Delivering on the Promise of Design-Build

January 15th, 2020|

BY LEHRER CUMMING NOVEMBER 11, 2019 8:43 AM BY LEHRER CUMMING JANUARY 13, 2020 11:46 AM The Office of the New York Governor has embraced the design-build delivery method for construction, and now a number of large projects are proceeding under this approach for agencies such as the New York State Department of Transportation, the Port Authority of New York and New Jersey, and the Empire State Development Corporation. The largest of these, and one of the few which is a building project, is the $1.6 billion expansion of the Javits Convention Center, which is currently progressing on schedule and within budget. Although the design-build methodology is a fairly new concept in the New York building market, it has proven quite successful in other locations and looks to become even more popular going forward. With this in mind, it’s worth taking a closer look at this alternative delivery method. The reason for design-build’s growing acceptance is simple: It offers the opportunity for a fast-track schedule with less risk to the owner, and it encourages the builder to plan ahead to [...]

JV Scores Largest Construction Loan in Fort Lauderdale History

December 10th, 2019|

Madison Realty Capital provided $210 million for the development of Broward County’s first five-star project. DEC 10, 2019 By Adriana Marinescu Developers behind the first five-star project ever to rise in Broward County, Fla., have landed the largest residential construction financing in city history. Fort Partners and Merrimac Ventures secured a $210 million loan for the construction of The Four Seasons Hotel and Private Residences Fort Lauderdale, a luxury 22-story hotel and condo development underway in Fort Lauderdale, Fla. Madison Realty Capital provided the loan in the deal. The developers broke ground on the project in 2018 and completion is slated for 2021, with Coast