Category archive

News - page 146

3010 Apartments Win National Historic Preservation Award

in News

Trivers Associates is celebrating the recognition awarded to the 3010 Apartments renovation for historic preservation.

The 2015 National Trust/HUD Secretary’s Award for Excellence in Historic Preservation was presented to the 3010 Apartments Limited Partnership for rehabilitating and transforming a historic home for orphaned and abandoned boys into affordable housing.

The Award for Excellence in Historic Preservation recognizes efforts that both advance the Nation’s historic preservation goals and provide affordable housing and economic development opportunities for low- and moderate-income residents.

The 3010 Apartments building is listed in the National Register of Historic Places as Father Dunne’s News Boys’ Home and Protectorate. The home was established in 1906 by Father Peter Joseph Dunne at 3010 Washington Avenue, St. Louis, Missouri. In 1907, the 3-story home with an attached two-story chapel over an institutional kitchen and a detached laundry building were completed. The facility was enlarged substantially in 1911 by a 3-story addition at the protectorate’s east end.

For over 100 years, this historic building complex provided shelter and care to the homeless, initially for orphaned and abandoned boys, and after the Salvation Army renovated it in 1970 as the Harbor Light Center, the facility served people affected by addiction, chronic homelessness and various disabilities.

The recent historic rehabilitation of the building complex converted the existing barracks-like institutional housing into 58 one-bedroom, private residential apartments for low- to very low-income adult residents, with preference given to veterans and the disabled, especially the homeless.

Rehabilitation was accomplished without drastically altering the interiors and retained several historic elements, such as the main entry and its broad staircase. The building complex’s many stained glass windows, including those in private apartments, were also repaired and retained. The original hallways were preserved along with the rhythm of historic millwork: chair rails and slightly recessed, transomed wood paneled doors that now serve as entrances to many of the apartments. Additionally, the reception room, which contains columns and elaborate plaster moldings, was restored to its original appearance and is now used a communal lounge for residents.

Modest Expansion for Architecture Billings Index

in News

Business conditions softening most in Midwest in recent months 

The Architecture Billings Index saw a dip into negative terrain for the first time in five months in January, but inched back up in February with a small increase in demand for design services.  As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lead time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the February ABI score was 50.3, up slightly from the mark of 49.6 in the previous month. This score reflects a minor increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 59.5, up from a reading of 55.3 the previous month.

“March and April are traditionally the busiest months for architecture firms, so we should get a clearer reading of underlying momentum over the next couple of months,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD.  “Hopefully the relatively mild weather conditions recently in most parts of the country will help design and construction activity move ahead at a somewhat faster pace.”

 Key February ABI highlights:

  • Regional averages: South (51.1), West (49.9), Northeast (49.5), Midwest (49.3)
  • Sector index breakdown: multi-family residential (53.0), commercial / industrial (52.3), institutional (48.1), mixed practice (47.7)
  • Project inquiries index: 59.5
  • Design contracts index: 51.7

The regional and sector categories are calculated as a 3-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.

The Architecture Billings Index (ABI), produced by the AIA Economics & Market Research Group, is a leading economic indicator that provides an approximately nine to twelve month glimpse into the future of nonresidential construction spending activity.

The Korte Company Named Contractor Of The Year, Las Vegas

in News

During the 19th Annual Spotlight Awards, The Korte Company was named General Contracting Firm of the Year by the NAIOP Southern Nevada Chapter. The Spotlight Awards honors distinguished companies in the local development community who positively impact the industry and increase awareness through their outstanding achievements.

In addition to being named General Contractor of the Year, The Korte Company was recognized for their work on the Discovery Children’s Museum, located in downtown Las Vegas. The 54,000 square foot tenant improvement project was the recipient of an Honors Award.

“We are honored to be named as the General Contractor of the Year, and it is a direct reflection of the partners, subcontractors and vendors we work with”, according to Greg Korte, President of The Korte Company’s Las Vegas division.

The Korte Company, founded in 1958, is headquartered in St. Louis, Missouri with offices in Highland, Illinois; Norman, Oklahoma; and, Las Vegas, Nevada. The company manages, on average, an excess of $200 million in annual construction volume.

The Korte Company’s project expertise includes building for federal, state and local government agencies as well as the design and construction of healthcare facilities, medical office buildings, warehouse/distribution centers, religious facilities, commercial buildings, schools, recreation centers and office complexes.

Growth Postponed: The Fed Rate and Its Impact on the Construction Sector

in News

Yesterday, (March 16, 2016) the Federal Open Market Committee (FOMC) chose to delay an increase in the federal funds rate. This decision was based on uncertainties regarding growth in the global marketplace. Policymakers project that economic growth will be weaker than expected and inflation levels will remain low during 2016. Fed policymakers have adjusted their inflation forecast for 2016 to 1.2%, down from 1.6%. These factors have played a role in the decision to leave rates unchanged. Consequently, borrowing costs will remain favorable for commercial banks and businesses. However, favorable short-term interest rates will likely be short lived as the labor market continues to strengthen and the economy expands. In December of 2015, short-term interest rates were raised for the first time since the financial crisis from near zero to 0.25% with the intention of gradually returning interest rates to more normal levels. Over the course of 2016, the Fed will meet two more times to vote on future federal funds rate increases.

Pushback on future rate hikes is expected from investors and businesses that fear that economies abroad are too fragile for domestic businesses to expand. Weakening global markets not only slow the pace of domestic inflation, they also lead to volatile manufacturing output levels. Stakeholders dread that the rise in interest rates will cause domestic consumers and businesses to spend less. Despite such concerns from investors and businesses, the FOMC will likely allow domestic market conditions to determine the pace of future federal funds rate hikes, and projections indicate further growth of about half a percentage point by the end of 2016.

Should construction firms rent or buy?

The decision to leave interest rates unchanged will benefit domestic businesses that often make large capital expenditures. For example, firms within the construction sector finance or lease equipment, office space and other related overhead necessary to tackle construction projects. Because the cost of financing and leasing such capital is highly sensitive to changes in the federal funds rate, construction firms that rely on equipment financing can effectively budget for the cost of upcoming equipment purchases.

However, with higher interest rates on the horizon, equipment financing will become a less attractive option for construction firms in need of loans. IBISWorld forecasts that the price of equipment financing services will increase at an average annual rate of 5.6% from 2016 to 2019. Construction firms can leverage the availability of rental services to avoid greater up-front costs. Rates for equipment rental services, including earthmoving machinery rental, aerial lift rental, forklift rental and industrial truck rental, are projected to rise as well, but renting may still provide a more favorable option to businesses contending with higher interest rates. With rates on the rise, contractors and other construction firms reliant on financing for capital purchases should consider engaging in contracts now to hedge against steadily rising costs brought on by an increase in the federal funds rate.

HOK Principal Earns Honor for One World Trade Center Work

in News

Fifteen years ago, HOK Technical Principal Angelo Arzanoemerged from a building into the choking dust just blocks from the collapsed twin towers in New York on 9/11. Little did he know that he would later spend four years of his life at the design firm Skidmore, Owings & Merrill as senior project architect on the symbol of America’s resilience – One World Trade Center (One WTC).

Today, he’s reaping the rewards of his work as the national construction industry weekly Engineering News Record (ENR) has named One WTC one of the world’s best projects.

Arzano joined the HOK St. Louis office in 2013 and is now executing the design the firm’s largest project locally, the BJC HealthCare Washington University School of Medicine Campus Renewal.

Kadean Construction Completes ‘Aviator 7’ As 21st Century Business Park Takes Shape In Hazelwood

in Departments/News

Kadean Finishes Its Third Building in Aviator Business Park on the Site of the Former Ford Motor Plant

Nearly 10 years to the day, when the last Ford Explorer rolled off the assembly line in Hazelwood, Fenton-based Kadean Construction has completed Aviator 7, a 535,500 square foot light industrial facility for Panattoni Development.

Aviator 7 is one of six massive buildings planned for the expansive Aviator Business Park, located in Hazelwood, MO, about a mile north of Lambert-St. Louis International, on the site of the old Ford Motor Co. plant that closed on March 8, 2006. Another half-dozen smaller commercial facilities also will be located in the business park, which covers 155 acres.

“In working with Panattoni Development, we constructed Aviator 7, which is ideal for light industrial and commercial use,” said John Piedimonte, vice president of Kadean Construction. “We’re very proud of the quality and workmanship that went into this tremendous building, which has 12.3 acres under one roof.”

Aviator 7’s first tenant is Chesterfield-based Silgan Plastics, which leases 327,750 sq. ft. for production, warehousing and mechanical space, and another 7,500 sq. ft. area for a quality control lab, offices, training and conference rooms, a cafeteria, and other uses. Silgan’s portion of the building also has six hydraulic docks (leveler systems) and seven standard docks.

Silgan Plastics is a leading manufacturer of plastic containers in North America for a variety of industries, including personal care, food, health care, household, and industrial chemical sectors.

It leases nearly two-thirds of Aviator 7, and eventually plans to employ as many as 120 men and women at the facility, said Silgan Plastics President Jay Martin.

In late January, St. Louis-based Weekends Only Furniture and Mattress Co. also opened a huge distribution center in an adjoining 133,500 sq. ft. space with 40-foot ceilings and 22 loading docks.

It will serve as the main distribution center for Weekends Only’s five stores in the greater St. Louis area and another in Indianapolis, said Dionne Dumitru, the company’s chief operating officer.

“When the new offices are completed, our Distribution Center will support over 60 employees in warehouse distribution, home delivery, call center and furniture repair functions,” she said. “We took this opportunity to bring all of our supply chain and service operations into a single facility, so that we will be able to meet our customers’ needs seamlessly while saving them money – which is our company’s mission.”

The new distribution center will be used to keep the Weekends Only stores fully stocked with a wide array of furniture for retail sales. Customers also will be able to pick-up purchased furniture at the Aviator 7 building, if a local store is out of a specific item.

The company also has moved its Repair Center to the new facility and plans to relocate its Quality Care Center to the Hazelwood facility later this month after completing construction on adjoining offices. Both operations have been based in nearby Bridgeton.

Privately-owned International Food Products was the first tenant in the business park, and occupies a 227,500 square foot production facility also built by Kadean Construction, adjacent to Aviator 7.

With operations throughout the United States, IFP manufactures custom formulations for the food, beverage and dairy industries throughout the U.S., Canada, Mexico and the Caribbean.

“Panattoni Development has done a great job with this site, and we’re excited about the future of Aviator Business Park, where we’ve now built Aviator 3, 4, and 7,” Piedimonte said. “But, we construct more than quality buildings.

“We enable jobs to flourish and dreams to come alive, and that’s our goal. We want our customers and their tenants to succeed and to make a real difference, and we see it happening here,” he said.

Kadean Construction is a St. Louis-area based construction company that specializes in pre-construction, design-build, construction management, and general contracting at the regional national level.

Business Executive Ravi Norman to Deliver Keynote Address at 2016 Business Diversity Forum

in News

Friday, April 1, 2016 – Lambert Airport Terminal 1, Concourse B – 8:00 a.m. – 12:00 p.m.

Ravi Norman is a dynamic leader, inspiring speaker, and the perfect fit for this year’s Forum, “Diverse Opportunities to Create New Successes.” Norman is CEO of THOR Construction, a full-service commercial construction company with an extensive client list throughout the world. THOR is among the largest African American companies in the nation, averaging $110 million in annual revenue for the past three years, including $150 million in 2015. The company is based in Minneapolis with offices in eight cities, including one in St. Louis.

A visionary by nature, Norman created a “SIT-EAT-GROW” model that serves as the basis for his vast mentorship activities and speaking engagements. He collaborates with Fortune 500 corporations and non-profit organizations to develop innovative solutions to maximize diversity and inclusion.

Norman’s decade-long executive leadership at THOR Construction includes six years leading the company’s strategic direction. He possesses over 18 years of expertise in the areas of strategic management, organizational development and commercial finance.

The company is known for its work in hospitality, entertainment/multi-purpose venues, retail, education and community focused development. Recent projects include U.S. Bank Stadium, home to the Minnesota Vikings football team, Mandalay Bay Convention Center in Las Vegas, Wells Fargo & Co. and the University of Minnesota.

We are proud to welcome Norman as keynote speaker this year. Admission to the Forum is free. Advance registration is required. Free parking will be available in the Terminal 1 Short Term Parking Garage.

Register Now!

Total Value Of World’s Biggest Real Estate Firms Revealed

in News

The world’s top 100 real estate companies own $3.6tn (£2.5tn) of property, according to the latest Estates Gazette ranking.

The list, revealed on a new dedicated global property investment website www.globalrealestateinsight.com, shows that only the US, China, Japan and Germany have larger GDPs than the collective value of EG’s Top 100 global property owners.

The total value this year increased by more than $400bn.

Canada-based Brookfield Asset Management tops the rankings for the third year in a row with almost $130bn of assets. US giant Blackstone takes second place with $94bn and TIAA-CREF third with assets under management of $89m.

US firms were the largest contingent in the top 100 with a combined asset value of $1.3tn. China held the next biggest slice of the ranking with a total value of $621.5bn.

Together North American and Asian real estate firms hold $2.8tn of assets, representing 88% of the total 100.

The UK appears in the list 10 times with a total combined asset value of $219.9bn.

To make it on to the list this year, firms had to own property valued at more than $12.4bn.

Samantha McClary, head of content at Estates Gazette, said: “Our Global 100 list, which is based on real assets rather than property securities and debt, shows how big a business the international real estate market is.

“The list, now in its third year, continues to grow with new firms appearing every year. The appearance of more property owners from new locations shows just how global a playground the real estate industry is. Four Japan-based businesses made it on to the 2016 list, a 100% increase on last year. Together they own almost $140bn of property. Figures like this show just how important and in demand information and advice on the global real estate market is, which is why EG has launched its specialist global website, GlobalRealEstateInsight.com.”

Emily Wright, global editor, said “As cross-border and domestic investment in real estate around the world reaches dizzying heights, knowing exactly when, where and how to splash the cash has never been more important. Global Real Estate Insight is here to help.

“From exclusive global rankings to essential data, high profile interviews and region by region guides to the global real estate market, Estates Gazette’s new global website is the place to go for in depth research, data, news and analysis from around the world.”

For the full list of global property giants visit: www.globalrealestateinsight.com

Kadean Construction Completes ‘Aviator 7’ As 21st Century Business Park Takes Shape In Hazelwood

in News

Kadean Finishes Its Third Building in Aviator Business Park on the Site of the Former Ford Motor Plant

Nearly 10 years to the day, when the last Ford Explorer rolled off the assembly line in Hazelwood, Fenton-based Kadean Construction has completed Aviator 7, a 535,500 square foot light industrial facility forPanattoni Development.

Aviator 7 is one of six massive buildings planned for the expansiveAviator Business Park, located in Hazelwood, MO, about a mile north of Lambert-St. Louis International, on the site of the old Ford Motor Co. plant that closed on March 8, 2006. Another half-dozen smaller commercial facilities also will be located in the business park, which covers 155 acres.

“In working with Panattoni Development, we constructed Aviator 7, which is ideal for light industrial and commercial use,” said John Piedimonte, vice president of Kadean Construction. “We’re very proud of the quality and workmanship that went into this tremendous building, which has 12.3 acres under one roof.”

Aviator 7’s first tenant is Chesterfield-based Silgan Plastics, which leases 327,750 sq. ft. for production, warehousing and mechanical space, and another 7,500 sq. ft. area for a quality control lab, offices, training and conference rooms, a cafeteria, and other uses. Silgan’s portion of the building also has six hydraulic docks (leveler systems) and seven standard docks.

Silgan Plastics is a leading manufacturer of plastic containers in North America for a variety of industries, including personal care, food, health care, household, and industrial chemical sectors.

It leases nearly two-thirds of Aviator 7, and eventually plans to employ as many as 120 men and women at the facility, said Silgan Plastics President Jay Martin.

In late January, St. Louis-based Weekends Only Furniture and Mattress Co. also opened a huge distribution center in an adjoining 133,500 sq. ft. space with 40-foot ceilings and 22 loading docks.

It will serve as the main distribution center for Weekends Only’s five stores in the greater St. Louis area and another in Indianapolis, said Dionne Dumitru, the company’s chief operating officer.

“When the new offices are completed, our Distribution Center will support over 60 employees in warehouse distribution, home delivery, call center and furniture repair functions,” she said. “We took this opportunity to bring all of our supply chain and service operations into a single facility, so that we will be able to meet our customers’ needs seamlessly while saving them money – which is our company’s mission.”

The new distribution center will be used to keep the Weekends Only stores fully stocked with a wide array of furniture for retail sales. Customers also will be able to pick-up purchased furniture at the Aviator 7 building, if a local store is out of a specific item.

The company also has moved its Repair Center to the new facility and plans to relocate its Quality Care Center to the Hazelwood facility later this month after completing construction on adjoining offices. Both operations have been based in nearby Bridgeton.

Privately-owned International Food Products was the first tenant in the business park, and occupies a 227,500 square foot production facility also built by Kadean Construction, adjacent to Aviator 7.

With operations throughout the United States, IFP manufactures custom formulations for the food, beverage and dairy industries throughout the U.S., Canada, Mexico and the Caribbean.

“Panattoni Development has done a great job with this site, and we’re excited about the future of Aviator Business Park, where we’ve now built Aviator 3, 4, and 7,” Piedimonte said. “But, we construct more than quality buildings.

“We enable jobs to flourish and dreams to come alive, and that’s our goal. We want our customers and their tenants to succeed and to make a real difference, and we see it happening here,” he said.

Kadean Construction is a St. Louis-area based construction company that specializes in pre-construction, design-build, construction management, and general contracting at the regional national level.

Megan Banks Honored by St. Louis American Foundation at 6th Annual Salute to Young Leaders Awards

in News

Megan Banks, a Project Engineer at S. M. Wilson & Co., was one of 20 African-American professionals under the age of 40 to be honored at the St. Louis American Foundation’s 6th Annual Salute to Young Leaders on February 25.  Megan was recognized for her excellence in work and in her commitment to community building through service to others.

“Megan is a dedicated, determined and inspirational young woman,” said Amy Berg, President of S. M. Wilson. “She is well respected by her peers, and continually goes above and beyond her job requirements to better the project and the people around her.”

“When it comes to mentoring students, I tell them you can overcome any obstacle and achieve everything you put your mind to, especially as a young engineering student,” Megan told the St. Louis American.  “When you want something bad enough, you fight for it.  You don’t stop until you have achieved it.  There will be T’s to cross and I’s to dot, there will be impediments that may seem unattainable, and not everyone will be on your side or consistently support you. But you can make it.  Greatness lies within each of us.”

Megan began her career as an intern at S. M. Wilson nearly four years ago after earning a B. S. in Construction Management at Southern Illinois University-Edwardsville.  Since then, she has worked on several high-profile projects, including projects for BJC HealthCare and Blessing Hospital and now the City Walk high rise development in the Central West End.  Megan is responsible for interacting with subcontractors and suppliers to manage material procurement. She reviews, organizes and manages the submittal process and assists with pricing owner requests. Megan also manages all of the documents for the project through an electronic application.

S.M. Wilson is a full-service construction management, design/build and general contracting firm with headquarters in St. Louis

0 $0.00
Go to Top