Best U.S. Home Sales Since 2007 Show Momentum in Housing Market
August 26, 2015 —
Sho Chandra – BloombergAmerica’s housing market has been heating up this summer.
Purchases of previously owned homes unexpectedly rose in July for a third straight month to reach the highest level since February 2007, figures from the National Association of Realtors showed Thursday. The gain was driven by stronger sales of single-family houses even as the share of first-time buyers shrank.
A limited number of available properties is keeping prices elevated, giving homeowners the financial flexibility to trade up as their housing equity improves. The data and a recent report showing the strongest rate of residential construction since 2007 are consistent with the Federal Reserve’s view that the industry is making progress.
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Sho Chandra, Bloomberg
NYC’s First Five-Star Hotel in Decade Seen at One57 Tower
July 02, 2014 —
Heather Perlberg – BloombergHyatt Hotels Corp. (H) is seeking to make its Park Hyatt New York, opening next month at the base of the ultra-luxury One57 condominium tower, Manhattan’s first new five-star hotel in more than a decade.
The 25-floor property is making its debut on West 57th Street in the area known as Billionaires Row for its residential skyscrapers with apartments costing tens of millions of dollars. Plans for the Park Hyatt call for 210 guest rooms starting at $795 a night, spa-treatment suites with private balconies, and amenities such as an indoor pool with underwater speakers that pipe in music from neighboring Carnegie Hall.
Hyatt is seeking a competitive edge in Manhattan, where it already operates seven properties, none rated five stars, said Steve Haggerty, global head of real estate and capital strategy for the Chicago-based company. The new Park Hyatt would be the city’s first hotel with the coveted distinction since 2003, when the Mandarin Oriental opened in the nearby Time Warner Center. Since then, most growth in the city’s lodging market has been in the select-service category, hotels that offer few amenities and cost less to operate.
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Heather Perlberg, BloombergMs. Perlberg may be contacted at
hperlberg@bloomberg.net
Ohio Condo Owners Sue Builder, Alleging Construction Defects
September 10, 2014 —
Beverley BevenFlorez-CDJ STAFFSeventy-four condominium owners that reside in the Villas at Northstar in Westerville, Ohio, have sued Romanelli & Hughes, the builder, for alleged construction issues that led to water intrusion, according to The Columbus Dispatch.
“There have been noted deficiencies at every building out there, with both the roofs and wall systems,” Kevin Fields, a partner at Kasman & Cusimano, the firm that is representing the condo owners, told The Columbus Dispatch. “There’s been severe water infiltration through the walls, which has caused underlying damage, and various roof leaks and roofs not properly secured — in essence, sliding off the buildings.”
Counsel for the builder, Gabe Roehrenbeck, a partner with Thompson Hines law firm, stated that “he could not comment on the specifics of the case…because he has not had time to analyze it.” But he issued the statement, “Romanelli & Hughes is an award-winning builder that over the course of more than 40 years has built a reputation for client service and satisfaction.”
Construction defects listed in the suit include “failure to install or improper installation of flashing, ice shields, roofing paper, shingles, control joints in stucco and weather-resistant barriers.”
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Reasonableness of Liquidated Damages Determined at Time of Contract (or, You Can’t Look Back Again)
October 05, 2020 —
Christopher G. Hill - Construction Law MusingsI’ve discussed the continuing litigation between White Oak Power Constructors v. Mitsubishi Hitachi Power Systems Americas, Inc. previously here at Construction Law Musings because the case was another reminder that your construction contract terms matter and will be interpreted strictly here in the Commonwealth of Virginia. The prior opinion in this case from the Eastern District of Virginia court the Court considered the applicability of a liquidated damages provision. In the latest opinion from the Court (PDF) the Court looked at when and how any liquidated damages would be calculated. In its June 22, 2020 opinion, the Court put the issue as follows:
White Oak’s motion for partial summary judgment presents a narrow issue: whether courts may consider the damages actually sustained by a party as a result of a contract breach when deciding if liquidated damages required by a contract “grossly exceed” a party’s actual damages.
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The Law Office of Christopher G. HillMr. Hill may be contacted at
chrisghill@constructionlawva.com
The Rise Of The Improper P2P Tactic
September 18, 2023 —
Tim Capowski - Kahana FeldAbout a year ago a colleague brought my attention to the increase in irrelevant, inflammatory, scandalous, and improper language in plaintiff pleadings in catastrophic injury, fire, and death cases. Since that time, the problem has only intensified around the country. The purpose of this improper practice is multifaceted, and has nothing to do with properly or sufficiently pleading a lawsuit. Primarily, it is designed to create ready-made and targeted sensational content for news organizations to publish and re-publish (and for news bots to disseminate) to poison the future jury pool. The lay public interprets this content as imbued with credibility not only because it emanates from sworn or verified court filings but because it carries the further patina afforded by multiple news sources’ reliance on it. This method of pleading-to-press (hereinafter “P2P”) publicity attack carries far more weight than mere press conference allegations. Ironically, P2P is demonstrably wrong because a plaintiff counsel making the identical assertions at a press conference or via a press release during litigation would be subject to libel claims (litigation privilege does not attach), gag orders, and professional misconduct referrals in most jurisdictions. Just like the Reptile attacks are simply a repackaged variant of the long precluded “Golden Rule” tactic, the P2P attacks are nothing more than a very clever but highly improper way to circumvent the press conference publicity impropriety; the defense bar and judiciary simply haven’t caught up with it yet.
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Tim Capowski, Kahana FeldMr. Capowski may be contacted at
tcapowski@kahanafeld.com
“Source of Duty,” Tort, and Contract, Oh My!
September 06, 2023 —
Christopher G. Hill - Construction Law MusingsHere at Construction Law Musings, I have discussed the general rule in Virginia that
tort and contract do not mix. I have also discussed a
few narrow exceptions. A Virginia Supreme Court case from October of 2019 lays out both sides of this issue in one glorious opinion.
In
Tingler v. Graystone Homes, Inc., a summary of the facts and lawsuit(s) are as follows: Water leaks developed after the home was built. Graystone’s post-construction efforts to repair the leaks and remediate mold were unsuccessful. The Tinglers and their children abandoned the home after developing mold-related medical problems. The Tinglers and their children sued Graystone in tort for personal injury, property damage, and economic loss. In other litigation that will not be discussed in this post, but that is described in the opinion linked above, Belle Meade sued Graystone in contract for property damage and economic losses. George and Crystal Tingler filed a separate complaint alleging the same contract claims.
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The Law Office of Christopher G. HillMr. Hill may be contacted at
chrisghill@constructionlawva.com
New Mexico Architect Is Tuned Into His State
February 08, 2021 —
David M. Brown - Engineering News-RecordFor 40-plus years, Van Gilbert has combined his love for the topography, history and culture of New Mexico with an equally passionate dedication to designing not just structures, but buildings that help create communities.
Reprinted courtesy of
David M. Brown, Engineering News-Record
ENR may be contacted at ENR.com@bnpmedia.com
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South Carolina’s New Insurance Data Security Act: Pebbles Before a Landslide?
June 13, 2018 —
Richard Borden, Sedgwick Jeanite & Joshua Mooney - White and Williams LLPThe ramp-up of cybersecurity regulation, albeit in a patchwork fashion through state-level legislation, has begun. On May 18, 2018, South Carolina enacted the Insurance Data Security Act (Act), becoming the first state to pass legislation based upon the Insurance Data Security Model Law that was approved by the National Association of Insurance Commissioners (NAIC) last October. The Act makes very little change to the model law’s text, which in turn, is based on 23 NYCRR § 500, et seq., the cybersecurity regulations promulgated by the New York State Department of Financial Services in March 2017. The Act establishes stringent standards for both data security programs, and an entity’s response to a “cybersecurity event” through an organized and methodical investigation and notification to the state’s Department of Insurance. Like New York’s cybersecurity regulations, the Act requires insurers to submit to the Department of Insurance annual certification of compliance and has a ratcheted implementation of portions of the legislation on insurers and brokers operating or otherwise licensed to do business in the state. It does not create a private cause of action.
Reprinted courtesy of White and Williams LLP attorneys
Richard Borden,
Sedgwick Jeanite and
Joshua Mooney
Mr. Borden may be contacted at bordenr@whiteandwilliams.com
Mr. Jeanite may be contacted at jeanites@whiteandwilliams.com
Mr. Mooney may be contacted at mooneyj@whiteandwilliams.com
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