News: Long Island

Racanelli Construction serves as construction manager on $20.4 million, 145-room Courtyard Marriott in Westbury

Westbury, NY Racanelli Construction Company, Inc. is serving as the construction manager on an estimated $20.4 million contract to build a 145 room Courtyard Marriott on an elevated parking deck. The project was awarded by CHSGH Long Island Hotel Partners, LLC.

In its role as construction manager, Racanelli Construction will manage the project’s full scope of work, encompassing: excavation, post-tension concrete, as well as structural precast plank, masonry and cultured stone veneer and steel. An exterior insulation and finishing system (EIFS) will be installed along with all roofing, doors, frames and hardware, and aluminum windows. The firm will also handle all millwork, carpentry and drywall, tub surrounds, vinyl composition tile and carpets, ceramic tine, stone tops, painting and wall covering. A swimming pool will also be built. All utilities (i.e., plumbing, heating, ventilating and air conditioning [HVAC], and electrical) will be installed.

The project is slated for completion in April.

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The evolving relationship of environmental  consultants and the lending community - by Chuck Merritt

The evolving relationship of environmental consultants and the lending community - by Chuck Merritt

When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.