Shallotte Board Selects Samet Corporation for Town Hall Redevelopment
News Summary The Shallotte Board of Aldermen has chosen Samet Corporation as the construction manager for the town hall redevelopment project. This decision aims to consolidate municipal facilities into a single, functional building that meets the needs of the growing community. The project is part of a larger initiative focusing on enhancing public access and […]
Procore Technologies to Release Q2 Financial Results
News Summary Procore Technologies will announce its second quarter financial results, followed by a conference call to discuss the details with analysts and investors. This event marks an important moment for stakeholders as Procore continues to show its dedication to operational transparency in the construction industry. With significant growth and a solid platform recognized for […]
Scope Technologies Launches ProDocs 2.0 to Transform Roofing Contractor Workflows
News Summary Scope Technologies has launched ProDocs 2.0, a game-changing software aimed at revolutionizing the roofing industry by streamlining workflows through automation and enhanced financial management tools. The platform offers features like instant smart quotes, automated purchase orders, and improved financial management to enhance operational efficiency for roofing contractors. ProDocs 2.0 integrates seamlessly with existing […]
Cronheim Hotel Capital Secures $39 Million for New AC Hotel in Downtown Knoxville
News Summary Cronheim Hotel Capital has secured $39 million in financing for the construction of the AC Hotel Knoxville Downtown, set to feature 161 rooms and a rooftop bar. Located at the intersection of Walnut St. and Locust St., the project emphasizes sustainability with a C-PACE component. Construction is expected to be completed by winter […]
Royal Palm Companies Files $67 Million Lawsuit Over Miami Project
News Summary Royal Palm Companies has initiated a $67 million lawsuit against Silverstein Capital Partners and Monarch Alternative Capital, alleging conspiracy and financial misconduct related to the Legacy Miami Worldcenter project. The lawsuit claims the defendants engaged in unethical practices, including the transfer of a loan to a ‘dummy corporation’ and imposing excessive interest rates. […]
Integration of AI in Arbitration: Ethical Considerations
News Summary The use of artificial intelligence (AI) in arbitration processes within the construction industry is on the rise, yet it faces several ethical and practical challenges. While AI tools are currently limited to enhancing remote hearings and database navigation, experts caution against over-reliance. Past cases reveal potential inaccuracies in AI-generated legal documents, further complicating […]
United Family Announces New Supermarket and Express Store in Seminole
News Summary The United Family has unveiled plans to build a 49,000-square-foot United Supermarket and a United Express convenience store in Seminole. Set to replace the existing store, the new facility will feature modern amenities, including a full-service pharmacy, drive-through options, and enhanced grocery shopping experiences. Construction is expected to take about 10 to 11 […]
Lydian Energy Secures $233 Million for Texas Battery Projects
News Summary Lydian Energy has achieved its first institutional project financing of $233 million to develop three battery energy storage system projects in Texas. The funding will enhance grid performance and support clean energy initiatives within the ERCOT market. KeyBank and ING are the main financial partners backing the Pintail, Crane, and Headcamp projects. With […]
Tragic Construction Site Incidents in Brooklyn
News Summary Recent construction site tragedies in Brooklyn have resulted in the deaths of two workers, raising serious concerns about safety practices. A 44-year-old worker was killed when a metal-framed wall fell from an unauthorized forklift during windy conditions. In a separate incident, another worker was struck by a speeding vehicle while directing traffic. The […]
Parsespic Secures $20 Million in Series A Funding to Innovate Construction Supply Chain
News Summary Parspec, an AI-native software platform based in San Mateo, has raised $20 million in a Series A funding round, bringing its total funding to $31 million. Led by Threshold Ventures, the investment will help expand Parspec’s platform to streamline construction procurement processes, enhancing collaboration within the industry. Founded in 2021, Parspec has achieved […]