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Monday, March 8, 2010

Balfour Beatty to develop, manage FAU housing - South Florida Business Journal:

Don't you wish you had thought of this? I was having a conversation recently where they were differentiating the difference between a contractor and a builder. Essentially, a contractor contracts and a builder builds. I'm not sure what to call what Balfour Beatty is doing, but they're creating their own financing deals to create construction projects. What a novel idea and of course, since they're using BIM, they're sure to make a nice profit on the project with a faster timeline and no change orders.

I see this as quite the "developing" trend in the industry. BIM, banking and big bucks. I sure hope the architect is using Revit.

http://www.bizjournals.com/southflorida/stories/2010/03/01/daily64.html

Balfour Beatty Capital Group said Friday it has entered into a public-private partnership with Florida Atlantic University in Boca Raton to develop and manage on-campus housing.

Balfour Beatty Campus Solutions and Capstone Development Corp., through a joint venture, will develop and manage the 1,216-bed facility. Balfour Beatty Capital also has invested in the project through the purchase of $3.4 million of tax-exempt bonds.

Balfour Beatty Construction will build the $123 million facility, which is being designed by Pierce Goodwin Alexander & Linville. Students are expected to be able to move in by the beginning of the 2011 academic year.

The new community, which is designed to achieve silver Leadership in Energy and Environmental Design certification from the U.S. Green Building Council, will be the first phase of Innovation Village, a recreation, residential and retail project. The joint venture also will assume management responsibilities for FAU’s existing 2,446 on-campus beds.

Innovation Village housing, which will house upper division and graduate students, is to include a unit mix of two-, three- and four-bedroom/two-bathroom apartments. There also will be multiple one-bedroom/one-bathroom apartments for resident assistants.

The development will include a seven-story building and an eight-story building, together totaling 489,000 square feet.


Balfour Beatty to develop, manage FAU housing - South Florida Business Journal:

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