Major construction headlines this week included a judge ordering construction work to stop on President Donald Trump’s $400 million ballroom addition — which has since received a key approval from a commission for the planning process, AP News reported — and work tipping off on a $900 million NBA arena in Oklahoma City.
But there were other stories worth knowing. For that, Construction Dive has launched its Friday Punch List, a series dedicated to sharing major building headlines. Read on for more construction news builders should know about.
Turner files $7M multifamily lien
New York City-based contracting giant Turner Construction put a nearly $7 million lien on the $180 million Fairmont Heritage Place The Cedars condominium project in Hendersonville, North Carolina, per local media reports. Turner crews stopped work on the multifamily project, and removed a crane from the site in mid March, according to the Hendersonville Lightning.
Developer Gregg Covin told the news outlet that the project is seeking new financing and that his firm hopes to bring Turner back once that’s in place. Covin described the lien as a legal formality. Turner Spokesperson Chris McFadden told Construction Dive the firm filed the lien to preserve its capability to collect on owed funds.
“Turner took this step to protect the rights of our company and the many trade partners who were involved in building this project,” McFadden said. Multifamily delinquencies have recently hit their highest levels since the global financial crisis, according to Multifamily Dive.
—Joe Bousquin
New York City skyscraper construction costs highest in the world
New York City remains the most expensive city for high-rise builds in the world, according to a recent research report from Turner & Townsend, the U.K.-based global real estate and infrastructure consultancy. Costs to deliver a new office building in New York City jumped 30% since 2020, largely due to high interest rates, rising materials costs and labor shortages, according to the report.
Turner & Townsend also found the shape of a skyscraper ranks as important as the height when determining the final cost of the project. For example, in London, there can be a 25% price difference between the most ambitious and most cost-efficient projects.
Those headwinds, along with lingering tariff pressures, are causing some developers to postpone new projects, particularly for new commercial builds, according to Turner & Townsend.
—Sebastian Obando
MARAD invests in shipyard projects
The Maritime Administration will invest $35 million into the revitalization of small shipyards, the DOT announced Tuesday. The investment will go toward three buckets, according to the release: upgrades to ship repair and construction facilities, new equipment purchases and maritime training programs.
Eligible shipyards must be in a single geographic location and may not have more than 1,200 production employees. Since 2008, MARAD's Small Shipyard Grant Program has awarded 382 grants for $320.5 million to equip American shipyards with the tools they need to build ships.
—Sebastian Obando
