CAMBRIDGE MASSACHUSETTS BUILDING EXPERT
DIRECTORY AND CAPABILITIES

More Money Down Adds to U.S. First-Time Buyer Blues: Economy

August 20, 2014 — Michelle Jamrisko and Alexis Leondis – Bloomberg
The challenges facing prospective buyers of the least expensive homes in the U.S. are getting harder to overcome. Already beset by stagnant wages, growing student debt and competition from investors who are snapping up listings, those looking to purchase moderately priced houses must also provide more cash up front. The median down payment for the cheapest 25 percent of properties sold in 2013 was $9,480 compared with $6,037 in 2007, the last year of the previous economic expansion, according to data from 25 of the largest metro areas compiled by brokerage firm Redfin Corp. The higher bar is a symptom of still-tight credit that is crowding out first-time buyers even as interest rates remain near historical lows. Younger adults, who would normally be making initial forays into real estate, are among those most affected, weakening the foundations of the housing market and limiting its contribution to economic growth. Ms. Jamrisko may be contacted at mjamrisko@bloomberg.net; Ms. Leondis may be contacted at aleondis@bloomberg.net Read the court decision
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Reprinted courtesy of Michelle Jamrisko and Alexis Leondis, Bloomberg

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Restoring the USS Alabama: Surety Lessons From an 80-Year-Old Battleship

November 13, 2023 — Richard Sghiatti - Construction Executive
It’s not every day that a construction company gets to renovate an 80-year-old battleship. Yet that’s exactly where Youngblood-Barrett Construction & Engineering workers found themselves when they began restoring the main deck of the USS Alabama, a storied World War II battleship. The USS Alabama has a remarkable past. One of four South Dakota–class battleships, the “Mighty A” was commissioned in 1942. It deployed first to the Atlantic and then to the Pacific, where it earned nine battle stars for meritorious service. At 680 feet long and 108 feet wide, the “Heroine of the Pacific” had a wartime crew of 2,500 men. By 1962, though, the Navy was ready to scrap it. That’s when the state of Alabama decided to acquire the ship and preserve it as a museum. The USS Alabama was moved to Mobile and opened to the public in January 1965. Reprinted courtesy of Richard Sghiatti, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved. Read the court decision
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Toll Plans to Boost New York Sales With Pricing, Incentives

December 10, 2015 — Prashant Gopal – Bloomberg
Toll Brothers Inc. plans to use competitive pricing and offer buyers incentives to speed up sales at some of its New York City condominium projects. “There are certain units in certain locations within a building that are hot, and then there are other units that may be in a dark, cold corner that you have to incentivize a bit more,” Chief Executive Officer Douglas Yearley said on the company’s earnings conference call Tuesday. While Toll “will not fire-sale it to move” units, “we will price to the market.” Incentives would be offered for certain units at Pierhouse at Brooklyn Bridge Park and 400 Park Ave. South and 1110 Park Ave. in Manhattan, Yearley said. While the supply in New York City has grown most for condos selling for more than $7.5 million, most of Toll’s units are less expensive, he said. Read the court decision
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Reprinted courtesy of Prashant Gopal, Bloomberg

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Sales of New Homes in U.S. Increased 5.4% in July to 507,000

August 26, 2015 — Shobhana Chandra – Bloomberg
Purchases of new homes in the U.S. rebounded in July, bolstering signs the real-estate market is picking up. Sales climbed 5.4 percent, the biggest gain this year, to a 507,000 annualized pace from a 481,000 rate in the prior month, a Commerce Department report showed Tuesday in Washington. The median forecast of 75 economists surveyed by Bloomberg called for 510,000. Demand had declined 7.7 percent in June. Demand for new properties is likely to keep expanding amid strong employment, low borrowing costs and a lack of available existing homes from which to choose. The improving outlook may spur more residential construction, contributing to the economic expansion in the second half of the year. Read the court decision
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Former NJ Army Base $2B Makeover is 'Buzzsaw' of Activity

June 14, 2021 — Tom Stabile - Engineering News-Record
Take a developed property the size of New York City’s Central Park with 5 million sq ft of building area, program in new construction or renovation over 20 years and across three dozen parcels for 1,600 housing units, 300,000 sq ft of civic or government space, 500,000 sq ft for retail and 2 million sq ft of offices, and you have a pretty ambitious undertaking. The $2-billion effort to redevelop Fort Monmouth, a decommissioned former U.S. Army base in the thick of New Jersey’s suburban sprawl, is all kinds of ambitious. Reprinted courtesy of Tom Stabile, Engineering News-Record ENR may be contacted at ENR.com@bnpmedia.com Read the full story... Read the court decision
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Nomos LLP Partner Garret Murai Recognized by Super Lawyers

September 05, 2023 — Garret Murai - California Construction Law Blog
Nomos LLP Partner Garret Murai has been selected to the 2023 Northern California Super Lawyers list in the area of Construction Litigation. This is the tenth consecutive year that he has been recognized by Super Lawyers. Garret was also also featured in this year’s Northern California Super Lawyer’s magazine’s 20th anniversary cover story “Built Different” where he talks a bit about his practice and changes he has seen over the past 20 years as a construction lawyer. The following is an excerpt from the article:

“The New Reality of Work” Garret Murai, whose father was an architect, is a founding partner of Nomos LLP, an Oakland-based construction law firm. Concentrating in both commercial and public works, Murai’s clients run the gamut from contractors and subcontractors to owners and developers.

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Reprinted courtesy of Garret Murai, Nomos LLP
Mr. Murai may be contacted at gmurai@nomosllp.com

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They Say Nothing Lasts Forever, but What If Decommissioning Does?

June 10, 2019 — Stella Pulman - Gravel2Gavel Construction & Real Estate Law Blog
The looming decommissioning liabilities of offshore energy producers have been a focus of the federal government in recent years. One recent case out of the U.S. Court of Federal Claims, Taylor Energy v. United States, highlights the tension between the federal government’s desire to maintain financial security for decommissioning activities, and that of an operator whose security is tied up indefinitely while the government awaits technological advances to allow for safe decommissioning. The case relates to a trust agreement between Taylor Energy and the United States, established to secure Taylor’s decommissioning liabilities for 28 wells in the Gulf of Mexico. Taylor completed certain decommissioning work for which it was reimbursed by the trust. However, with over $400 million remaining in the trust, Taylor and the Bureau of Safety and Environmental Enforcement (BSEE) concluded that the ecological benefits of further decommissioning would be outweighed by the ecological risks. But despite recognizing that the limitations of current technology made the environmental impacts of further decommissioning work unjustifiable, the BSEE declined to release Taylor from its decommissioning obligations and instead decided to await “changes in technology and a better understanding of the undersea environment.” Because Taylor’s decommissioning obligations remained in place, the U.S. refused to release the remaining funds in the trust. Taylor claimed that the United States should release the remaining funds in the trust because “decommissioning the remaining wells is not ‘currently technologically feasible.’” Taylor asserted that Louisiana law applied to the trust agreement, and that under Louisiana law every contract must be completed within an ascertainable term. By holding the trust funds until decommissioning was complete, Taylor argued that the government was essentially holding the funds in perpetuity given the technological infeasibility of completing decommissioning. Taylor also asserted that the agreement was premised on an impossibility (the full decommissioning of the wells), and/or a mutual mistake of the parties (that the wells could be decommissioned). Read the court decision
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Reprinted courtesy of Stella Pulman, Pillsbury
Ms. Pulman may be contacted at stella.pulman@pillsburylaw.com

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90 and 150: Two Numbers You Must Know

July 22, 2019 — Christopher G. Hill - Construction Law Musings
Mechanic’s liens are a big topic here at Construction Law Musings. I’ve discussed everything from the picky nature of this powerful payment tool to the changes that are upcoming on July 1, 2019. Given the strict way that the form and timing of a Virginia mechanic’s lien is so critical, I thought a quick reminder was in order. Two numbers that are critical to the timing and content of any mechanic’s lien are 90 and 150, both found in Va. Code 43-4. 90 days is the time from the last date of work (not invoicing), or last date of the last month in which work was done given proper circumstances. The 90 days prescibes the time during which a contractor can properly record a valid lien. This is a hard deadline and is 90 days, not three months. Miss this deadline and no matter what the type of payment that has not been made (something discussed below), the contractor will lose its lien rights. This is the easier of the two numbers to both understand and apply. Count 90 days from last non-corrective or warranty work and that is your hard out for filing. Read the court decision
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Reprinted courtesy of The Law Office of Christopher G. Hill
Mr. Hill may be contacted at chrisghill@constructionlawva.com

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