About

This blog focuses on real estate, land use and construction-related topics affecting Virginia and the Washington, D.C. metro area. With topics ranging from contract drafting and negotiation to local and regional land use project updates, the attorneys at Bean, Kinney & Korman provide timely insight and commentary on the issues affecting owners, builders, developers, contractors, subcontractors and other players in the industry. If you are interested in having us cover a specific topic, please let us know.

Contact us

Topics

Archives

Select Month:

Contributors

Posts tagged construction.

The second headquarters for Amazon in Arlington, VA is obviously a hot topic in local commercial real estate. Much of the focus so far has been on projected residential price increases and increased commercial leasing. But, let’s not forget about the hotel industry. The forecast for much higher hotel traffic in the area was the reason the Transient Occupancy Tax was included in the incentive package negotiated by the state and local governments. 

“My fellow Americans, ask not what your country can do for you, ask what you can do for your country.”

-President John F. Kennedy

Richmond-based Hourigan Construction has begun work on Phase One of the Marine Security Force Regiment headquarters and compound at the Naval Weapons Station in Yorktown, VA. The new facilities will include a regimental headquarters building, a motor transportation facility, bachelor enlisted quarters, a supply facility and an armory. Upon the completion of Phase One, expected this summer, construction for Phase Two will begin. Phase Two will include a training facility for antiterrorism training.

In light of the recent holiday season, one thing that all construction industry professionals can agree on is that brand protection is a gift whose usefulness never ceases. You understand the significance of it. Your logo may appear on scaffolding, on the tops and sides of buildings or in trade publications. Your safety awards may adorn the walls of your places of business, and the finished products of your lucrative contracts remain the topics of conversation among those who are fortunate enough to live in, work at or otherwise experience the benefits of one or more of your projects.

While largely a focus of ad agencies and public relations companies, brand protection has practical and legal considerations worth considering:

Ask anyone who has several years of experience in construction if they ever engaged in a handshake deal and the answer will be a resounding “yes.” For those unfamiliar with the term, a handshake deal is essentially a verbal commitment that is sealed with a handshake between the contracting parties. Handshake deals were not just limited to transactions between a contractor and an individual. It was, and sometimes still is, common for businesses to engage in sophisticated deals with a simple handshake between business owners. The moment the parties shook hands, reputations were at stake and promises were meant to be kept. While the handshake did not obviate the need for documentation, the value of the handshake was understood to be the cornerstone of what the parties intended to occur for a construction project.

In 2004, 515 Granby, LLC proposed a $180.5 million condo development. With 34 stories and 327 units, Granby Towers would be the tallest building in Norfolk and would revitalize the northern part of the city. The following year, the federal government threatened to condemn the property, causing just enough of a delay for the ebbing economic tide to overtake the Granby Tower project and thwart 515 Granby’s ability to secure financing.