We are currently constructing an urban redevelopment project that will have a value of about $120 million when completed. Approximately 40% of the dollars required are coming from a little-known federal visa program known as EB-5. EB-5, which was designed to promote investment and employment in the US, has gained popularity in the real estate development …
We’re just starting on an apartment project where we decided to go with variable refrigerant flow (VRF) technology for the heating and cooling needs. Instead of each unit having its own HVAC system, these VRF systems use a central condensing unit. Each space is linked digitally to a central controller which manages conditions and monitors usage. Each …
Recently, someone told me that as a country, we are not over “mall-ed,” we are just under-demolished. There is still a place for shopping malls on good real estate, just not as many. Patterns are changing. I traveled to New England this week to visit a couple of our projects. Driving through smaller towns like …
We are finishing a project that features a technology element so proprietary that there are no drawings. Instead, the system manufacturer sent employees to direct which components go where for our “rough in.” This served to protect the intellectual property. Our team took a number of steps to minimize confusion and maximize productivity on this …
In planning our projects, we always look at average weather conditions. Average is a thing of the past, and it seems we are now surprised by reality more often. We had a project in Wisconsin last winter, and we were told it was the coldest in memory. I guess they did not know about this …
For income producing commercial property, Capitalization (Cap) Rates determine property values, a function of the dollars generated by the property and thus the ROI. These cap rates are influenced by a ton of different factors including type of investment, location, potential for increasing cash flow. The lower the cap rate the more valuable the property. …
I’m fortunate to be a part of a solid initiative called Design Alabama. Every year we participate in a Mayors’ Summit, working with five different cities on their most challenging design problems. We just completed our 2015 Summit. A few interesting nuggets I learned about Millennials trends (people born 1979 to 1996) 31% of Millennials prefer …
Recently, we have been in the final lap of the most complex financing project I’ve ever worked on. We’ve been wading through a Historic Tax Credit (“HTC”) and New Market Tax Credit (“NMTC”) deal for a landmark redevelopment urban project. In the beginning, it was like observing alien matter. There were lots of consultants–legal and others–along …
Our first job that dealt with expansive soils (or prairie soils, as they are commonly known) was in Denver. Since then, have used cardboard “carton forms” several times over. Carton or “void” forms are designed to deteriorate and leave empty space under slabs and/or grade beams. Using these forms allows room for the expanding soils …
Sometimes the only place to go is up. Next year, we’re starting a redevelopment for which we and our customer considered several expansion options. One from the early design phase was going vertical above the roof. On the urban stage, we’re seeing more landlords request that their building be designed with potential vertical growth in mind. …
Powder activated fasteners are probably not something that is top of mind for many. But to some, depending upon the way one might have been raised in the business, there is a preference. Both get the job done, but differently. I was talking with one of our project superintendents on a job in Blacksburg recently …
A couple of weeks ago, I was in the Twin Cities visiting some customers. While there, my friend Randy Manthey and his wife Christine invited me to their new flat in downtown Minneapolis. Vélo North Loop, in the Warehouse District near the M River, caters to an active lifestyle, particularly those who bike. They have street level …