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 …
There was a time when people saw the creation of new structures as the epitome of growth, even if that meant tearing existing buildings down. Between the post-World War II years and the 1980s, many a historic building was razed in the name of “urban renewal” and “progress.” Gratefully, an undercurrent of historical preservation arose, …
Lately, our folks have been involved in more urban projects than in the past. On these jobs, space is premium and “VT” or vertical transportation comes into play. Over the past couple of years or so, we have completed four projects where retail sits above parking. Shopping carts must be transported back and forth. Beyond …
Years ago, a mentor of mine shared that he believed opportunities and technology will have an ever-accelerating speed to market in the construction industry. He was right. Until the advancement of the microchip and computers, changes were slow and steady. But starting in the 90s, what was unachievable began to become achievable. A few technologies …
Birmingham, where our company is headquartered, is a city in transition. We are seeing a renaissance in the urban: Warehouse and industrial areas transforming into top entertainment districts. Long empty buildings being filled with bright new talent and young people. Historic spots getting the credence they’ve always deserved. One locale that’s seen particular change is the …
It wasn’t that long ago–five years maybe–that submitting items to an architect for approval meant making six copies to stamp. We would file two copies and the architect would distribute his four to various engineers and decision makers. Talk about a “paper trail.” Our filing cabinets were bursting at the seams. These days, the process is managed …