REBusinessOnline

Updated Estimates Show Hurricane Florence Caused $17B in Damage in North Carolina

RALEIGH, N.C. — In a new report released by the North Carolina Office of State Budget and Management, the updated damage estimate from Hurricane Florence has increased to $17 billion, up from an earlier estimate of $13 billion. “Six weeks ago, Hurricane Florence’s powerful storm surges, winds and rains brought unprecedented devastation to our state, causing an estimated $17 billion in damage,” said North Carolina Gov. Roy Cooper. “I’ve spent time since then visiting with …

Austin Bold Breaks Ground on 5,000-Seat Soccer Stadium

AUSTIN, TEXAS — Austin Bold FC, a professional soccer team coming to the state capital in 2019, has broken ground on its 5,000-seat stadium. The venue will be located adjacent to the Grand Plaza at Circuit of The Americas, Austin’s destination for motorsports entertainment. The club is financing construction of the stadium, which is expected to cost about $5 million. The property will be the first ever purpose-built soccer stadium in

State Farm Arena in Downtown Atlanta Opens After $192M Renovation, Rebranding Program

ATLANTA — State Farm Arena, located at 1 State Farm Drive in downtown Atlanta, has opened its doors following a $192 million renovation program, the second largest renovation in NBA history. The Atlanta Hawks Basketball Club committed to an 18-year lease extension to remain in downtown Atlanta at the city-owned arena through 2046. The former Philips Arena features the NBA’s third-largest center-hung scoreboard and fan-friendly food pricing. Restaurant and entertainment options include …

Hurricane Michael Wind, Storm Surge Causes Estimated $3B to $5B in Losses, CoreLogic Analysis Shows

MEXICO BEACH, FLA. — CoreLogic, a global property information, analytics and data-enabled solutions provider, has released updated residential and commercial storm surge and wind loss estimates for Hurricane Michael. According to new data, the wind losses for residential and commercial properties in Florida are expected to be between $2 billion and $3 billion, while the storm surge losses, including losses covered by the National Flood Insurance Program, are slated to be an additional $500 …

Trammell Crow Breaks Ground on 259,947 SF Office, Administrative Building in Irving

IRVING, TEXAS — Trammell Crow Co. has broken ground on a 259,947-square-foot office and administrative building in Irving to house the U.S. Citizenship and Immigration Services’ Texas Service Center. Situated on 27 acres, the build-to-suit property is expected to be complete by early 2020. Gensler is the project architect and Manhattan Construction Co. is the general contractor. JPMorgan Chase provided project

$7M Restoration of Detroit’s Old Wayne County Building Complete

DETROIT — The Christman Company has completed the restoration of the Old Wayne County Building located at 600 Randolph St. in Detroit. The scope of the project included improvements to the exterior façade and lighting as well as the removal of old furniture. Since March 2016, the building’s ownership group has invested $7 million in restoring the property. Quinn Evans Architects served as the project architect. The 250,000-square-foot building has been vacant since Wayne County government …

Cadence McShane Breaks Ground on 527,000 SF Sherman High School in North Texas

SHERMAN, TEXAS — Cadence McShane Construction Co. has broken ground on a new, 527,000-square-foot high school for the city of Sherman, located north of Dallas near the Oklahoma border. The new campus will be divided into three main buildings with open-air courtyards connecting each wing. Additional components will include a 2,000-seat stadium, an 800-seat auditorium, a competition gym and several practice gyms, baseball and softball fields, an indoor practice facility and a standalone field …

Kraus-Anderson Completes Construction of $50M Middle School in Cottage Grove, Minnesota

COTTAGE GROVE, MINN. — Kraus-Anderson has completed the construction of Oltman Middle School in Cottage Grove. The $50 million school opened to students this month and replaces the former school in St. Paul Park. The facility can currently accommodate as many as 1,100 students in grades 6-8 with future expansion capabilities for as many as 1,450 students. Each grade level is housed in its own two-story section of the building. Designed by architects Rego + Youngquist, the 188,000-square-foot …

Adolfson & Peterson Begins Work on $84M Arts, Athletic Complex for Arlington ISD

ARLINGTON, TEXAS — Adolfson & Peterson Construction has begun work on an $84 million arts and athletics facility for the Arlington Independent School District (ISD). Designed by HKS, the property will be situated on more than 21 acres and serve the entire school district. Individual features will include a 97,963-square-foot performance and demonstration venue, a 1,250-seat concert hall and a 425-seat theater. The 97,548-square-foot athletic complex will offer facilities for swimming, …

McCarthy Breaks Ground on 360,000 SF Tech Campus for Collin College in Metro Dallas

ALLEN, TEXAS — McCarthy Building Cos. Inc. has broken ground on Collin College Technical Campus, a 360,000-square-foot development in Allen, a northeastern suburb of Dallas. The project will deliver a 177,646-square-foot building for trade studies that includes lab space, auto shops and carpentry shops, as well as a 151,000-square-foot academic building with classrooms, administrative offices and common spaces. Additional features will include a 23,700-square-foot conference building, a …

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