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February 20, 2013News for contractors and the construction industry

  Top Story 
  Infrastructure & Project Focus 
  • Facade change is top priority for $3.7B N.J. mall
    Triple Five, developers of the stalled $3.7 billion American Dream mall project in New Jersey, says the project will not be finished in time for the 2014 Super Bowl. The firm has no set schedule for construction to date but agrees that changing the structure's facade -- which has the "look of a LEGO block project built of rusting cargo container" -- is a priority. The Star-Ledger (Newark, N.J.) (2/19) LinkedInFacebookTwitterEmail this Story
  • $620M residential tower project advances in San Francisco
    A joint venture by Tishman Speyer and China Vanke Co. will develop two residential towers in San Francisco. Dubbed The Infinity, the project will feature a 37-story and a 42-story highrise that together will house 655 condos. The cost of the project is estimated at $620 million. Reuters (2/18) LinkedInFacebookTwitterEmail this Story
  • InterContinental hotel to be part of $300M Tenn. mixed-use project
    A letter of intent has been signed by Alex. S. Palmer & Co. and Concord Hospitality to add a 200-plus room InterContinental hotel to Palmer's West End Summit project in Nashville, Tenn. The West End project consists of a pair of "Silver LEED-certified office towers," a fitness center, a 2,800-space parking garage and spaces for retail and dining. The cost of the entire development is expected to top $300 million. Commercial Property Executive (2/18) LinkedInFacebookTwitterEmail this Story
  Economic Update 
  • Obama warns of harm to economy if sequester takes effect
    President Barack Obama said thousands of jobs and the U.S. economy will be put in danger if the budget sequester takes effect March 1, imposing $85 billion in spending cuts. He appealed to Republican lawmakers to back a debt-reduction plan that relies on a combination of revenues from eliminating tax breaks for the wealthy and a spending reduction. Republicans said Obama was merely trying to shift the blame for the sequester. USA Today (2/19), NBC News/First Read blog (2/19), The Washington Post (2/19) LinkedInFacebookTwitterEmail this Story
  • Business lending surges as banks seek growth
    U.S. businesses are inundated with so many inexpensive loans that banks' margins are coming under pressure. Commercial and industrial loans increased 16% in 2012, according to SNL Financial. A Federal Reserve survey found narrowing loan spreads and relaxed lending standards. The Wall Street Journal (2/19) LinkedInFacebookTwitterEmail this Story
  Innovation & Green Building 
  • New glass would turn buildings into solar cells
    A special glass that generates electricity from the sun and can be made in most colors is closer to commercial use for construction, effectively turning buildings into photovoltaics. The glass would add about 10% to the costs above the price of traditional construction materials. The Guardian (London) (2/12) LinkedInFacebookTwitterEmail this Story
  Policy Watch 
  • Texas mayors support bill creating $2B water development fund
    Texas mayors in Austin, Dallas, Houston and Mesquite support a proposal to create a $2 billion revolving fund to finance state water projects. However, Dallas Mayor Mike Rawlings wants the permitting process for the construction of new water facilities to be revised. "The lengthy permitting process creates a situation where local governments must make a wager on getting water," Rawlings said. "If we don't deal with these water needs, in 2060 it will cost us about half a million jobs in the area and $64 billion in projected income." Associated Press (2/19), The Dallas Morning News (free content) (2/19) LinkedInFacebookTwitterEmail this Story

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  Association News 
  • California charity selected for next Operation Opening Doors project: Learn how you can help
    AGC Charities has selected Palm Springs, Calif.-area charity Angel View for its next Operation Opening Doors project. The group provides a host of services for local disabled children. AGC Charities, with the leadership of Hensel Phelps Construction, will renovate the facilities' outdoor therapy area, improve access to the facility and replace aging and damaged doors and wainscoting. AGC Charities is looking for volunteers, supplies and donations. Visit and watch this video to learn more about the project and how you can help. LinkedInFacebookTwitterEmail this Story
  • AGC of America‚Äôs Constructor magazine team launches Constructor Marketplace
    AGC of America’s Constructor magazine team, headed by Naylor, LLC, has launched its Constructor Marketplace. The marketplace is an online buyers’ guide for information about construction vendors, products and services. Information on AGC service and supply firms are listed by category -- in order to make sure your listing is accurate and up to date, please take a few seconds to review your listing. Should you need to update your company’s information, please contact Pam Dissel at Constructor’s Online Buyer’s Guide (Constructor Marketplace) is brought to you by Constructor, the magazine of The Associated General Contractors of America. This Buyers’ Guide is not the AGC Online Member Directory. To access the AGC Member Directory, please visit LinkedInFacebookTwitterEmail this Story
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We must travel in the direction of our fear."
--John Berryman,
American poet and scholar

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