Home Builder Developer - Interior Renovation and Design

AURORA, Colo. There are hospital doors at the half-built Veterans Affairs medical center outside Denver that were supposed to cost $100 each but ended up running $1,400. Theres a $100-million-and-still-rising price tag for an atrium and concourse with curving blond wood walls and towering glass windows. And entire rooms that had to be refashioned because requests for medical equipment changed at the last minute and in other cases the equipment didnt fit. No one had bothered to measure.

Not even completed yet, this $1.7billion facility is already among the most expensive hospitals in the world, and its just one of several VA hospital projects that are greatly over budget and behind schedule, according to the Government Accountability Office, the investigative arm of Congress.

Everything that could have gone wrong did. Its just an astounding price tag, said David Wise, who wrote in a GAO report about the Aurora project and VA construction problems in Orlando, Las Vegas and New Orleans.

The hospital construction woes are the latest in a long line of troubles that the Department of Veterans Affairs faces, from accusations of retaliation against whistleblowers to a backlog of compensation benefits to reports that wait-times for appointments in some parts of the country still havent improved. Wait-times range from 30 days to more than six months.

Last May, President Obama accepted the resignation of VA Secretary Eric K. Shinseki in the wake of a coverup of months-long hospital wait-times for veterans seeking treatment for everything from cancer to post-traumatic stress disorder. Obama and Robert McDonald, Shinsekis replacement, have vowed to restore trust in the agency.

At a hearing of the House Committee on Veterans Affairs on Wednesday, one of nine held on the Colorado hospital cost overruns and delays, members will discuss whether they should allocate another $830million to finish the project.

The GAO report, written by Wise in 2013, highlighted the failure of VA in Orlando to hire specialists in medical equipment construction who could have ensured that the rooms would accommodate MRI machines and other crucial machines. Multiple revisions to lists of medical equipment meant plans kept changing, to the tune of $14million, according to the GAO report.

Think of it like this youre building a kitchen, Wise said. But you dont check how big your stove or refrigerator is. You measure too late. And nothing fits, so you have to hack up a whole another piece of wall. Thats very expensive and time-consuming.

The combination of extravagant planning divorced from financial reality and bungled execution has bedeviled several recent VA projects, the GAO found.

In Orlando, VA shifted the location of the proposed hospital project three times, inflating the cost by more than $350million and delaying it at least three years.

Originally posted here:
VA building projects riddled with mistakes and cost overruns

Retail lending giant Synchrony Financial, a subsidiary of GE, leased more than 100,000 square feet of Maitland office space that had been built by Equity Partners in 2001 for Sprint.

Also known as Retail Finance International Holdings, the group took 102,000 square feet at 965 Keller Road in a long-term lease. Jeff Sweeney, of Cushman and Wakefield, represented Synchrony. Michael Fess and Faith Pamplin, of Equity Partners, represented the California-based landlord, Darleane 2 LLC.

The space suits Synchrony's call-center needs and also could allow the lender to establish a small branch bank there, Pamplin said.

Construction

Seminole County started work on a $27 million sports complex. The planned 102-acre complex off East Lake Mary Boulevard will include a baseball stadium and fields for soccer, lacrosse, football and softball. Construction is expected to be completed in 2016. Contractors include: HKS architects and engineers, CPH civil engineers, and Wharton Smith construction.

Longwood-based Comprehensive Energy Services Inc. is starting $638,000 of heating, ventilation, air conditioning, and plumbing work at 11 new Orlando-area projects.Included are: Florida Hospital East Orlando for Barton Malow Co. of Orlando; Florida Hospital Kissimmee and Florida Hospital Kissimmee Medical Office Building for Sunrise Electric of Longwood; St. Cloud Regional Medical Center renovations directly for the med center; and Morgan & Morgan Orlando office expansion for LT Contracting Services of Orlando.

Sales

Capstone Apartment Partners brokered the sale of Sun Club Apartments in Kissimmee to Insula Capital Management for $4.5 million, or $34,615 per unit, from Averio Inc. Built in 1973, the 130-unit complex was 98 percent occupied at the time of sale. The seller was a bank that foreclosed on the property about 11/2 years ago and had addressed some of the external deferred maintenance. The buyer plans to complete external renovations, said Capstone Partner Enon Winkler. Jad Richa, Winkler, Deucie Bies and Brian Hunsicker represented the buyer.

Leases

Jeff Bloom, senior director at NAI Realvest, and associate Megan Minter brokered two leases representing St. Cloud-based Moon's Saw and Tool Inc., the landlord of Orlando Central Park. They also represented the local tenants.MIC PCB Assembly Services, a microelectronics firm, leased 6,500 square feet. Orlando Novelty leased 5,500 square feet.

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Retail lender takes former Sprint offices

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