'C' grade Montana received in its last report in 2018, citing increasingly severe weather events putting strain on aging and underfunded assets, and one of the fastest growing populations requiring expansions of transportation, water and energy infrastructure.
The report includes the first-ever chapter on Montana's broadband infrastructure, assigning an 'I' grade for 'incomplete' due to a lack of sufficient condition data; however, the chapter does note that 71% of Montana residents have access to adequate broadband service, and the IIJA provided nearly $630 million to expand this access across the state.
ABOUT THE AMERICAN SOCIETY OF CIVIL ENGINEERS
Founded in 1852, the American Society of Civil Engineers represents more than 160,000 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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Former Sponsor of the Lenox Facing Suit in Supreme Court
January 13, 2014 —
Melissa Zaya-CDJ STAFFLewis Futterman, former sponsor of the Lenox condominium in Harlem, New York, is being sued by the condo board for alleged “building code violations, construction defects, and fraud” according to New York Curbed. The residents claim that Futterman filed for bankruptcy in 2010 to avoid paying for repairs. The Lenox condo board filed suit in the New York Supreme Court last December 31st.
The Lenox’s condo board claims that the building has “fundamental structural flaws, a defective roof and pervasive leakage,” reports Rowley Amato of New York Curbed. The board also claims the original offering plans were not the same as the units purchased by residents in 2006. Residents paid an estimated two hundred and sixty thousand to repair defects within the condominium, and they are pursuing a minimum of four million in damages.
Katherine Clarke of The Real Deal stated that Futterman would only “say that the issue was between the residents and the construction company which built the project.”
Read the full story at New York Curbed...
Read the full story at The Real Deal...
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