Real Estate & Construction News Round-Up 04/13/22
April 25, 2022 —
Pillsbury's Construction & Real Estate Law Team - Gravel2Gavel Construction & Real Estate Law BlogPhishing schemes target the mortgage industry, housing prices rise in Europe as Ukrainian refugees flee from their home country, the SEC announces new climate change regulations that will impact commercial real estate, and more.
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Pillsbury's Construction & Real Estate Law Team
Tennessee Civil Engineers Give the State's Infrastructure a "C" Grade
December 05, 2022 —
American Society of Civil EngineersNASHVILLE, TN. — The Tennessee Section of the American Society of Civil Engineers (ASCE) released the 2022 Report Card for Tennessee's Infrastructure today, with 13 categories of infrastructure receiving an overall grade of a 'C', the same grade given by the section in its 2016 report. That means Tennessee's infrastructure is in mediocre condition and requires attention, but is a step ahead of the national average of "C-" given in the 2021 Report Card for America's Infrastructure. Tennessee's freight network is strong and plays a major role in the national economy as a key mobility hub and its energy grid has been reliable, allowing families and businesses to operate efficiently. Many of the state's systems are performing at or above national averages; however, a surge in population growth, increasingly severe weather impacts, and insufficient data on the current condition of several infrastructure sectors threaten the long-term viability of the state's overall network. Civil engineers graded aviation (C+), bridges (B), dams (D+), drinking water (C+), energy (C+), inland waterways (C), parks (C+), rail (C), roads (C), solid waste (C+), stormwater (C+), transit (D+), and wastewater (C-).
"As one of the most prominent mobility hubs in all of America, infrastructure is the backbone to all we do here in Memphis, and everything we can accomplish throughout the great state of Tennessee," said Memphis Mayor Jim Strickland. "Our airports, roads and bridges keep our economy flowing, drawing more jobs and businesses in the future. The ASCE report is a critical tool for tracking our progress, in addition to highlighting where we could use some work. With more people flocking to Tennessee than ever before, this is an exciting time and our infrastructure networks must be ready to help us capitalize on the opportunity."
To view the report card and all five categories, visit https://infrastructurereportcard.org/state-item/tennessee/.
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 Insurance Costs for New York Schools is Going Up
December 11, 2013 —
CDJ STAFFThe cost of construction insurance for New York City’s School Construction Authority is about to go up and the city’s scaffold law is to blame. As the cost of possible injuries has gone up, so has the cost of covering the insurance. The SCA’s current policy ends at the end of the year, and it’s expected that its insurance costs will triple, with the next two years costing about $650 million. The rising cost of insurance was compared by authority officials to the cost of 10 new schools.
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Brooklyn’s Hipster Economy Challenges Manhattan Supremacy
April 08, 2014 —
Henry Goldman – BloombergMarty Markowitz was strolling in Vienna when he noticed mannequins in a shop window wearing hats emblazoned with Paris, London and Brooklyn. The store had plenty of London and Paris models. Brooklyn was sold out.
“They said they couldn’t restock the Brooklyn hats fast enough,” said Markowitz, 69, who spent 12 years as president of New York City’s most populous borough before retiring in January.
Brooklyn’s cachet as a global brand and epitome of urban hipsterdom is shifting New York City’s center of gravity, reducing the supremacy of Manhattan across the East River and exerting more influence on New York’s political, economic and cultural life. It’s creating jobs and adding residents at a faster pace than any other borough, sparking a boom in commercial development to supply the new masses.
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Henry Goldman, BloombergMr. Goldman may be contacted at
hgoldman@bloomberg.net
U.S. Home Sellers Return for Spring as Buyers Get Relief
February 10, 2014 —
Prashant Gopal – BloombergSuzanne Baker and her siblings bought a foreclosed home in Atlanta two years ago, added a fourth bathroom, then waited for values to rebound before considering a sale. Now, she says, they’re ready to cash in.
The family last month listed the four-bedroom house in the affluent Buckhead neighborhood for $710,000. It was purchased as an investment for about $375,000 in late 2011, before bulk buyers snapped up many of the area’s distressed homes, helping to drive up prices in Atlanta by more than 25 percent.
“The market is back up,” Baker said. “We think we can make a good amount of profit so we’re going to try.”
For two years, a shortage of sellers like the Bakers has propped up prices across the U.S. as shoppers jostled for a dwindling supply of houses. Now, as the market’s busiest season approaches, escalating values are spurring more listings as homeowners regain equity lost in the worst crash since the 1930s. While new-home construction at a third of its 2006 peak will keep inventory tight, the supply increase is poised to damp price gains while higher mortgage rates cut into demand.
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Prashant Gopal, BloombergMr. Gopal may be contacted at
pgopal2@bloomberg.net
Best Lawyers® Recognizes 43 White and Williams Lawyers
September 07, 2020 —
White and Williams LLPThirty-three White and Williams lawyers were recognized in The Best Lawyers in America© 2021. Inclusion in Best Lawyers® is based entirely on peer-review. The methodology is designed to capture, as accurately as possible, the consensus opinion of leading lawyers about the professional abilities of their colleagues within the same geographical area and legal practice area. Best Lawyers® employs a sophisticated, conscientious, rational, and transparent survey process designed to elicit meaningful and substantive evaluations of quality legal services.
In addition, ten associates were recognized as "Ones to Watch” by Best Lawyers®. This recognition is given to attorneys who are earlier in their careers for outstanding professional excellence in private practice in the United States.
We are also pleased to announce two
White and Williams partners have been named Best Lawyers® 2021 "Lawyer of the Year" in Philadelphia – Edward F. Beitz, Medical Malpractice Law – Defendants and William J. Taylor - Construction Law. Read the court decisionRead the full story...Reprinted courtesy of
White and Williams LLP
COVID-19 Business Interruption Lawsuits Begin: Iconic Oceana Grill in New Orleans Files Insurance Coverage Lawsuit
April 20, 2020 —
Jeffrey J. Vita & William S. Bennett - Saxe Doernberger & Vita, P.C.On Monday, the iconic New Orleans restaurant, Oceana Grill, filed the first Coronavirus-related business interruption insurance coverage lawsuit in a US jurisdiction. The declaratory judgment action styled Cajun Conti, LLC, et. al. d/b/a Oceana Grill v. Certain Underwriters at Lloyd’s, London was filed in Louisiana state court for the Parish of Orleans. As a direct result of the government-mandated closures and restrictions on public gatherings implemented by the City of New Orleans and State of Louisiana, Oceana Grill’s petition anticipates a significant loss of business income.
Based on allegations in the petition, there are several aspects of Oceana Grill’s policy that make this a good test case for business interruption coverage stemming from the Coronavirus. Although the specific policy language is not quoted in the petition, coverage provisions are categorically identified throughout.
As a preliminary matter, the policy at issue appears to be written on an “all risks” basis, meaning the insuring agreement of the policy would likely be triggered generally by all risks of “physical loss or damage” unless specifically excluded. This basis for coverage, which is common in property policies, is advantageous to policyholders, as it limits the insured’s burden of proof to establishing that there was physical loss or damage while leaving the burden of applying any more specific exclusion to the insurance company.
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Jeffrey J. Vita, Saxe Doernberger & Vita, P.C. and
William S. Bennett, Saxe Doernberger & Vita, P.C.
Mr. Vita may be contacted at jjv@sdvlaw.com
Mr. Bennett may be contacted at wsb@sdvlaw.com
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Condominium Exclusion Bars Coverage for Construction Defect
August 17, 2011 —
Tred R. Eyerly - Insurance Law HawaiiCoverage was denied under the policy’s condominium exclusion in California Traditions, Inc. v. Claremont Liability Ins. Co.,2011 Cal. App.LEXIS912 (Cal. Ct. App., ordered published July 11, 2011).
California Traditions was the developer and general contractor for a housing development. California Traditions subcontracted with Ja-Con to perform the rough framing work for 30 residential units. The project had 146 separate residences that were freestanding with no shared walls, roof, halls, or plumbing or electrical lines. To allow a higher density development, the project was developed, marketed and sold as condominiums.
The purchaser of one of the units filed a complaint against California Traditions alleging property damage from the defective construction. California Traditions cross-complained against Ja-Con.
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Reprinted courtesy of Tred R. Eyerly, Insurance Law Hawaii. Mr. Eyerly can be contacted at te@hawaiilawyer.com
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