Skanska to finish The Peninsula; The Vu scratched!

Started by thelakelander, June 22, 2007, 10:12:21 AM

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thelakelander

June 22, 2007, 10:12:21 AM Last Edit: June 22, 2007, 10:14:07 AM by thelakelander
The Vu has been eliminated and Shanska will finish the Peninsula, in place of Auchter.

QuoteJacksonville Business Journal - June 22, 2007by Christian ConteStaff Writer

SOUTHBANK -- Skanska USA Building Inc. has taken over construction of The Peninsula.

This is the international construction company's first project with developer American Land Ventures, but not the first time it was recommended by a surety company to finish what another company started.

"We're called on pretty frequently to take over for other contractors," Skanska spokeswoman Jessica Murray said.

Skanska stepped in with an interim contract about five weeks ago when Arch Insurance Group in Philadelphia took over the construction of the 36-story luxury condominium at 1403 Riverplace Blvd. after the former builder, The Auchter Co., stopped paying its subcontractors, Murray confirmed. She declined to comment on the value of the interim contract.

In March, Auchter and Perry-McCall Construction announced plans to form a new company called Auchter Perry-McCall. Auchter officials intend to finish ongoing projects independently of Auchter Perry-McCall.

Arch Insurance spokesman Mario Chiappetti said he could neither confirm nor deny the company's involvement.

American Land Ventures chose Skanska based on the suggestion of the surety company.

QuoteThe Auchter Co. was also the contractor on American Land Ventures' The Strand, a 28-story tower that recently switched from condos to rental units. That 295-unit building alongside The Peninsula was completed in March. Tracy declined to comment on the construction cost.

American Land Ventures has not decided what to do with a third parcel originally intended to be a third residential tower next to The Peninsula and The Strand.

http://jacksonville.bizjournals.com/jacksonville/stories/2007/06/25/story1.html?b=1182744000
"A man who views the world the same at 50 as he did at 20 has wasted 30 years of his life." - Muhammad Ali

Seraphs

#1
June 22, 2007, 10:15:36 PM
Is this something that happens often?  It seems like it could be a legal nightmare in the event there are structural things that go wrong.
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