VERTEX was initially retained as a surety consultant for the completion of the Village at Iron Branch, an apartment community in Millsboro, Delaware. The project included the gut renovation of 38 apartments across 10 buildings, a combination of 2 buildings, ADA upgrades, a new community building with leasing offices, and various site amenities. VERTEX assisted the surety with review and resolution of subcontractor claims and solicitation and tender of a completion contractor.
In addition to surety consulting, VERTEX also served as a delay and damages expert for the surety in connection with litigation of the project. This assignment involved multiple service lines including surety claims consulting, litigation support, and forensic accounting. VERTEX’s analysis included an evaluation of lost rental income, tenant relocation costs, completion and consulting costs, project management costs, extended financing costs, and tax credit adjusters.