VERTEX was retained by a surety to perform a site investigation after a contractor was terminated from a hospitality project in Miramar, Florida. The project consisted of the construction of a 5-story Holiday Inn Express hotel with 117 rooms. The construction of the Hotel was about 80% completed when termination had occurred. Construction included reinforced masonry exterior shell with precast hollow-core plank floors at each level along with a large surface parking lot surrounding the perimeter of the hotel. The exterior was applied stucco cladding with decorative banding for the edges around a TPO and Barrel tile roofing systems. The interior of the hotel included a large lobby area with an industrial kitchen and other amenities, as well as two elevators and fully furnished rooms with a variety of finishes throughout the hotel.
VERTEX services included the initial site investigation activities to observe the current conditions of the project, a Cost-to-Complete analysis, subcontractor ratifications, and a project relet with the award of a qualified completion contractor that was eventually tendered over to the Owner to complete the project. The surety’s loss was minimized due to the efficient process implemented by VERTEX and the successful negotiation of a market-value completion contract.
To learn more about VERTEX’s Surety Claims Consulting or Completion Contracting services or to speak with a Construction Expert, call 888.298.5162 or submit an inquiry.
