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Construction & Design                                           Real estate Weekly                                              B5 Wednesday, June 29, 2011




Strike could halt $10B in projects, warns REBNY
                                                                                                    By Roland li                       members, and Local 14 has         ect would affect 1,000 work-
                                                                                                       A potential work stoppage       around 1,600. Major proj-         ers. One site that will likely
                                                                                                    by operating engineers could       ects that would be affected       weather a strike is One World
                                                                                                    jeopardize new construction        by a strike include Silver-       Trade Center, where unions
                                                                                                    projects worth nearly $10          stein Properties’ trio of World   reportedly would not want
                                                                                                    billion, affecting 11,300 con-     Trade Center towers, whose        to be seen as an obstacle to-
                                                                                                    struction workers, according       costs total $3 trillion and in-   wards completing the highly
                                                                                                    to data from the Real Estate       volve 1,100 workers.              symbolic project.
                                                                                                    Board of New York.                    Work could be halted at            Developers and union of-
                                                                                                       Operating Engineers Local       Extell Development Co.’s          ficials are currently in discus-
                                                                                                    14 and 15 are seen as the most     $240 million International        sions. The city has declined
                                                                                                    likely group to strike, in part    Gem Tower at 44 West 47th         to become involved, because
                                                                                                    because of their lucrative, six-   Street and $500 million resi-     officials say that the talks are
                                                                                                    figure salaries that developers    dential and hotel project at      between private groups.
                                                                                                    are seeking to cut.                157 West 57th Street, which           “There’s a lot of hard-
                                                                                                       Operating engineers con-        is planned to be the tallest      working men and women that
                                                                                                    trol movement of personnel         residential tower in the city.    want to continue to work and
                                                                                                    and materials and are a crucial       Those two projects in-         a lot of projects throwing a lot
Admirals Row will have a supermarket, retail space and 127,000 s/f of industrial space.             part of construction projects,     volve some 1,350 construc-        of money into the economy
                                                                                                    but their contracts expire on      tion workers. A stoppage at       that we don’t need to stop,”

  Review process underway                                                                           June 30.
                                                                                                       Local 15 has around 4,800
                                                                                                                                       Forest City Ratner’s $800
                                                                                                                                       million Barclays Center proj-
                                                                                                                                                                         said Steven Spinola, president
                                                                                                                                                                         of REBNY, told Crain’s.



  for Admirals Row project DOB ammends insurance regs
   Public review for the transfer of the six-     property from the federal government through          The New York City De-          to the attention of the New
acre Admirals Row site at the Brooklyn Navy       the National Guard Bureau to the City of New      partment of Buildings recent-      York State Bar Association,
Yard from the federal government to the City      York, which owns the 300-acre Brooklyn Navy       ly amended its regulations         the Construction Law Com-
of New York got underway lats week                Yard property.                                    with respect to insurance that     mittee of the Association
   Deputy Mayor for Economic Develop-                The designated developer would en-             must be obtained by builders       assembled a Task Force on
ment Robert K. Steel and Brooklyn Navy            ter into a long-term lease for the site that      in order to obtain permits.        Construction Insurance to
Yard Development Corporation President and        now houses 12 dilapidated and unused struc-           The objective, at least in     negotiate a solution with the
CEO Andrew H. Kimball said that, after the        tures.                                            part, was to reduce the City’s     City , headed by construction/
transfer, the site will become part of Brooklyn      The plan includes the restoration of two of    exposure to loss when things       insurance attorney Kevin J.
Navy Yard.                                        the structures — Building B and the Timber        go wrong on construction           Connolly of Anderson Kill &
   BNY Development Corporation, which             Shed — which would be incorporated into the       sites. The resulting regulation,   Olick. After the Task Force
manages the 300-acre industrial park on be-       new development.                                  however, contained require-        conveyed its concerns to
half of the City, will oversee redevelopment         The development of Admirals Row will con-      ments compliance with which        the City’s Department of
of the site, creating a 74,000 s/f supermarket    tinue the expansion underway at the Brooklyn      was literally impossible.          Buildings, the Department
and 79,000 s/f of retail space and 127,000 s/f    Navy Yard — its largest growth since WWII,            Left unchanged, the reg-       promptly scheduled a con-
of industrial space.                              adding more than 1.5 million square feet of       ulation would either have          sultative meeting and began
   The Department of City Planning certified      new space and 2,000 new jobs.                     ended the issuance of building     its own work on a proposed              KEVIN CONNOLLY
the project’s land use application, beginning        The Yard’s existing four million square        permits or would have lim-         solution.
the seven-month-long public review process.       feet of space — currently consisting of 40        ited the issuance of permits           As originally drafted, the    evening of June 21, 2011,
   The project is expected to create 500 per-     rentable buildings with more than 275 tenants     to those who were able to          Regulation demanded that          the Department of Buildings
manent retail and industrial jobs and hundreds    — is 99% occupied and 5,800 people come           secure certificates of dubious     the insurance policies lack       announced its policy in con-
of additional construction jobs.                  to work at the Navy Yard every day, up from       integrity.                         a “contractual liability ex-      nection with the enforcement
   “We are thrilled to be one step closer to      3,600 in 2001.                                        When the situation came        clusion,” which means that        of the new regulation:
delivering on our longstanding commitment                                                                                              the insurance company does            “The Department of Build-
to create 500 industrial and retail jobs on                                                                                            not cover the policyholder
the Admirals Row and bring access to fresh,
affordable produce to the community,” said
                                                  Sorkin to lead ‘super jury’ at WAF                                                   for breaches of contract and
                                                                                                                                       the consequences of those
                                                                                                                                                                         ings has fully considered the
                                                                                                                                                                         comments contained in your
                                                                                                                                                                         email and the attached memo-
Andrew H. Kimball, president and CEO of              World Architecture Festival (WAF)      5,000-unit community in Penang,            breaches. The problem is          randum regarding Section
the Brooklyn Navy Yard Development Cor-           has confirmed Michael Sorkin will         Malaysia, master planning for the Zha      that substantially all liabil-    101-08 (Required Insurance
poration.                                         head-up the ‘super-jury’ at this year’s   Bei district in Shanghai and the design    ity insurance contains this       and Indemnification) of the
   “We look forward to gaining input during       WAF Awards, to determine which            of a town of 40,000 on the Black Sea       exclusion, because liabil-        Department’s Rules, and has
each step of the process on a project that will   building will be crowned World            in Turkey.                                 ity insurance protects against    decided to take the following
incorporate significant historic preservation     Building of the Year 2011.                   Entries for the WAF Awards close        accidents, not breaches of        action:
into a uniquely attractive and sustainable site      Sorkin is principal of the Michael     July 1.                                    contract. However, there are          (1) The Department will
plan.”                                            Sorkin Studio in New York City and           Joining Sorkin on the super-jury        provisions, known as the “In-     post a notice on its website to
   Following completion of the public review      one of the most influential architec-     will be: Ben van Berkel, UNStudio,         sured Contract Exception,”        the effect that subdivision (d)
process, Brooklyn Navy Yard Development           tural and urban designers practising      Rotterdam; Jo Noero, Noero Wolff           that restore coverage for some    (1)(i)(E)(1)(3) is clarified in
Corporation will issue a request for proposals    today.                                    Architects, Cape Town; Odile Decq,         indemnity agreements, and         the following way: the words
to select a developer for the project.               Recent projects include planning       ODBC, Paris; and Professor Kongjian        it is on that exception rather    “contractual liability exclu-
   If it is approved, the project would break     and design for a sustainable city of      Yu, Principal of Turenscape, Bei-          than the whole exclusion, that    sion” may be understood as
ground in 2012 following the transfer of the      300,000 near Wuhan in China, a            jing.                                      the City’s attention needed to    “an Insured Contract Excep-
                                                                                                                                       be focused.                       tion no less favorable to the
                                                                                                                                           A second problem stemmed      insured than ISO Form CG
                                                                                                                                       from the City’s insistence that   00 01 (12/07 ed.).”
                                                                                                                                       before a construction policy          (2) The Department will
                                                                                                                                       could be cancelled, written       not enforce subdivision (d)(1)
                                                                                                                                       notice had to be given to the     (i)(F) beyond what is already
                                                                                                                                       City. The issue of who is noti-   required under New York In-
                                                                                                                                       fied of an insurance cancella-    surance Law regarding notice
                                                                                                                                       tion has been an ongoing one,     of cancellation or termination
                                                                                                                                       and it is likely that the last    of general liability insurance
                                                                                                                                       word has not been spoken: but     policies.”
                                                                                                                                       the current state of the market       Kevin J. Connolly, chair
                                                                                                                                       provides for notice only to       of the Insurance Task Force,
                                                                                                                                       the “First Named Insured,”        commented, “The Depart-
                                                                                                                                       and that is the developer, not    ment’s announcement accom-
                                                                                                                                       the City.                         plished the urgently-needed
                                                                                                                                           Responding promptly to        changes that were the focus of
                                                                                                                                       a Task Force enumeration of       the State Bar Task Force. We
                                                                                                                                       these problems and recom-         appreciate the speed with
                                                                                                                                       mended amendments, on the         which the City responded to
                                                                                                                                                                         this challenge. “

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Insurance

  • 1. Construction & Design Real estate Weekly B5 Wednesday, June 29, 2011 Strike could halt $10B in projects, warns REBNY By Roland li members, and Local 14 has ect would affect 1,000 work- A potential work stoppage around 1,600. Major proj- ers. One site that will likely by operating engineers could ects that would be affected weather a strike is One World jeopardize new construction by a strike include Silver- Trade Center, where unions projects worth nearly $10 stein Properties’ trio of World reportedly would not want billion, affecting 11,300 con- Trade Center towers, whose to be seen as an obstacle to- struction workers, according costs total $3 trillion and in- wards completing the highly to data from the Real Estate volve 1,100 workers. symbolic project. Board of New York. Work could be halted at Developers and union of- Operating Engineers Local Extell Development Co.’s ficials are currently in discus- 14 and 15 are seen as the most $240 million International sions. The city has declined likely group to strike, in part Gem Tower at 44 West 47th to become involved, because because of their lucrative, six- Street and $500 million resi- officials say that the talks are figure salaries that developers dential and hotel project at between private groups. are seeking to cut. 157 West 57th Street, which “There’s a lot of hard- Operating engineers con- is planned to be the tallest working men and women that trol movement of personnel residential tower in the city. want to continue to work and and materials and are a crucial Those two projects in- a lot of projects throwing a lot Admirals Row will have a supermarket, retail space and 127,000 s/f of industrial space. part of construction projects, volve some 1,350 construc- of money into the economy but their contracts expire on tion workers. A stoppage at that we don’t need to stop,” Review process underway June 30. Local 15 has around 4,800 Forest City Ratner’s $800 million Barclays Center proj- said Steven Spinola, president of REBNY, told Crain’s. for Admirals Row project DOB ammends insurance regs Public review for the transfer of the six- property from the federal government through The New York City De- to the attention of the New acre Admirals Row site at the Brooklyn Navy the National Guard Bureau to the City of New partment of Buildings recent- York State Bar Association, Yard from the federal government to the City York, which owns the 300-acre Brooklyn Navy ly amended its regulations the Construction Law Com- of New York got underway lats week Yard property. with respect to insurance that mittee of the Association Deputy Mayor for Economic Develop- The designated developer would en- must be obtained by builders assembled a Task Force on ment Robert K. Steel and Brooklyn Navy ter into a long-term lease for the site that in order to obtain permits. Construction Insurance to Yard Development Corporation President and now houses 12 dilapidated and unused struc- The objective, at least in negotiate a solution with the CEO Andrew H. Kimball said that, after the tures. part, was to reduce the City’s City , headed by construction/ transfer, the site will become part of Brooklyn The plan includes the restoration of two of exposure to loss when things insurance attorney Kevin J. Navy Yard. the structures — Building B and the Timber go wrong on construction Connolly of Anderson Kill & BNY Development Corporation, which Shed — which would be incorporated into the sites. The resulting regulation, Olick. After the Task Force manages the 300-acre industrial park on be- new development. however, contained require- conveyed its concerns to half of the City, will oversee redevelopment The development of Admirals Row will con- ments compliance with which the City’s Department of of the site, creating a 74,000 s/f supermarket tinue the expansion underway at the Brooklyn was literally impossible. Buildings, the Department and 79,000 s/f of retail space and 127,000 s/f Navy Yard — its largest growth since WWII, Left unchanged, the reg- promptly scheduled a con- of industrial space. adding more than 1.5 million square feet of ulation would either have sultative meeting and began The Department of City Planning certified new space and 2,000 new jobs. ended the issuance of building its own work on a proposed KEVIN CONNOLLY the project’s land use application, beginning The Yard’s existing four million square permits or would have lim- solution. the seven-month-long public review process. feet of space — currently consisting of 40 ited the issuance of permits As originally drafted, the evening of June 21, 2011, The project is expected to create 500 per- rentable buildings with more than 275 tenants to those who were able to Regulation demanded that the Department of Buildings manent retail and industrial jobs and hundreds — is 99% occupied and 5,800 people come secure certificates of dubious the insurance policies lack announced its policy in con- of additional construction jobs. to work at the Navy Yard every day, up from integrity. a “contractual liability ex- nection with the enforcement “We are thrilled to be one step closer to 3,600 in 2001. When the situation came clusion,” which means that of the new regulation: delivering on our longstanding commitment the insurance company does “The Department of Build- to create 500 industrial and retail jobs on not cover the policyholder the Admirals Row and bring access to fresh, affordable produce to the community,” said Sorkin to lead ‘super jury’ at WAF for breaches of contract and the consequences of those ings has fully considered the comments contained in your email and the attached memo- Andrew H. Kimball, president and CEO of World Architecture Festival (WAF) 5,000-unit community in Penang, breaches. The problem is randum regarding Section the Brooklyn Navy Yard Development Cor- has confirmed Michael Sorkin will Malaysia, master planning for the Zha that substantially all liabil- 101-08 (Required Insurance poration. head-up the ‘super-jury’ at this year’s Bei district in Shanghai and the design ity insurance contains this and Indemnification) of the “We look forward to gaining input during WAF Awards, to determine which of a town of 40,000 on the Black Sea exclusion, because liabil- Department’s Rules, and has each step of the process on a project that will building will be crowned World in Turkey. ity insurance protects against decided to take the following incorporate significant historic preservation Building of the Year 2011. Entries for the WAF Awards close accidents, not breaches of action: into a uniquely attractive and sustainable site Sorkin is principal of the Michael July 1. contract. However, there are (1) The Department will plan.” Sorkin Studio in New York City and Joining Sorkin on the super-jury provisions, known as the “In- post a notice on its website to Following completion of the public review one of the most influential architec- will be: Ben van Berkel, UNStudio, sured Contract Exception,” the effect that subdivision (d) process, Brooklyn Navy Yard Development tural and urban designers practising Rotterdam; Jo Noero, Noero Wolff that restore coverage for some (1)(i)(E)(1)(3) is clarified in Corporation will issue a request for proposals today. Architects, Cape Town; Odile Decq, indemnity agreements, and the following way: the words to select a developer for the project. Recent projects include planning ODBC, Paris; and Professor Kongjian it is on that exception rather “contractual liability exclu- If it is approved, the project would break and design for a sustainable city of Yu, Principal of Turenscape, Bei- than the whole exclusion, that sion” may be understood as ground in 2012 following the transfer of the 300,000 near Wuhan in China, a jing. the City’s attention needed to “an Insured Contract Excep- be focused. tion no less favorable to the A second problem stemmed insured than ISO Form CG from the City’s insistence that 00 01 (12/07 ed.).” before a construction policy (2) The Department will could be cancelled, written not enforce subdivision (d)(1) notice had to be given to the (i)(F) beyond what is already City. The issue of who is noti- required under New York In- fied of an insurance cancella- surance Law regarding notice tion has been an ongoing one, of cancellation or termination and it is likely that the last of general liability insurance word has not been spoken: but policies.” the current state of the market Kevin J. Connolly, chair provides for notice only to of the Insurance Task Force, the “First Named Insured,” commented, “The Depart- and that is the developer, not ment’s announcement accom- the City. plished the urgently-needed Responding promptly to changes that were the focus of a Task Force enumeration of the State Bar Task Force. We these problems and recom- appreciate the speed with mended amendments, on the which the City responded to this challenge. “