IronPlanet Blog

Construction crews in the Fort Worth, Texas, area will likely be busy over the next few months, as a massive project has kicked off to redevelop a downtown area.

Sundance Square is considered to be the heart of the city's entertainment district, which includes nearly 35 blocks of shops and restaurants. However, the square itself is outdated and often ignored. Developers are hoping to change that, reports the Fort Worth Star-Telegram.

"We are in the midst of what has been for the past three decades the most actively programmed public space in all of Fort Worth," Ed Bass, principal partner of Sundance Square, told the news source. "This is our plaza at Sundance Square. Through these decades, however, there's been one overwhelmingly distinctive thing about this plaza. It's always had really lousy landscaping."

The design for the new plaza has yet to be revealed, but is reportedly based off Pioneer Square in Portland, Ore. The developers also have plans for three new office and commercial buildings surrounding the plaza. In total, the three new buildings will add 221,000 square feet of office space in the next two years, and about 41,500 square feet for shops and restaurants.

Chief among these is The Commerce Building, which will have the most space on the ground floor for retail outlets. The Westbrook, named after the old Westbrook Hotel that used to be on the property, is slightly taller than The Commerce Building but with less space on the bottom. Finally, The Cassidy will feature luxury penthouse apartments along with shops and restaurants, and the name ties into the "Sundance" moniker for the plaza, calling to mind Butch Cassidy and The Sundance Kid.

Developers believe the new project will add approximately 200 construction jobs to the city as the buildings are erected and retailers begin moving in.

Construction crews hoping to work on these types of projects will need the tools to get the job done. The online auction site IronPlanet offers a wide array of cranes, aerial work platforms, bulldozers and much more, often at a more affordable price than buying new.

After years of back and forth between the team and state legislators, the Minnesota Vikings have achieved approval for a new stadium to be built in the city of Minneapolis.

The Vikings’ old stadium, the Hubert H. Humphrey Metrodome, was built in 1982 and famously saw its inflatable roof collapse last year during a snowstorm. However, the talk of a new stadium has gone on for nearly a decade, even before current owner Zygi Wilf took over the team. Now, the stadium has been approved by the state legislature, 71 to 60.

NFL stadiums are a hot topic, as the league has exploded in popularity and many teams with unattractive stadiums look to move to new ground. A stadium is directly tied to the value of the team, as it affects how many tickets can be sold and how much can be charged. Ultimately, however, all teams need to turn to the city and state for the funds to build such a project, which is where things can get tricky.

In almost every case of stadium negotiations, the owner will threaten to move the team to a different city in order to put the team in a better bargaining position – and sometimes they even make good on their threat. There was speculation that could happen with the Vikings, as many teams have been eyeing a move to Los Angeles. However, ESPN points out that Wilf never resorted to such tactics in negotiating the stadium deal. Even last month, when a plan for the stadium was rejected, Wilf remained firm in his decision to remain in Minnesota. When the owner took over the team in 2005, he reportedly said “If we’re stuck in the Metrodome, then we’ll be stuck in the Metrodome.”

The final proposal raised the Vikings’ contribution on the $975 million stadium by $50 million from a previous proposal. The split is somewhat more even now – the Vikings are providing $477 million, the state $348 million, and the city of Minneapolis $150 million.

The Viking’s 30-year lease on the Metrodome runs out at the end of next year, but the new stadium is not expected to be ready until 2016. Thus, most believe the Vikings will be forced to use the University of Minnesota’s football field for the seasons between the move out of the Metrodome and into the new stadium. Of course, the lease could also be extended for several years to ease the process as well – but that would likely require additional investment in a new roof for the aging complex.

The new stadium deal requires the Vikings to commit to Minneapolis for at least 30 more years, ending any speculation about relocation to another city. Details on the construction of the new stadium are scarce, but it will reportedly feature 65,000 seats and 150 luxury boxes, along with 7,500 club seats. The stadium will be located in the Downtown East neighborhood of Minneapolis, not far from the current Metrodome. The exterior of the stadium will reportedly feature a unique “Winter Garden” area where fans can tailgate and gather before and after the game. Downtown shopping, hotels and restaurants are also expected to be incorporated into the stadium area. The new stadium may also house a Major League Soccer team, as the city granted the organization behind the stadium exclusive rights to any MLS team in Minneapolis for five years after its opening.

The final hurdle for the stadium project is an OK from the Minneapolis city council, although a majority of the council have already revealed they will approve the new stadium.

Construction companies wanting to work on a major project like a stadium will need to be able to keep costs low while maintaining a wide variety of equipment. The online auction site IronPlanet offers cranes, bulldozer and much more at an affordable price. What’s more, the site’s IronClad Assurance policy allows buyers to view full inspection reports before they bid.

The International Code Council Foundation (ICFF) has declared May as Building Safety Month, and each week is focusing on a different aspect of construction. This week is Energy and Green Building Week, and the organization is throwing a spotlight on the rapidly growing area of environmentally friendly construction.

Major projects often have various standards they need to meet before approval, and green standards are becoming more common. Construction company owners will have to read up on the latest codes and regulations in order to ensure that the buildings they’re working on are up to environmentally-friendly standards.

The ICFF has recently released the new International Green Construction Code, a series of regulations for contractors to follow that will ensure a home is more energy efficient and less damaging to the environment. There are various levels of compliance within the code, so project developers can tailor their building to the level of “green” they want. The ICFF says the new regulations are the first to include green steps throughout every phase of the construction process. Green construction encompasses a wide variety of techniques and features, but some examples include solar panels, energy-efficient appliances, recycled materials and building upwards to reduce the amount of land used.

“With the new International Green Construction Code, we’re going to see more builders offering energy-efficient packages and upgrades,” said Mike Holmes, a contractor featured on HGTV. “We’re going to see more homeowners choosing renovations that will bring their homes to higher performance levels and make them more durable.”

Construction company McGraw-Hill sees a big future for green buildings in the housing industry. Currently, McGraw-Hill estimates that 17 percent of new home construction is “green.” However, the company expects that number to rise to 40 percent by 2016.

One issue for contractors is that staying green is often more expensive than a normal construction job. To keep costs down, contractors should consider turning to used construction equipment, which is often more affordable than buying new. The online auction site IronPlanet offers a wide variety of cranes, bulldozers and other equipment, all backed by IronClad Assurance inspection reports. This way, green builders can ensure that their equipment is up to standard while keeping their expenses down.

The U.S. Commerce Department recently released its report on construction spending for the month of March, and it appears that projects just barely picked up after two straight months of declines.

Construction spending figures in both the public and private sectors have been disappointing for many contractors this year, and things did not improve significantly in the month of March. Though analysts expected overall spending to jump by 0.5 percent, the end result was a meager 0.1 percent rise in spending, reports Bloomberg.

The figures were essentially saved by an increase in single-family home construction and commercial buildings in the private sector. During the month of March, it was mainly housing, hotels, office buildings and transportation hubs that kept construction companies afloat.

Government spending for construction projects has fallen off almost completely at the federal, state and local levels. Federal government spending was down 1.1 percent, reaching its lowest levels since February of 2007. State and local budgets set aside even less money for construction projects, dipping to their lowest point since November 2006. The decrease in spending wasn’t a sign of budget restriction, however. In fact, the U.S. government as a whole actually increased its spending in March by nearly 4 percent to $28.9 billion in total. It just wasn’t money going to contractors or construction companies.

Despite the significant decrease in government spending, there was still reason for optimism in the report. Overall, construction projects are still more readily available this year than they were last year, as the total spending for March construction was up 6 percent compared to the same month in 2011.

Construction companies looking for work will need to ensure that they can get the job done as efficiently as possible. One way to accomplish this is through used construction equipment bought through the online auction site IronPlanet. The site offers a wide range of equipment backed by IronClad Assurance inspection reports, which allow the buyer to know exactly what they’re getting.

The construction of a new football stadium at Tulane University in New Orleans could be facing a major hurdle thanks to new local legislation that would likely delay the groundbreaking of the facility, reports the New Orleans Times-Picayune.

Tulane University officials hoped to start construction on the new stadium by next January, but those plans were thrown into disarray by the news that local councilmember Susan Guidry proposed an Interim Zoning District (IZD). The measure would mean that Tulane and other colleges in the area would need to go through public hearings on any new buildings they construct during the period that the IZD is in effect.

Tulane’s stadium project is in compliance with current construction regulations, but would likely need to be changed to meet the local council’s new comprehensive zoning ordinance, which has not yet been enacted. The new “IZD” comes after pressure from locals to delay the project until public concerns are addressed.

Tulane has already responded to the news, saying that it would affect other universities in the area as well, including Xavier, Loyola and Delgado. Essentially, all construction on schools in the area would be stopped until the issues are ironed out.

“I think the bigger problem is that it is intended, I believe, to impose a public process on the stadium project, but it will have broader implications in that no project on any of our campuses can move forward until the City Planning Commission comes up with basically a recommendation on this interim zoning district,” Tulane executive vice president for university relations and development Yvette Jones told the news source. “So we are all prohibited from moving forward.”

Construction companies working on major projects like a stadium need to have the right equipment to get the job done. The online auction site IronPlanet offers a wide variety of cranes, bulldozers, aerial work platforms and much more, often at a more affordable price than buying new.

Construction of a $1 billion “hospital of the future” has been completed in northern San Diego County.

The new Palomar Medical Center is a high-tech facility that encompasses 11 floors and more than 740,000 square feet. Doctors and hospital staff will be moving into the new facility in the coming weeks. The massive facility was built to serve the largest public health district in the state of California. The new hospital will have the capacity for nearly 300 beds, though the design of the building allows that to be doubled if need be.

“The building is complete. We are able to start the next phase of transformation and that is moving from building to training our staff to deliver the highest quality of health care today,” said Michael Covert, president and CEO of Palomar Health. “There is much work ahead but I am proud of our efforts on behalf of the citizens of the communities we serve.”

More than eight years in the making, the project has come quite a long way. Nearly half of the hospital was financed by a 2004 bond issue that California voters overwhelmingly approved. At the time construction began, the hospital was the largest being constructed in California.

DPR Construction served as general contractors for the multi-year project. More than 6,000 construction jobs were created thanks to the hospital, which was a boost during economically tough times in the San Diego area. Construction workers used more than 25 million pounds of structural steel and laid more than 5 million feet of electrical cable for the new building.

Construction companies that want to work on major projects such as the Palomar Medical Center need the equipment to do so. The online auction site IronPlanet offers a wide variety of cranes, excavators and much more that can help contractors looking to expand their business.