January 2014
High-Profile: Awards
46
Hakkasan Wins 2013 ICSC Award Trinity Building + Construction Management Corp. CM
Hakkasan New York New York NY - The InternationThe opulent restaurant boasts highal Council of Shopping Centers (ICSC) end finishes, including green cleft slate announced that Hakkasan New York has flooring, marble walls and ceilings, carved been chosen as a Gold Design and Develdecorative wood, stone, leather, and glass opment Award winner in its annual U.S. elements. The restaurant has seating for Design and Development Awards. A Lon200 and features an elegant bar. don-based, modern Chinese restaurant, The construction team installed Hakkasan opened the doors of its newest various design elements such as carved location in New York’s Time Square in lattice window screens, marble hallways, March 2012. embossed leather panels, and glass and Trinity Building + Construction mirrored partitions. Management Corp. completed the $15 All Gold U.S. Design and Developmillion, 15,000sf restaurant project in ment Award winners are automatically eligible to win ICSC’s VIVA Best-of-the-Best partnership with designer Gilles & Boissier and architect Woods Bagot after 20 Award that will be presented during ICSC’s annual convention in Las Vegas in May. weeks of construction.
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Not Quite There, but We Keep on Swinging Continued from page 17
Overcoming Uncertainty to Make Room for Growth Economic uncertainty continues to be the largest hurdle for construction, which lagged in 2013 primarily because of consumer fear of spending. According to FMI’s Construction Outlook 3rd Quarter Report, commercial construction is still waiting on consumers to recover from debt or find good-paying jobs. Many employers reduced office space last year after staff reductions. The Association of General Contractors (AGC) pointed to the switch from retail shopping to online purchasing as another factor limiting commercial construction. However, we are entering 2014 with a new federal two-year budget deal in place, which could provide a heightened level of predictability. Unemployment is holding steady, and the Federal Reserve will soon begin reducing its qualitative easing program. I wouldn’t characterize these developments as “consumer confidence,” but they do point toward greater economic stability. Stability allows companies to begin emerging from the bunker mentality of the past five years. In 2013, we were happy to see commercial development projects like the Steelepoint Harbor Development in Bridgeport, Conn. take off. What Makes 2014 Different Projects such as Steelepoint Harbor illustrate how construction growth in 2014 will differ from what we’re accustomed to seeing. Usually residential construction
takes off, and the rest of the market follows. The 2014 predictions call for small increases in institutional construction and multifamily housing, with single family homes still stuck in park. Another big difference this year is the minimal planned investment in federal infrastructure. All the data point to reductions in federal funding for building, including roads, bridges, and power lines. If economic factors such as gradually decreasing unemployment and slow-rising consumer spending and interest rates indicate more stability, then federal construction spending is a giant question mark. The federal shutdown in October 2013 unsettled companies working and bidding on federal projects. Earlier automatic sequestration cuts in 2013 eliminated nearly $4 billion in construction from federal discretionary spending. Congress has reached a two-year budget deal, but the debt ceiling fight is looming once again in February. Therefore, the federal government remains a wildcard in construction forecasts for 2014 and beyond. Overall, the news is mostly good – and I didn’t even touch on the predicted 5% rise in manufacturing, an industry many people thought would never come back. While this recovery looks different from previous construction cycles, I think we can all agree there’s a good reason to keep on swinging. Mike Kolakowski is president and CEO of KBE Building Corporation in Farmington, Connecticut.
Bowdoin Wins Multiple Awards For Home for Little Wanderers
Residences Waltham, MA - Bowdoin Construcactive school campus and entailed four tion was recognized recently with three new single-story residence buildings toawards by The Associated Builders and taling 15,000sf, as well as a three-story Contractors for the major expansion and 31,000sf addition to the Longview Educarenovation of The Home for Little Wandertional Center. Bowdoin also renovated the ers Longview Farm Campus in Walpole. existing 16,000sf school building. Bowdoin received an Excellence in In total, the project encompasses Construction Merit Award, as well as Safe62,000sf of new and renovated space featurty and Green Awards for the project. The ing housing for 44 residents, a cafeteria with awards ceremony was held at the Westin commercial kitchen and servery, multiple Waltham hotel on November 20, 2013. classrooms, middle and upper school librarAs construction manager, Bowdoin ies, music rooms and administrative offices, worked in conjunction with The Home’s as well as upgrades to the existing gym and staff, Northstar Project & Real Estate Serlocker rooms and vocational classrooms. vices project managers, and Roundel 47 The project also involved a new architects to provide extensive preconentry drive, staff and visitor parking, imstruction services and full general contractproved septic system, improved stormwaing services. ter drainage / recharge system, new water service, and new landscaping. Construction took place on an