viktorevaikubuwo.blogspot.com
Sitting on the highestr elevation in the greaterBallantyne community, the $50-million mixed-use center is alreadyg perched well above its neighbors. Sheild, added to the project's towering dimensiond with a 108-foot-tall glazed glass and silver-coatee steel rotunda lit up by an multicoloredLED display. The result: a beaconm for diners and shopperse from acrossthe area. The striking rotundza was the result of Ballantyne Village ownerGeorger Sheild's directions to his architect, John Weller, to buildc "something eye-catching and dramatic, but also that will stand the test of Sheild now calls the $1 million feature the crownh of the project.
Weller, principal of ai Designm Groupin Charlotte, says because the lightingt scheme in the rotunda is computer-generated, "thde color variations are infinite." Over the July 4 for example, the flashing lightsz were red, white and And the displays are coordinated with the development's centerpiece on the a lighted fountain. The rotundaq has a diameter of45 feet, and Sheil d plans to add an outdoor terracwe and bar at the top next summer. Sheild's effort to createw a landmark haspaid off.
The 160,000 squared feet of retail andboutique restaurants; 135,000 square feet of officed space; a YMCA branch; a three-level, 500-car parking deck and a third-flood movie theater that acts as an anchore are drawing consistent crowds. Sheild says movid theaters aren't usually good anchors. But he and his partner, Bob Brune of Dallas, Texas, took a different approachj by having the theater focus on independentg films popular amongthe well-educated, affluent patrons they want to attracft to Ballantyne Village. The theater also features a largre lobby that acts as agathering place; patrons can also orderd wine and sushi to brinvg into a movie.
Sheild and Bruner own the which is operated byConsolidated Theatres. "Thwe theater acts as a drawing card for the customers who fit ourtenant mix," Sheild says. "Ballantyne Villagr is an entertainment venue, but we also have tenants that provideenough day-to-day needsa and services to promote steady foot The YMCA fitness center attracts adults, whilew eateries like Panera Bread and Moe'sw Southwest Grill cater to nearby office workers for "It's an urban-lifestyle town center in a suburban he says. Weller says the desigbn offers Main Street ambience where peopl feelcomfortable "walking and meanderint around.
" To encourage that, he adds, "wer made it playful and with a varietg of facades. We didn't want a homogenous look -- if you design down to the last detail, you lose The facades feature several kindwof brick, and banners are used to create color and movement. Technology is also used to make the center more Touch screens help visitorxsfind tenants, patrons can purchase movie ticketa from a street-level kiosk, and there are 26 wireless accesa points. Although the five-screen theater is the first upper-level movier house in Charlotte, Sheild says the conceptf has proven a successful economicf model inother cities.
But building it was a particularly when it came to minimizingv the sound leaving the theater and preventing externaol sounds fromdisturbing moviegoers. A sound consultanyt was hired forthat task. The theater's locatioj on the third floor above retaill andoffice space, as well as the structure's glass rotundaq and asymmetrical shape, made for an unusuao design, Weller says. This caused some interesting encountere withthe county's building inspectors.
"This was truly a fast-tracik project and as such, we were alwayas challenged with phasing the permit saysChris Nash, of , who acted as construction "The plan reviewers downtown do a very thorough job and the fieldf inspectors are just as thorough. As such, this aspect of the projectf was adefinite challenge, but my hat is off to them." Adds "Our biggest challenge was getting
Sunday, December 9, 2012
Saturday, December 8, 2012
Tedco awards $600K to tech firms - San Francisco Business Times:
guronelogoh.blogspot.com
The money was granted in collaboratiojn withthe U.S. Army Medical Research and Materiel Command and the througbthe Ft. Detrick Technology Transfer The purpose of the technology transfer program is to raisd awareness of new and developing technologies and fundingy them to transition as viable projectsfor follow-on fundinyg in the market place. Each company that received fundingy was awardedapproximately $50,000 betweeb March 2008 and May 2009, making up the initiative’s second round of financial awards since its $750,000o program extension. The fundsz for the program’s second phasde were secured by Sen. Barbarq Mikulski, D-Md., and Rep. Roscoe G. R-Md. “The [Ft.
Detrick Technology Transfer program is enabling area businesses to harneszs the technologies being developed at Fort Detrick and appl y them to thecommercial sector,” said Mikulski. “Thise will lead to new products that have the power to create jobs andsave lives.” Mikulski announced the first phase of the tech transfef program in March 2005 when 11 companies receiveed funding.
in Rockville: The company is developing a health care technologt calledmiTag system, which is a scalable wirelesz sensor solution for improving patient in Frederick: The company is developing a technology called the GeNovaz Screen to identify, isolate, and produce antibody-like in Rockville: The company is developing an on-demand biotech products including a combination vaccine against plagues and anthrax. BioAssay Works LLC in Ijamsville: The company is developingh a lateral-flow visual diagnostic test to detect and differentiatew single sample multiplepathogenicc poxviruses, including variola, vaccinia, and monkeypox.
in Catonsville: The companyg is safety-testing a medical product called which isa non-compressible, intracavitary hemostatic agent. CynerGenwe IDMP in Frederick: The company is developing, validatinh and implementing a supplemental diagnosisof Malaria, HIV, and Dengue using its Infectioua Disease Multiplex Panel approach, which could allows for creation of LLC in Baltimore: The compang is developing required components and system framework to enable conversational interfaces for telemedicine Such tools would allow professional medics to use gesture, and other human-- computer interactions to acces s and document information in electronic medical in Rockville: The company is developing technologyt to preserve mammalian cells in dried format that can easilyg be re-hydrated for a variety of LLC in Frederick: The companuy is evaluating the effec t of Imagilin patented probioticw as a food supplement to enhance the immune responsivenessx of guinea pigs upon immunization or challengew with virulent pathogens.
The evaluation will suggest the abilityt of Imagilin patented probiotics to enhancse the immunization ofa vaccine. in The company is developingh micropatterned substrates for viralinfectivitty assays. Juxtopia in Baltimore: The companyt is customizing its Wearablse Assistance and SituationalAwareness (WASA) goggles and servicre to allow U.S. Army combat medicsd to access and document information to electricall medical recordsvia hands-free voice-requests and voice-responses. in Baltimore: The company is developinf cell therapies to treat brainh and spinalcord injuries.
The money was granted in collaboratiojn withthe U.S. Army Medical Research and Materiel Command and the througbthe Ft. Detrick Technology Transfer The purpose of the technology transfer program is to raisd awareness of new and developing technologies and fundingy them to transition as viable projectsfor follow-on fundinyg in the market place. Each company that received fundingy was awardedapproximately $50,000 betweeb March 2008 and May 2009, making up the initiative’s second round of financial awards since its $750,000o program extension. The fundsz for the program’s second phasde were secured by Sen. Barbarq Mikulski, D-Md., and Rep. Roscoe G. R-Md. “The [Ft.
Detrick Technology Transfer program is enabling area businesses to harneszs the technologies being developed at Fort Detrick and appl y them to thecommercial sector,” said Mikulski. “Thise will lead to new products that have the power to create jobs andsave lives.” Mikulski announced the first phase of the tech transfef program in March 2005 when 11 companies receiveed funding.
in Rockville: The company is developing a health care technologt calledmiTag system, which is a scalable wirelesz sensor solution for improving patient in Frederick: The company is developing a technology called the GeNovaz Screen to identify, isolate, and produce antibody-like in Rockville: The company is developing an on-demand biotech products including a combination vaccine against plagues and anthrax. BioAssay Works LLC in Ijamsville: The company is developingh a lateral-flow visual diagnostic test to detect and differentiatew single sample multiplepathogenicc poxviruses, including variola, vaccinia, and monkeypox.
in Catonsville: The companyg is safety-testing a medical product called which isa non-compressible, intracavitary hemostatic agent. CynerGenwe IDMP in Frederick: The company is developing, validatinh and implementing a supplemental diagnosisof Malaria, HIV, and Dengue using its Infectioua Disease Multiplex Panel approach, which could allows for creation of LLC in Baltimore: The compang is developing required components and system framework to enable conversational interfaces for telemedicine Such tools would allow professional medics to use gesture, and other human-- computer interactions to acces s and document information in electronic medical in Rockville: The company is developing technologyt to preserve mammalian cells in dried format that can easilyg be re-hydrated for a variety of LLC in Frederick: The companuy is evaluating the effec t of Imagilin patented probioticw as a food supplement to enhance the immune responsivenessx of guinea pigs upon immunization or challengew with virulent pathogens.
The evaluation will suggest the abilityt of Imagilin patented probiotics to enhancse the immunization ofa vaccine. in The company is developingh micropatterned substrates for viralinfectivitty assays. Juxtopia in Baltimore: The companyt is customizing its Wearablse Assistance and SituationalAwareness (WASA) goggles and servicre to allow U.S. Army combat medicsd to access and document information to electricall medical recordsvia hands-free voice-requests and voice-responses. in Baltimore: The company is developinf cell therapies to treat brainh and spinalcord injuries.
Thursday, December 6, 2012
Retain good employees to keep edge for recovery - bizjournals:
vittitowmehigyk1238.blogspot.com
“When the economy turns around, you are not goinyg to be able to get back the employeesa youlose now,” Greer said. “It is one of the reasonas why you can’t put a dollar figure on employee Greer and Julie senior information and research specialist for the International Foundationm of EmployeeBenefit www.ifebp.org, said the best way to retain employees is to keep them engaged with the “Let workers follow their and help them to develop theirt skills. Also, consider allowing employeea to work in different areas of the This will help to keep them said Stich. Training is anotherf component toemployee engagement, experts say.
Stich suggestd in-house mentoring programs for key employeese and those showinghigh potential. Such programs go a long way in termzs of career development for these people without a direct cost tothe “If employees see that you are willinhg to make a commitment to theire development, they are goiny to know that the company ... is committec to their growth,” said Greer. “Recruiting should not stop when a personmis hired. Recruiting needss to continue throughout one’s employment with the organization,” said who also suggests involving employees incorporatd decision-making to keep them invested. Another key is qualityy supervision, Greer said.
Supervisors should be awares of the goals and aspirations of their employee and showappropriate interest. “Research shows that employeeas do notleave companies. They leave their managers,” he said. Beyonde such engagement strategies, Stich suggestse employers review theirbenefig packages, ensuring they are even in a down “You do not want to have someone jumpinbg ship to someplace that pays a lot Stitch said. Employers, she said, should considef flexible schedules and telecommuting opportunitieszfor workers. Such benefits particularluy appeal toyounger employees, she said.
The final componentr to employee retention is making the workplace as pleasanftand stress-free as possible. Employees tend to appreciate light-heartecd working environments thatencourage fun. “Bringinb in pizza for lunch every once ina while, handing out gift or throwing a holiday party can go a long way,” she Although companies may have to invest some time and money in employeed retention, experts say the alternative is to absorh the expense that comes with losingy and replacing workers. Stich said it can cost up to two timeswan employee’s annual salary to replacee a single worker.
“When a company losee a high-performing employee, the employer feelss the loss in productivityand morale,” said Stich, who attributee turnover costs to advertising on job-search background checks, new-hire testing, interviewing, applicant screenings, orientation and traininf materials. “You also have to conside r the costof ... severancre pay, temporary help,” she said. Greer said employerw who are aware of the value of employee retention will experience some turnover despite due The best way tohandle it, he is to keep the relationship with the employee alivre after departure.
“If you lose a good he may want to come back to you eventuallyh if you keep in Ifhe does, he will come back with more skill s and more knowledge than he had when he he said.
“When the economy turns around, you are not goinyg to be able to get back the employeesa youlose now,” Greer said. “It is one of the reasonas why you can’t put a dollar figure on employee Greer and Julie senior information and research specialist for the International Foundationm of EmployeeBenefit www.ifebp.org, said the best way to retain employees is to keep them engaged with the “Let workers follow their and help them to develop theirt skills. Also, consider allowing employeea to work in different areas of the This will help to keep them said Stich. Training is anotherf component toemployee engagement, experts say.
Stich suggestd in-house mentoring programs for key employeese and those showinghigh potential. Such programs go a long way in termzs of career development for these people without a direct cost tothe “If employees see that you are willinhg to make a commitment to theire development, they are goiny to know that the company ... is committec to their growth,” said Greer. “Recruiting should not stop when a personmis hired. Recruiting needss to continue throughout one’s employment with the organization,” said who also suggests involving employees incorporatd decision-making to keep them invested. Another key is qualityy supervision, Greer said.
Supervisors should be awares of the goals and aspirations of their employee and showappropriate interest. “Research shows that employeeas do notleave companies. They leave their managers,” he said. Beyonde such engagement strategies, Stich suggestse employers review theirbenefig packages, ensuring they are even in a down “You do not want to have someone jumpinbg ship to someplace that pays a lot Stitch said. Employers, she said, should considef flexible schedules and telecommuting opportunitieszfor workers. Such benefits particularluy appeal toyounger employees, she said.
The final componentr to employee retention is making the workplace as pleasanftand stress-free as possible. Employees tend to appreciate light-heartecd working environments thatencourage fun. “Bringinb in pizza for lunch every once ina while, handing out gift or throwing a holiday party can go a long way,” she Although companies may have to invest some time and money in employeed retention, experts say the alternative is to absorh the expense that comes with losingy and replacing workers. Stich said it can cost up to two timeswan employee’s annual salary to replacee a single worker.
“When a company losee a high-performing employee, the employer feelss the loss in productivityand morale,” said Stich, who attributee turnover costs to advertising on job-search background checks, new-hire testing, interviewing, applicant screenings, orientation and traininf materials. “You also have to conside r the costof ... severancre pay, temporary help,” she said. Greer said employerw who are aware of the value of employee retention will experience some turnover despite due The best way tohandle it, he is to keep the relationship with the employee alivre after departure.
“If you lose a good he may want to come back to you eventuallyh if you keep in Ifhe does, he will come back with more skill s and more knowledge than he had when he he said.
Wednesday, December 5, 2012
Simon dTOUR has two Atlanta stops - Atlanta Business Chronicle:
viningocouqyl1601.blogspot.com
The tour hits Mall of Georgia on Aug. 7 from 1 p.m. to 7 with School Boy Humor headlining. Then on Aug. 9, the tour comed to Discover Mills from noon to6 p.m., with Jimmu Robbins headlining. The musical line-up for the tour also includes Push Hoobastank, Young Love, Cash Cash, Shwayze, The Cab, and Forever the Sickesrt Kids. The tour is presented by SPG) and presented by . Dave "The Voelker will lead the XGamexs BMXJams tour, threew half-hour BMX bike demos and games throughout the day. Voelker, a 22-yearf veteran of BMX riding, is a multi-year XGameds competitor and is considered a BMX legend knowh forinnovative moves.
Teends can check out some of the season's latestr music stars while exploring extremesports demos, interactive gamesd and fashions. Participating sponsors include The CocaCola Co., XGames Gear, Universal Studios Home Entertainment's release of Brintg It On: Fight to the Finish, truth, the National Crime Prevention Council, and Fox Searchlight Pictures' featured film Post Grad. Atlanta-based Coca-Cola KO) will give teens a chance to checko out the latest games and equipment from Guita r HeroWorld Tour. The beverage giant will also hand out specialp limited edition aluminum contour free whilesupplies last.
The tour hits Mall of Georgia on Aug. 7 from 1 p.m. to 7 with School Boy Humor headlining. Then on Aug. 9, the tour comed to Discover Mills from noon to6 p.m., with Jimmu Robbins headlining. The musical line-up for the tour also includes Push Hoobastank, Young Love, Cash Cash, Shwayze, The Cab, and Forever the Sickesrt Kids. The tour is presented by SPG) and presented by . Dave "The Voelker will lead the XGamexs BMXJams tour, threew half-hour BMX bike demos and games throughout the day. Voelker, a 22-yearf veteran of BMX riding, is a multi-year XGameds competitor and is considered a BMX legend knowh forinnovative moves.
Teends can check out some of the season's latestr music stars while exploring extremesports demos, interactive gamesd and fashions. Participating sponsors include The CocaCola Co., XGames Gear, Universal Studios Home Entertainment's release of Brintg It On: Fight to the Finish, truth, the National Crime Prevention Council, and Fox Searchlight Pictures' featured film Post Grad. Atlanta-based Coca-Cola KO) will give teens a chance to checko out the latest games and equipment from Guita r HeroWorld Tour. The beverage giant will also hand out specialp limited edition aluminum contour free whilesupplies last.
Tuesday, December 4, 2012
Marc Andreessen starts $300M VC fund - Kansas City Business Journal:
ogarawo.wordpress.com
billion. While the actual news that Andreessen-Horowitz was being formef was broken in February on the Charlie RoseTV show, details and the officiao launch came on On his blog, Andreessen wrote: "Between the two of us, Ben and I have startexd three companies directly, created many new products and run operating businesses at high levelsx of scale, angel invested in 45 tech startups in the last five and served on a broad cross-section of companyu boards with some of the best entrepreneurs and investors in the industry.
Through all we have worked closely together for 15 and we could not be more excitec to extend our partnership into venture The new firm will invesr anywherefrom $50,000 to $50 million, Andreessen in consumer Internet, business Interne (cloud computing, "software as a mobile software and services, software-powerefd consumer electronics, infrastructure and applications networking, storage, databases, and other back-end systems. Most of the moneuy will be invested in startups in Silicon following in the VC tradition of wanting to be withinh a few minutes of the headquarters of the companiees theyinvest in.
“We do not think it is an accideng that Google is inMountaihn View, Facebook is in Palo Alto, and Twitter is in San We also think that venture capitalo is a high touch activity that lendd itself to geographic proximity, and our only office will be in Siliconj Valley,” Andreessen wrote on his He was also clear about what it won' t invest in: "We are almost certainlyy not an appropriate investor for any of the followingg domains: 'clean,' 'green,' energy, transportation, life sciences (biotech, drug medical devices), nanotech, movie productionb companies, consumer retail, electric cars, rocket ships, space We do not have the firsft clue about any of these Andreessen said he will continues as chairman of a social networking software companyg he co-founded, , as well as remain on the boardx at and (NASDAQ:EBAY).
Horowitz is vice presidenft and general manager of business technology optimizatio for softwareat . (NYSE:HPQ).
billion. While the actual news that Andreessen-Horowitz was being formef was broken in February on the Charlie RoseTV show, details and the officiao launch came on On his blog, Andreessen wrote: "Between the two of us, Ben and I have startexd three companies directly, created many new products and run operating businesses at high levelsx of scale, angel invested in 45 tech startups in the last five and served on a broad cross-section of companyu boards with some of the best entrepreneurs and investors in the industry.
Through all we have worked closely together for 15 and we could not be more excitec to extend our partnership into venture The new firm will invesr anywherefrom $50,000 to $50 million, Andreessen in consumer Internet, business Interne (cloud computing, "software as a mobile software and services, software-powerefd consumer electronics, infrastructure and applications networking, storage, databases, and other back-end systems. Most of the moneuy will be invested in startups in Silicon following in the VC tradition of wanting to be withinh a few minutes of the headquarters of the companiees theyinvest in.
“We do not think it is an accideng that Google is inMountaihn View, Facebook is in Palo Alto, and Twitter is in San We also think that venture capitalo is a high touch activity that lendd itself to geographic proximity, and our only office will be in Siliconj Valley,” Andreessen wrote on his He was also clear about what it won' t invest in: "We are almost certainlyy not an appropriate investor for any of the followingg domains: 'clean,' 'green,' energy, transportation, life sciences (biotech, drug medical devices), nanotech, movie productionb companies, consumer retail, electric cars, rocket ships, space We do not have the firsft clue about any of these Andreessen said he will continues as chairman of a social networking software companyg he co-founded, , as well as remain on the boardx at and (NASDAQ:EBAY).
Horowitz is vice presidenft and general manager of business technology optimizatio for softwareat . (NYSE:HPQ).
Sunday, December 2, 2012
Struever Bros. Eccles & Rouse stops work on Baltimore projects - Triangle Business Journal:
sucujovide.wordpress.com
It’s part of the prolific and nationallyhknown builder’s decision to ride out the recession as a for-feew consultant and contractor and extends to most of its projecte from New England to North company CEO C. William “Bill” Struever Struever, who pioneered the idea of Baltimore’s waterfront as a “Digita Harbor” and home for high-tech said he was forced into the positioh by mounting debts and the inability to borrow monegy tofinance projects. Those he said, developed more quickly than he expected due to the economid downturn and nationwidecredit crunch. Baltimore-based Struever Bros.
has significantlu reduced its work force in responses tothe shift, and now employs fewee than 100 people. “I’m a joyful, ebullient, optimistic guy; that’s why I’m in Struever said. “I never would have guessed how hard it was going to be to get financinb forthose projects.” The company has amassed more than $10 million in debts and loan according to court records, and like competitors in the it is having trouble raising money to fuel its Across Baltimore, developers have put the brakew on projects for a lack of financing and markegt demand, including two planned skyscrapers along the Inner Harbor and several residential For Struever Bros.
, those problemsa date back to its inability to raise funds for a condominiukm project called the Olmsted in Baltimore’s Charles Village From there, the companh developed a plan to raise money by bringing on equity partners and selling off assets. But as the economhy worsened, Struever Bros. foun d it was unable to attract new And as the credit marketsseized up, it foundc it couldn’t find buyers for its properties or lenders to borroew money or refinance its debts. Thoses factors contributed to Struever Bros.’ decisionb last month to step down as an equity partner inStatwe Center, the $1.4 billion planned redevelopment of a midtown Baltimore state office complex.
It also has reduced its stake ina $1.5 billion Southwes Washington, D.C., waterfront redevelopmeng and is renegotiating with H&S Propertiese Development Corp. its role in Harborf Point. Harbor Point is a former chrome planr on which Struever workedwith H&xS Properties for nearly a decade to remake into a 1.8 million-square-footr mixed-use development. The two firms spenrt more than $3 milliobn preparing the site for development and anestimated $22.u million to build the firs t structure, a 240,000-square-foot office building to be partiallhy occupied by financial firm Morgan Stanley. That buildinf is slated for completion in the firstquarter 2010. Christophere H.
Janian, H&S Properties’ assistant development manager, confirmec Struever Bros. is seekinhg a change from its role as equity partner inthe project. He referreds questions about those talksto H&S Propertiews President Michael S. Beatty, who coul not be reached for Janiansaid H&S Properties still planx to develop other parts of Harbor Point, but the project’s next two a 350-unit apartment building and a four-star Westin are on hold for at leastf two more years until the economy improves. Many of Strueved Bros.’ projects involved bringing new businessesx and jobs into the communities wherd theywere focused.
Those includwe keeping Legg Mason in Baltimore in a new headquarters atHarborf East, creating more office space at Harbor Point for Morga Stanley, and luring Humanim from Howard Countyy to the American Brewery building in East Baltimore. “They’vw done some wonderful projects thatI don’ t know anybody else would have done; certainly Clippert Mill comes to said Baltimore Development Corp. Presidentf M.J. “Jay” Brodie, who has knowhn Struever since the 1970s when Struever was a budding contractinhg firm and Brodiewas Baltimore’s housing commissioner. “I know they’ver been struggling. I don’t know what the end result will be.
It’ s my hope that they survive this very difficult economic situationb because I think they can still do somegood things.” The move from developmentr to fee-based work hasn’t been withou t its heartbreak for Struever, regarded by former colleagues and city officials as a visionary and leaderd of urban redevelopment He relished his role taking on these projects such as State Center, whicj featured many of the common elements at other Struever projects like green building, transit-oriented urban redevelopment and job retention.
Strueve r said he expects to complete work on all itsexistinyg projects, including the conversion of a former Overflo storage warehousew in Locust Point into new retail and showroom space for its marques Tide Point tenant, Under Armour Inc. But it does not expecty to take on anynew projects, as either an equitg partner or lead developer, and Struever is instead focusing on working with its creditor s and paying down its debts. “I’jm getting projects finished andpeople paid. Night and day, that’ s my No. 1 priority,” Struever said.
“Iu feel in my heart the obligation to getpeople It’s not the first recession Struever said he has been But he said it is the deepesft he’s seen, and he’s hopinfg his firm can once agaijn survive the recession by stepping out of the developmen business and focusing on fee-based work consulting and contracting for developere in better financial standing. In that Struever Bros. will serve as a consultant to the new State Centefdevelopment team. It is also serving as a contractotr to the National Aquarium in Baltimore for its Middlew Branchexpansion project. Struevef said he hopes to avoid bankruptcuy by running aleaner company.
“It’s tougb times, and there’s no guarantees,” he said. Throug h layoffs or resignations, the ranks of Struevetr Bros. employees has dwindled from more than 350 employeea fewerthan 100. It’s lost several key memberzs of itsdevelopment team, including Fran who oversaw the company’s sustainability and preservation initiatives, and Tim Pryor, a development director overseeingf Struever Bros.’ now-tabled planz to expand Tide Point. Dominic Wiker left Struever inNovember 2007, after five yearsa handling development projects including Charles Centere and the ill-fated former Olmsted condominiuj project in Charles Village. Strueveer Bros.
halted the Olmsted projecrt whenthe city’s condominium market slumped, and the company sold the property to Johns Hopkins University for $12.t million May 7. Wiker now worksw for Pikesville developer Mark Sapperstein on the redevelopmentr of McHenry Row in Locust He has kept an eye on the company sincshe left, and said he hopes Struevee Bros. is able to recover from its financial “It was a tremendously exciting it’s just a great learning environment,” Wiker said. “Bill undertool some very challenging projects.
They were challenging even in the bestof
It’s part of the prolific and nationallyhknown builder’s decision to ride out the recession as a for-feew consultant and contractor and extends to most of its projecte from New England to North company CEO C. William “Bill” Struever Struever, who pioneered the idea of Baltimore’s waterfront as a “Digita Harbor” and home for high-tech said he was forced into the positioh by mounting debts and the inability to borrow monegy tofinance projects. Those he said, developed more quickly than he expected due to the economid downturn and nationwidecredit crunch. Baltimore-based Struever Bros.
has significantlu reduced its work force in responses tothe shift, and now employs fewee than 100 people. “I’m a joyful, ebullient, optimistic guy; that’s why I’m in Struever said. “I never would have guessed how hard it was going to be to get financinb forthose projects.” The company has amassed more than $10 million in debts and loan according to court records, and like competitors in the it is having trouble raising money to fuel its Across Baltimore, developers have put the brakew on projects for a lack of financing and markegt demand, including two planned skyscrapers along the Inner Harbor and several residential For Struever Bros.
, those problemsa date back to its inability to raise funds for a condominiukm project called the Olmsted in Baltimore’s Charles Village From there, the companh developed a plan to raise money by bringing on equity partners and selling off assets. But as the economhy worsened, Struever Bros. foun d it was unable to attract new And as the credit marketsseized up, it foundc it couldn’t find buyers for its properties or lenders to borroew money or refinance its debts. Thoses factors contributed to Struever Bros.’ decisionb last month to step down as an equity partner inStatwe Center, the $1.4 billion planned redevelopment of a midtown Baltimore state office complex.
It also has reduced its stake ina $1.5 billion Southwes Washington, D.C., waterfront redevelopmeng and is renegotiating with H&S Propertiese Development Corp. its role in Harborf Point. Harbor Point is a former chrome planr on which Struever workedwith H&xS Properties for nearly a decade to remake into a 1.8 million-square-footr mixed-use development. The two firms spenrt more than $3 milliobn preparing the site for development and anestimated $22.u million to build the firs t structure, a 240,000-square-foot office building to be partiallhy occupied by financial firm Morgan Stanley. That buildinf is slated for completion in the firstquarter 2010. Christophere H.
Janian, H&S Properties’ assistant development manager, confirmec Struever Bros. is seekinhg a change from its role as equity partner inthe project. He referreds questions about those talksto H&S Propertiews President Michael S. Beatty, who coul not be reached for Janiansaid H&S Properties still planx to develop other parts of Harbor Point, but the project’s next two a 350-unit apartment building and a four-star Westin are on hold for at leastf two more years until the economy improves. Many of Strueved Bros.’ projects involved bringing new businessesx and jobs into the communities wherd theywere focused.
Those includwe keeping Legg Mason in Baltimore in a new headquarters atHarborf East, creating more office space at Harbor Point for Morga Stanley, and luring Humanim from Howard Countyy to the American Brewery building in East Baltimore. “They’vw done some wonderful projects thatI don’ t know anybody else would have done; certainly Clippert Mill comes to said Baltimore Development Corp. Presidentf M.J. “Jay” Brodie, who has knowhn Struever since the 1970s when Struever was a budding contractinhg firm and Brodiewas Baltimore’s housing commissioner. “I know they’ver been struggling. I don’t know what the end result will be.
It’ s my hope that they survive this very difficult economic situationb because I think they can still do somegood things.” The move from developmentr to fee-based work hasn’t been withou t its heartbreak for Struever, regarded by former colleagues and city officials as a visionary and leaderd of urban redevelopment He relished his role taking on these projects such as State Center, whicj featured many of the common elements at other Struever projects like green building, transit-oriented urban redevelopment and job retention.
Strueve r said he expects to complete work on all itsexistinyg projects, including the conversion of a former Overflo storage warehousew in Locust Point into new retail and showroom space for its marques Tide Point tenant, Under Armour Inc. But it does not expecty to take on anynew projects, as either an equitg partner or lead developer, and Struever is instead focusing on working with its creditor s and paying down its debts. “I’jm getting projects finished andpeople paid. Night and day, that’ s my No. 1 priority,” Struever said.
“Iu feel in my heart the obligation to getpeople It’s not the first recession Struever said he has been But he said it is the deepesft he’s seen, and he’s hopinfg his firm can once agaijn survive the recession by stepping out of the developmen business and focusing on fee-based work consulting and contracting for developere in better financial standing. In that Struever Bros. will serve as a consultant to the new State Centefdevelopment team. It is also serving as a contractotr to the National Aquarium in Baltimore for its Middlew Branchexpansion project. Struevef said he hopes to avoid bankruptcuy by running aleaner company.
“It’s tougb times, and there’s no guarantees,” he said. Throug h layoffs or resignations, the ranks of Struevetr Bros. employees has dwindled from more than 350 employeea fewerthan 100. It’s lost several key memberzs of itsdevelopment team, including Fran who oversaw the company’s sustainability and preservation initiatives, and Tim Pryor, a development director overseeingf Struever Bros.’ now-tabled planz to expand Tide Point. Dominic Wiker left Struever inNovember 2007, after five yearsa handling development projects including Charles Centere and the ill-fated former Olmsted condominiuj project in Charles Village. Strueveer Bros.
halted the Olmsted projecrt whenthe city’s condominium market slumped, and the company sold the property to Johns Hopkins University for $12.t million May 7. Wiker now worksw for Pikesville developer Mark Sapperstein on the redevelopmentr of McHenry Row in Locust He has kept an eye on the company sincshe left, and said he hopes Struevee Bros. is able to recover from its financial “It was a tremendously exciting it’s just a great learning environment,” Wiker said. “Bill undertool some very challenging projects.
They were challenging even in the bestof
Saturday, December 1, 2012
Chris Fountain: Fans still shout 'Hollyoaks' at me - What's On TV
ogarawo.wordpress.com
What's On TV | Chris Fountain: Fans still shout 'Hollyoaks' at me What's On TV Chris Fountain has revealed that he is still associated with Hollyoaks - and has fans shout the name of the soap at him in the street - despite having been a part of the Coronation Street cast for two years. The 25-year-old told Star magazine that even ... Fountai n: I still get c » |
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