Cyrus McCrimmon, The Denver Post

Strong job and population gains continued to support Denvers office and industrial markets in the second quarter, and even the struggling retail sector got some relief as the number of vacant big-box stores declined.

New jobs have created demand for new space, said Matt Vance, an economist and director of research for CBRE in Colorado, which provided a market update Monday.

Of the three major commercial real estate segments, industrial remains the strongest in metro Denver. Tenants have absorbed more space than they have let go for an unprecedented 29th consecutive quarter, with no signs that is about to end.

That is the longest run in my 30-year career, saidJim Bolt, executive vice president with CBRE Industrial & Logistics Services.It is hard to get less vacancy than what we have.

Industrial lease rates continue to rise, supported by restraint in new construction. About three-quarters of what is in the pipeline will be built around Denver International Airport and on the north side of the metro area.

One reason industrial space is in such demand is that consumers are buying more goods online, necessitating more distribution centers and warehouses.

Traditional retailers, however, remain under pressure. Payless ShoeSource, RadioShack, JC Penny, Sears, Kmart, Macys, Guess,Abercrombie & Fitch, American Apparel, Bebe and Gordmans are some of the chains that have announced bankruptcies or wide-scale store closures.

But mixed-use retail, the smaller stores that fill the ground floor of some new urban apartment and office buildings, as well as space for restaurants, remains in demand.

Matthew DeBartolomeis, vice president with CBRE Retail Services, saidmetro Denver developers have nearly 1.2 million square feet of retail space under construction and delivered 313,000 square feet of new retail space, a 9 percent increase compared with the same period last year.

Just two projects, the second phase of the Stanley Marketplace and the Alamo Drafthouse Cinema in the Sloans Lake neighborhood, accounted for more than half the new retail space added. On the downside, the heavy hail storm in May knocked 50-plus stores at Colorado Mills out of commission until repairs are completed.

A year ago this month, Englewood-based Sports Authority, once the nations largest sporting goods retailer, closed its remaining 460 stores, including 31 in Colorado after failing to find a buyer in bankruptcy.

DeBartolomeis also noted that even the big-box retail spaces that dot the metro area are slowing getting absorbed. There were 92 of those a year ago and 76 at the end of the second quarter.

Chris Phenicie, senior vice president with CBRE Advisory & Transaction Services, notes that all theresidential development in central Denver is supporting both retail and office development, giving the area a vibrancy that appeals to educated millennials and the employers trying to locate near them.

Read more:
Denver's commercial real estate market hangs tough thanks to job gains - The Denver Post

GRAND RAPIDS After running into challenges with leasing retail space at a prominent downtown redevelopment, a DeVos-held entity got permission from the state to delay its incentive loan repayments.

The company behind The Morton, which was redeveloped and managed by Grand Rapids-based Rockford Construction Co. Inc. in 2015, has struggled to lease ground-floor and lower-level retail space in the facility, according to documents filed with the Michigan Strategic Fund.

While the developer has successfully rented commercial offices and market-rate apartments in The Morton, it has leased only 38 percent of the 38,000 square feet of retail space and has no negotiations underway currently with possible tenants, according to the MSF briefing documents.

That struggle to lease the retail space led DeVos family company RDV Corp., the investors in the project, to request an 18-month deferment on the loan repayment related to state incentives.

The MSF board approved the request in late June. The entity previously had awarded the $27 million project more than $4.3 million in incentives in February 2015.

For its part, Rockford executives attribute the challenges to the sites original design.

The Morton ground floor is a unique space and very well located along Monroe Center, Mike Mraz, managing partner of real estate development for Rockford Construction, said in an email to MiBiz. As a renovated former hotel, the available retail and restaurant opportunities are large spaces that are original to the building. We continue to receive interest, and it will take the right operator to utilize the location most effectively.

Lease rates for the available spaces are listed at between $12 and $20 per square foot and tenants are responsible for all utilities and upkeep of their spaces.

Additionally, the MSF documents note that 82 of the 99 residential units in the 13-story building have been leased.

According to commercial real estate sources, a combination of the low visibility related to the buildings original design as a hotel and the need for upfront investment from any new tenants serve as key challenges to getting the retail space leased up.

Its a unique space just waiting for the right user or concept, said Chris Prins, an associate at Grand Rapids commercial brokerage Colliers International Inc., who currently has the listing for The Morton retail space. But its going to take quite a bit for a build-out.

In late May, boutique retailer Apothecary Off Main moved into 779 square feet of space on the ground floor of The Morton building along Monroe Center. The company previously occupied space in the Rockford Construction-managed retail incubator known as MoDiv.

While retail as a whole has suffered in recent years as more consumers have turned to e-commerce for their shopping needs, many sources still say that small, specialty retail particularly in urban environments can have a bright future.

Mraz shares that sentiment with regard to space at The Morton.

We continue to be confident in downtown retail, he said.

Read the original here:
DeVos-held firm gets loan deferment on GR facility amid struggle to fill retail space - MiBiz

Delray Beach has been explosive lately, and more development is on its way.

Shopping, local parking and luxury can be expected at 4th and 5th Delray, a mixed-use project by iPic and Samuel & Associates that broke ground on July 5.

The destination will feature an iPic Theaters complex, which offers an affordable, yet luxurious movie-going experience. The 528-seat theater will debut premium plus seating pods and premium chaise lounges, guaranteeing comfort and class for your night out.

On the professional side, 4th and 5th Delrays Class A office space, including iPics global headquarters, is expected to spur local economic development.

Shoppers should look forward to the 7,5000 square feet of retail space that will align the streets with new boutiques and retail opportunities.

The development will also include a six-level, 326-space garage adding 238 additional parking spaces. This parking lot will offer a rooftop green space, accessible to the public.

One of the most beneficial aspects of the project is the number of jobs being brought to the community. The theater, offices and retailers together will bring an estimated 421 jobs to the downtown area.

Currently, the local firm of Butters Construction & Development, serving as the general contractor for 4th and 5th Delray, has generated more than 400 temporary construction positions.

Photo courtesy of Samuels & Associates

The rest is here:
Construction Begins On 4th And 5th Delray, A Mixed-Use Project Downtown - Boca Life Magazine

This quarter was packed full of groundbreakings! After over a decade of planning, construction has finally commenced on the new St. Pete pier. Construction crews have started driving piles into Tampa Bay to support the over-water portion of the pier. It will take 6 months to complete the pile driving process, however construction on the pier deck is scheduled to begin as early as October.

In other groundbreaking news, located on Fourth Avenue North between Third and Fourth streets, the site of the Museum of the American Arts of Crafts Movementwas fenced off this quarter for site preparation. The $70 million privately funded museum will occupy 137,000 square feet and stand 5 stories tall. The museum will include a 100-seat auditorium, a resource library, a children's education center, a 300-seat upscale restaurant, a cafe, retail store and event space. The expected opening date is May 2019.

Two more city-funded projects broke ground this quarter, as well -- The Campbell Park Skatepark and the new St. Pete Police Headquarters. The 167,000 square foot police HQ, which includes an offsite shooting range, will cost the city $85 million. The old headquarters will be demolished sometime in 2019 after the new complex is complete.

Near Tropicana Field in Campbell Park, the Campbell Park Skatepark finally broke ground after over 2 years of anticipation. Once the 28,000 square foot skatepark is complete, it will be the largest skatepark in the entire state of Florida.

Also this quarter, some smaller townhome projects started going vertical. District on 9th (34 units) and Skye333 (10 units) started construction near the EDGE District. On 4th Ave South, The Sabal broke ground on four townhomes.

In May, we broke the news of First North Lofts, an 11-story apartment tower that will soon rise near the EDGE District. The 214-unit tower will also include 18,500 square feet of ground-level retail space. Groundbreaking is set for the first quarter of 2018.

ONEkeeps climbing into the St. Pete stratosphere. Currently the condo tower is on floor 30 of 41 and the parking garage is on the 6th and final floor. The Hyatt Place that sits on the same block is scheduled to open by the end of the year.

Lastly, with exciting news, we also bring some disappointing news. We've learned recently that 801 Conway, a 35-unit townhome community located on 8th St North, has been cancelled. Unfortunately, the project was never able to obtain the necessary permits to proceed with construction. No future plans have been made for the land intended for 801 Conway.

As always, be sure to check out our previous downtown development updates to track the progress of all active projects currently under construction (1Q16,2Q16,3Q16,4Q16, 1Q17).

1st Ave S. Retail

Continue reading here:
Downtown St. Pete Development Update - Second Quarter 2017 - St. Pete Rising (blog)

Construct-A-Lead's comprehensive online construction database supplies the enormous, construction marketplace with valuable information for companies to be able to compete in the multi-billion dollar construction arena. The following construction projects offer users insight into the area's New York construction activity.

Chicago, IL (PRWEB) July 11, 2017

Construct-A-Lead, the industry's most comprehensive construction lead service, announces the following New York projects will go forward. Construct-A-Lead's newly implemented advanced search feature allows the user to find their leads or key contacts by project type, location, bid stage, dollar value, company, or keyword.

Users are able to track projects status, save searches, put personalized notes on projects, email a project to a colleague or customer, reach out directly to the decision maker and download construction leads with a one-touch feature.

Interested parties are invited to visit Construct-A-Lead.com and sign up for a no obligation test drive, where they will be able to experience these newly integrated features. Users will be able to receive regular alerts on new and updated construction projects, in accordance with the individual's preference.

An example of the New York projects available within the database is listed below. Reference the Project ID to utilize the new site features and to obtain direct contact information for each construction lead:

New York, NY Echelon - Plans call for the demolition of the existing building and the new construction of a 535-foot, 40 story tower with 27 units in 59,240 square feet of space. Construction start: Q3, Q4, 2017, $25,000,000. Project ID: 1394627

Long Beach, NY Medical Arts Pavilion Plans call for the new construction of a medical facility that will include an expanded emergency department, primary care, radiology services and room for a variety of medical specialists. Construction start: Q4, 2018, Q1, 2019, $99,000,000 Project ID: 1394721

Buffalo, NY The Forge on Broadway Plans call for the new construction of a 230,000-square-foot development to include 159 apartments, 11,600 SF of retail space and 25 townhomes. Construction start: Q4, 2017, Q1, 2018. $48,000,000 Project ID: 1391645

Ithaca, NY 118 College Avenue - Plans call for the new construction of a 4-story apartment building containing five dwelling units with a total of 28 bedrooms to attract primarily student tenants. Construction start: Q1, Q2, 2018. $1,100,000 Project ID: 1394416

Brooklyn, NY 271 Sea Breeze Avenue Plans call for the new construction of a 22-story, 114-unit mixed-use tower to include 32,000 square feet of community space and 200 parking spaces. Construction start: Q2, Q3, 2018, $40,000,000. Project ID: 1394372

Colonie, NY 123 Everett Rd Plans call for the new construction of a 50,300 SF, 2 story medical office building. Construction start: Q4, 2017, Q1, 2018. $10,000,000. Project ID: 1394693

Construct-A-Lead is an online database that connects users to large-scale commercial construction projects, including those hidden, private project leads.

The service features hotel construction, office buildings, retail construction, medical facilities, school renovations and much more, to help bid on construction including those hard-to-find private project leads, from planning stage through completion. Construct-A-Lead's daily updates of commercial construction project leads are an ideal solution for those who want to put their product or service into commercial, government and religious structures.

For more information, visit Construct-A-Lead.com online or call 855-874-1491.

For the original version on PRWeb visit: http://www.prweb.com/releases/2017/07/prweb14496929.htm

Excerpt from:
Construct-A-Lead Announces The Following New York Projects Will ... - Benzinga

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Continued here:
Find office space, retail space and industrial space ...

Posted: 7:15 a.m. Friday, July 07, 2017

The developer says Hobe Sound Station will bring a stylish retail center with the feel of Worth Avenue to a desolate section of U.S. 1.

But several locals in this laid back Martin County area say they like their neighborhood businesses just fine.

Theres no fun, no energy, no imagination along this stretch of U.S. 1. People leapfrog Hobe Sound. They go north to Stuart or south to Jupiter, said John Doyle, who is building the $7 million retail/office center. Crawdaddys Nawlins Grill & Bar and Lynoras restaurants are scheduled to open when construction is finished early next year about one mile north of Bridge Road on the east side of U.S. 1.

RELATED: MORE NORTH AREA NEWS FROM THE PALM BEACH POST

About four dozen condos the tallest would be 40 feet with prices starting at about $600,000 are planned. So are a neighborhood market with a gas station and a retail/office building. An Aldis grocery store may go in on the other side of U.S. 1, on the site of the former Horsefeathers bar.

Not everybody in Hobe Sound, an unincorporated area of about 15,000 residents north of Tequesta, is excited about the Mizner-style Hobe Sound Station. The 40,000-square-foot center is the first major development along U.S. 1 since the Publix Plaza was built about 15 years ago.

Hobe Sound doesnt want to be Palm Beach. We dont want to turn into another Abacoa. Were a very seasonal, quiet community. This project has Hobe Sound residents very nervous, said Harold Jenkins, a lifelong Hobe Sound resident, owner of a local landscape business and Martin County commissioner who represents the Hobe Sound and the Jupiter Island area.

Martin County, which has about 160,000 residents about one-tenth of Palm Beach County has a well-earned reputation of being a high hurdle for developers.

Hobe Sound Station is leaping that hurdle and could start of a flurry of unwelcome growth, said Jenkins.

Supporters of the project disagree.

They say Hobe Sound Station is a planned neighborhood that will fill commercial space along a desolate urban corridor. That four-mile stretch on U.S. 1 from Bridge Road north to Osprey Street has a Winn-Dixie plaza, a dog grooming store, a vaping shop, a recreational vehicle dealership, a couple of coffee shops, restaurants, auto parts stores and a nursing home.

The Palms Inn Hotel and adjacent restaurant closed three years ago. The building is vacant.

What that urban corridor does not have are residences with nearby upscale places to shop, dine, window shop or have a beverage.

Thats the niche Hobe Sound Station will fill, said Doyle.

(Hobe Sound Station) is not ringing the dinner bell for uncontrolled growth. We are the beneficiary of controlled growth between Jupiter and Stuart. We want to continue that controlled growth, said Doyle, who also built The Medalist and Old Cypress Village luxury residential communities on U.S. 1 in Hobe Sound. Doyle lives in the Medalist.

Businesses and families will be attracted to a walkable community, said Angela Hoffman, the executive director of the Hobe Sound Chamber of Commerce.

Hobe Sound Station is not urban sprawl. Its not tall buildings. Its a good start to attract more infill projects to enhance our community, said Hoffman.

Harry MacArthur, whose family has owned Harry and the Natives restaurant on U.S. 1 and Bridge Road for 65 years, doesnt buy it.

Martin County has fought to keep things small. We like it that way, said MacArthur, whose wood-paneled restaurant just north of Bridge Road offers live music, breakfast and pig roasts. Trinkets made by local artists are for sale at the door.

Others counter that new construction will pump dollars into the local economy.

Vic Pepitone, the owner of nearby Hobe Sound Produce on U.S. 1, agrees that Hobe Sound residents dont want major development. But Pepitone also wants more customers to buy his seafood, vegetables, fruits and boiled peanuts.

More people means more business, Pepitone said.

The tough part, says John Martin, who sells bait in Reel Life Bait & Tackle across U.S. 1 from Hobe Sound Station, is keeping a balance.

Locals are not looking for bigger restaurants and businesses. They like the fact that Jonathan Dickinson State Park separates them from the hustle and bustle of Palm Beach County, said Martin.

Yeah, we need the economic boost. But growth isnt something locals are used to, said Martin, who moved to Hobe Sound in 1985 from West Palm Beach for a calmer lifestyle.

Non-local restaurants will have a tough time attracting locals, said Sam Lenz, a longtime Hobe Sound area resident who owns Fog E Vapor vaping shop on U.S. 1.

People around here like local places where they know the owners, like Harrys, Lenz said, referring to Harry and the Natives restaurant. Its tough to break into the in crowd in Hobe Sound.

The next step for Hobe Sound Station will be winning approval for the Aldis, the neighborhood market with gas station and the 46 condominiums.

It wont be easy, said Harold Jenkins, the Martin County commissioner who represents Hobe Sound.

Martin County is ruled by extremes. People are either totally against development, or they are totally in favor of it. When (Doyle) makes those other proposals, there will be a lot of opposition, said Jenkins.

HOBE SOUND STATION: IN THE WORKS

* Approved: 15,000-square-foot area planned to open early 2018. Crawdaddys Nawlins Grill & Bar and Lynoras expected to open.

* Submitted for approval: 6,000-square-foot building neighborhood market with gas station adjacent to restaurant building

* Planned: 18,000-square-foot commercial/retail office planned adjacent to restaurant building

* Planned: 46 condominiums, gated community to be called The Preserve. The two- and three-bedroom units will start at about $600,000.

* Planned: Aldis grocery store on the other side of U.S. 1, at former site of Horsefeathers bar.

Read more:
Will retail complex revive Hobe Sound or make it Harbourside Place? - MyPalmBeachPost

A four-alarm fire early Friday gutted a partially constructed 7-story Oakland building, displacing at least 700 people who live nearby.

A caller reported seeing smoke from the structure at 2302 Valdez Street around 4:30 a.m., according to Interim Fire Chief Darin White.

Many Unanswered Questions in Oakland Construction Site Fires

The now-destroyed building, which had been under construction for several months, is the Alta Waverly. Its architect is Oakland-based Pyatok and developer is Wood Partners of Mill Valley. Upon completion next spring, the mixed-use project was expected to feature 196 homes and up to 31,500 square feet of retail space.

Instead, flames have reduced the Alta Waverly to a charred skeleton that is unstable and missing chunks of scaffolding. Plumes of smoke not only blanketed the area, but were also visible from as far as the South Bay, and sidewalks for several blocks in all directions were littered with soot and ash.The National Weather Service of the Bay Area said a satellite detected temperatures as high as 1,145 degrees Fahrenheit from the Oakland fire.

The 7-story building was expected to feature 196 homes and up to 31,500 square feet of retail space upon completion next spring. (July 6, 2017) Photo credit: Pyatok/Wood Partners

The first fire engine was on scene within five minutes of the initial call. Crews were forced to go on the defense immediately because flames were building at the center of the structure. In all, more than 80 firefighters battled the blistering flames with the assistance of more than two dozen fire apparatus, White said.

"We had zero injuries," he said with a smile.

But the danger has not passed.

The task of extinguishing the fire, which has since been knocked down, was made riskier as parts of the building crumbled around fire crews, while the scorching heatmade a large construction crane swing, White said.

4-Alarm Fire Engulfs Building in Oakland

Radiant heat was felt for several blocks around the fire. That, combined with the threat of the careening crane prompted road closures and roughly 100 evacuations, according to White. People who have been uprooted were given shelter through 5 p.m. at the Cathedral of Christ the Light at 2121 Harrison Street. They can spend the night at St. Vincent De Paul at2272 San Pablo Ave.

White was unable to specify when people will be allowed to return to their homes, citing ongoing concerns about the integrity of the crane. The evacuation order cannot be lifted until the crane, which could collapse, has been deconstructed and removed, he said. The Alameda County Sheriff's Office plans to send a drone into the scorched building to help the crane operator and Cal/OSHA determine the best way to dismantle it.

RAW: Four-Alarm Construction Site Fire Prompts Evacuations in Oakland

"I was scared," Mout Khamphou told the San Francisco Chronicle.

Khamphou said she was sitting in her car getting ready to go to work when she saw smoke coming from the building next door.

She drove away, thinking the fire wasn't bad, but called her husband who was still at home to warn him.

"I called my husband and I said, 'I saw the fire start. You have to be careful and get ready to get out.' He called me and said, 'Oh honey, the fire started getting worse and he asked where my passport and papers are. Our apartment won't be safe anymore.' I was crying a lot, I worried.''

She said she turned around and drove back to her neighborhood and found flames shooting from the building. Other evacuees told NBC Bay Area that when they went to close windows to prevent smoke from entering their homes, the glass was hot.

4-Alarm Oakland Construction Site Fire Displaces 100 People

According to White, it is too early to know what caused the fire because firefighters are still monitoring hot spots. It is only after structural engineers and Cal/OSHA have deemed the building safe that investigators with the Alameda County Arson Task Forcecan comb through the wreckage.

TheBureau of Alcohol, Tobacco, Firearms and Explosives and the California Governor's Office of Emergency Services is helping Oakland firefighters develop a plan to address the multiple hazards that are puting residents and first-responders at peril, White said.

A construction worker was of the opinion that someone may not have wanted more buildings along Auto Row, which is a hub for new developments. But that theory has not been corroborated by officials.

At a news conference, Mayor Libby Schaaf promised to offer "comfort and security" to those who were impacted by the fire as well as "relentlessly investigate" its cause.

"With a fire this size, it is miraculous that we have had no loss of loss, no injuries and nothing more than what appears to be cosmetic damage to any ancillary or surrounding structures, she said.

4-Alarm Fire Prompts Evacuations in Oakland

Meanwhile, city councilwomanLynette Gibson McElhaney, whose district includes Alta Waverly, said Oakland leaders will not take Friday's fire lightly.

"We are concerned," she said. "We will look at what the investigation will reveal in terms of whether this was human error or foul play. But I think we all have to be concerned when several hundred units of housing are taken off the market in the middle of an unprecedent housing crisis."

Schaaf agreed.

"Oakland is in the middle of a housing crisis and the loss of these valuable new units only exacerbates that problem," she said. "We are very clear that this type of development is what Oakland needs to get through this moment where rents are skyrocketing, where housing is in high demand.

"This is a loss for our city and for this region right now."

A Four-Alarm Fire Engulfed a Oakland Building

The developer reportedly had a roving security patrol at Alta Waverly, and White said confirmed the presence of security cameras in the vicinity. It remains unknown what, if any, surveillance footage was captured.

Wood Partners issued a statement Friday, in which the company's CEO Joe Keough said, "Our deepest concern goes out to those impacted by this unfortunate event. We are grateful that no injuries were sustained and we are working closely with local fire officials and investigators to identify the cause of the fire."

Fire officials told NBC Bay Area that their efforts to contain the blaze ensured that it didn't reach four homes to the east of the construction site.

The Alameda County Fire Department sent mutual aid to man Oakland's fire stations, while the city's fire department focused on the fire that quickly escalated from two to three and then four alarms.

Fires have plagued Oakland in recent months.

Last October, a five-alarm fire erupted at an apartment site under constructionnear Lake Merritt, which is under two miles from Friday's fire.

A three-alarm fire then claimed 36 lives during a December 2016 concert at the Ghost Ship warehouse, anda four-alarm fire in a West Oakland residential building killed four people in March.

People who witnessed the fire or may have any information about it are asked to call a tip line at 510-777-3333.

NBC Bay Area's Bob Redell and Pete Suratos and The Associated Press contributed to this report.

Published at 5:21 AM PDT on Jul 7, 2017 | Updated at 11:32 PM PDT on Jul 7, 2017

Continue reading here:
Four-Alarm Oakland Construction Site Fire Displaces Hundreds - NBC Bay Area

City approves $90M student housing development in downtown Orlando

The 15-story building with 600 beds would be part of a larger development called Creative Village

July 09, 2017 03:00PM

Rendering of mixed-use student housing development in Orlando

The Orlando city government approved the plan for a $90 million mixed-use student housing development in the citys downtown district.

The city approved the planned development of a 15-story building with 600 beds, a parking garage, and a restaurant and retail space on the ground floor.

Construction is expected to start this summer and to be completed by the fall of 2019.

The 15-story building also would have four floors of educational space and would serve as the home of the Walt Disney World School of Hospitality and Culinary Arts at Valencia College.

The developers, Ustler Development Inc. and KUD International LLC, plans to construct the 15-story building on the northwest corner of North Terry Avenue and West Livingston Street in Orlando.

The building would be part of a $1 billion, 68-acre development in Orlando called Creative Village, which would include apartments, hotel rooms, retail stores and offices plus a downtown campus shared by the University of Central Florida and Valencia College.

Ustler and KUD expect construction of their mixed-use student housing development to start this summer and to be completed by the fall of 2019. [Orlando Business Journal] Mike Seemuth

See the original post here:
City approves $90M student housing development in downtown Orlando - The Real Deal Magazine

Work resumes at the Electric City Apartments site at Erie Boulevard and State Street on Thursday, July 6, 2017.

Photographer: PETER R. BARBER

Work on the Electric City Apartments development is moving forward, a few months after the demolition of the Nicholaus building next door.

A half-dozen construction vehicles could be seen Thursday morning moving dirt around the construction site at the corner of Erie Boulevard and State Street. Work on the $20 million project, consisting of apartments and retail space, was halted after the Nicholaus building was deemed unstable April 1, 2016.

John Roth, CEO of Highbridge Development, the company responsible for the project, could not be reached for comment.

The apartments will be at 248 State St. and include 104luxury apartments and 9,900 square feet of ground floor retail space.

Construction ceased on the mixed-used development for more than a year while the Nicholaus building sat vacant. On April 7, a Clifton Park engineering firm notified city officials that the building had shifted and was in danger of collapsing. It was torn down later that day.

The property has spawned a number of lawsuits.

Nicholaus building owners Viroj and Malinee Chompupong first alleged prep work for the neighboring development caused their structure to become unstable, and later filed a notice of claim against the city seeking $5 million in damages for Aprils demolition, a claim the city said has no merit.

The owners of the Thai Thai Bistro, which was in the Nicholaus building and later moved to Niskayuna, are suing the city of Schenectady, the Nicholaus building owners and construction companies from the Electric City Apartments, claiming negligence and breach of contract.

More here:
Work moves forward on Electric City Apartments - The Daily Gazette