Seattle Washington Building Expert Directory

New Joint Venture to Develop a New Community in Orange County, California

April 08, 2014 — Beverley BevenFlorez-CDJ STAFF
Taylor Morrison Home Corporation and two of its largest shareholders have created a joint venture “to acquire and develop the 195.5 acres of San Clemente coast known as Marblehead,” according to GlobeSt.com. The Scottsdale, Arizona-based developer is expected to begin construction on the 300 luxury home site in 2015. “Marblehead is a truly unique site and one of the last undeveloped tracts of coastal land in California,” said Sheryl Palmer, president and CEO of Taylor Morrison, as quoted by GlobeSt.com. “It presents a tremendous opportunity that will deepen our land inventory of exceptional sites and further our standard of building high-quality homes in premier locations across North America.” Read the court decision
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Homebuilders Opposed to Potential Change to Interest on Construction Defect Expenses

January 22, 2013 — CDJ STAFF
In 2008, the Colorado Supreme Court concluded that in calculating interest on the expense of repairing construction defects would start at the time that the defect was repaired. In 2009, the Colorado State Legislature introduced a bill that would have made homeowners eligible for interest back to the purchase date of their homes. The Colorado Springs Business Journal notes that the Colorado Springs Housing and Building Association is concerned that the legislature might take up the issue again, in which case, the HBA would oppose it. Read the court decision
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Californians Swarm Few Listings Cuts to Affordable Homes

September 24, 2014 — John Gittelsohn and Nadja Brandt – Bloomberg
The 160 units at Santa Monica, California’s Belmar Apartments received 4,600 applications ahead of the project’s July opening, a measure of the competition for scarce affordable housing. The Related Cos. project, where two-bedroom units rent for $946 a month, is among the last built with financing from redevelopment agencies, the taxpayer-backed programs that Governor Jerry Brown eliminated three years ago to help balance California’s budget. Without that source of $1 billion a year, the state’s supply of funds for building low- and moderate-income housing is running dry as real estate prices surge. “The abolishment of the redevelopment agencies by Governor Brown is the single biggest problem” for affordable housing, said William Witte, president of Related’s California division, which also is seeking buyers for condominiums next to Belmar with an average price of $2.4 million. “Since there’s little to no help from the federal government, the loss of redevelopment funds is devastating.” Mr. Gittelsohn may be contacted at johngitt@bloomberg.net; Ms. Brandt may be contacted at nbrandt@bloomberg.net Read the court decision
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Reprinted courtesy of John Gittelsohn and Nadja Brandt, Bloomberg

NY Attorney General to Propose Bill Requiring Climate Adaptation for Utilities

May 21, 2014 — Gerald B. Silverman – Bloomberg
Bloomberg BNA — New York Attorney General Eric T. Schneiderman (D) has proposed legislation to require that New York's electricity and gas utilities assess their vulnerability to the impacts of climate change and prepare a plan for adapting to severe weather. Schneiderman May 19 said the proposed legislation would build on a February decision by the state Public Service Commission (PSC), which approved a plan by Consolidated Edison to spend $1 billion over the next four years for storm hardening and resiliency projects. A spokeswoman for the attorney general told Bloomberg BNA that he is working with members of the Legislature to have the bill formally introduced. The PSC decision also required that all New York utilities integrate the potential impacts of climate change into their system planning and construction forecasts and budgets. Read the court decision
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Reprinted courtesy of Gerald B. Silverman, Bloomberg

New York Climate Mobilization Act Update: Reducing Carbon Emissions and Funding Solutions

August 30, 2021 — Caroline A. Harcourt - Gravel2Gavel Construction & Real Estate Blog
In our June 16 CMA Update, we discussed how the New York City Climate Mobilization Act (CMA) will affect building owners and the market for CMBS mortgage loans (loans pooled and resold as commercial mortgage-backed securities). (For more information on C-PACE financing, see Sustainable Buildings and Development: Carbon Emissions and the Recent Climate Mobilization Act of New York City.) In this update, we will outline some of the funding solutions that are available to New York City building owners looking to retrofit their buildings in order to comply with the CMA’s requirements. Funding Solutions for Covered Building Owners The cost of retrofitting buildings to incorporate energy efficient features and to achieve compliance with the CMA can be daunting. Read the court decision
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Reprinted courtesy of Caroline A. Harcourt, Pillsbury
Ms. Harcourt may be contacted at caroline.harcourt@pillsburylaw.com

ETF Bulls Bet Spring Will Thaw the U.S. Housing Market

April 08, 2014 — Corinne Gretler – Bloomberg
Build it and they will come, if it’s not too chilly. Traders have turned bullish on a security that tracks home construction companies, appliance makers and furniture retailers as spring finally ends the harsh winter. As the SPDR S&P Homebuilders ETF (XHB) heads for its first weekly gain since February, investors are buying options betting that the rebound will keep going. The cost of bullish contracts has risen to the highest versus bearish ones in 2 ½ years. The ETF has gained 2.2 percent this week. The exchange-traded fund of companies such as Ryland Group Inc., Whirlpool Corp. and Home Depot Inc. has rebounded 8 percent after reaching its lowest level this year on Feb. 3 as investors attribute weakness in the housing market to winter weather. Between December and February, snow covered 1.42 million square miles of the continental U.S., the 10th-largest snow cover in records going back to 1966, according to the National Climatic Data Center. Read the court decision
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Reprinted courtesy of Corinne Gretler, Bloomberg
Ms. Gretler may be contacted at cgretler1@bloomberg.net

Biden's Next 100 Days: Major Impacts Expected for the Construction Industry

May 10, 2021 — Tom Ichniowski, Pam Radtke Russell & Bruce Buckley - Engineering News-Record
As President Joe Biden’s busy first 100 days in office—which included enactment of a $1.9-trillion pandemic rescue bill and proposals for two other massive measures—wrap up, the months ahead also are expected to generate plenty of legislative and regulatory action with major impact for the construction sector. Reprinted courtesy of Tom Ichniowski, ENR, Pam Radtke Russell, ENR and Bruce Buckley, ENR Mr. Ichniowski may be contacted at ichniowskit@enr.com Ms. Russell may be contacted at Russellp@bnpmedia.com Read the full story... Read the court decision
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The Power of Planning: Four Key Themes for Mitigating Risk in Construction

November 09, 2020 — Zac Hays - Construction Executive
Construction is, and always has been, known as a relatively risky business. Whether it is dealing with factors that can be controlled or beyond control, proactively managing risk has proven to be of the most critical factors in delivering quality projects faster, more efficiently and with wider margins. Many people assume on-site activities introduce the greatest amount of uncertainty and potential risk. But many mistakes in construction originate in the planning phase – meaning preconstruction is ripe with opportunity to be the most effective place for mitigating risk, saving money and ultimately broadening margins. There are many ways to mitigate risk before projects even start, but four key themes emerge to be clear, repeatable opportunities for success. DIGITIZE THE PLANNING PHASE Preconstruction is where ideas are brought to life by translating architectural designs into a real, constructible plan. Decisions made at this stage can determine the project’s success and profitability – but it’s far from straightforward. Estimating, scheduling and planning are highly complex activities that depend on constantly changing details and are all areas where missed information or miscommunication can lead to costly rework down the line. Reprinted courtesy of Zac Hays, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved. Read the court decision
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