A new seating area for tenants overlooks an outdoor plaza at Sage Plaza. The building at 5151 San Felipe in the Galleria area is managed by CBRE, which worked with architecture firm PDR on the project.

A new seating area for tenants overlooks an outdoor plaza at Sage Plaza. The building at 5151 San Felipe in the Galleria area is managed by CBRE, which worked with architecture firm PDR on the project.

Photo: Katherine Feser / Houston Chronicle

A new seating area for tenants overlooks an outdoor plaza at Sage Plaza. The building at 5151 San Felipe in the Galleria area is managed by CBRE, which worked with architecture firm PDR on the project.

A new seating area for tenants overlooks an outdoor plaza at Sage Plaza. The building at 5151 San Felipe in the Galleria area is managed by CBRE, which worked with architecture firm PDR on the project.

Galleria-area building owner leverages the lobby in renovation

Sage Plaza is wrapping up a major renovation aimed at filling the 1980s-era office building with tenants who like the option of hanging out in the lobby, with or without the laptop.

CBRE, which handles both property management and leasing on behalf of New York-based property owner BlackRock, launched the $5 million project in April. With the pending departure of some key tenants, the buildings ownership and property managers began touring renovated buildings a couple of years ago to develop a plan for the 25-story building at 5151 San Felipe.

BlackRock decided to make fundamental changes to the lobby so its no longer just a place to walk through, but a destination to run into coworkers, get a change of scene or take a coffee break.

The updated building brings in elements found in Class AA buildings that are known for attracting top tenants.

If you look at 609 Main and the Bank of America Tower, how the new buildings downtown have brought in a change of use of the lobby and activated the lobby, said Jason Presley, a senior vice president with CBRE who handles office leasing. Youre going to see more and more owners do that in suburban renovations.

Workplace architecture firm PDR handled the remodeling, which brought fresh finishes in warm, neutral colors that blend with the original Texas pink granite walls and reconfigured the layout of the lobby. Because most people enter the building from the back after parking, the lobby was designed with equally welcoming entries at the back with a new security desk and the front, where visitors are greeted with a coffee bar and various seating areas. Neutral limestone flooring sets the tone for the modern look.

We wanted to make both entrances feel like they are the main entrance, said Andrew Gorman, a senior associate at PDR.

The building, which is walking distance to restaurants at Sage Plaza retail center and BLVD Place, is the latest of a number of Galleria area office buildings to receive updates. Others include the Galleria Office Towers, Galleria Place I and II across from the Galleria, One and Three Riverway, Four Oaks Place, Post Oak Central and 1800 West Loop South.

Some office space that was previously occupied by a title company was incorporated into the first-floor amenities, which include a relocated conference and training room and a dining area overlooking a previously renovated exterior plaza, and a tenant lounge.

The revamped hotel-style lobby has multiple seating options, with surfaces for laptops and charging stations throughout. The conference room can accommodate 85 people and has a wet bar for events.

The building will soon open a full-service custom-designed coffee bar.

Annual asking rents will stay at $23.50 per square foot, plus operating expenses of $12.97 per square foot for 2020, said Nina Seyyedin, a leasing agent with CBRE.

The renovation comes as the West Loop/Galleria submarket posted an 18.2 percent vacancy rate in the third quarter. That is slightly below the overall Houston area vacancy rate of 19.3 percent, according to CBRE.

Tenants at Sage Plaza include Insgroup, OTC Global Holdings and LegalEase, among others. Goodman Global and PSC, which recently merged with Hydrochem to form HydroChemPSC, are both relocating to owned facilities elsewhere in the Houston region and will leave a combined seven floors behind. TC Energy is consolidating to downtowns TC Energy Center.

The building has 21,500-square-foot floor sizes, with an opening on the ground floor for 9,000 square feet with potential for a private outdoor plaza, according to CBRE. A fitness center with showers and an outdoor plaza were added in an earlier renovation.

katherine.feser@chron.com

twitter.com/kfeser

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Galleria-area building owner leverages the lobby in renovation - Chron

We have had a real busy interim this summer and fall. Were putting the finishing touches on a few bills I will introduce on the first day. As always, my constituents gave me several great ideas for bills. The coming session starts January 8th. The constitution says the legislature will convene on the first Wednesday after the first Monday in January. This session will be a short one 60 legislative days. Right now, the end of the session is scheduled for the 23rd of April.

This session is going to be very interesting and definitely worth watching. It is Sen. Ernie Chambers last session after which he will reach his term limit (for a second time). He is one of the most prolific orators in the body, and I am certain he will have plenty to say this time.

LB 720 is a bill called the Nebraska Imagine Act which will provide business incentives. There will be a lot of debate on this measure. It replaces the Nebraska Advantage Act, which sunsets this year. I have serious concerns about this bill. It does not deliver anything for rural Nebraska. It provides incentive money for wind energy companies. Estimates show roughly $120,000 in tax incentives will be spent to create just one $40,000 a year job. The claim is that Nebraska needs bills like these to incentivize businesses to come to our high tax state. Our high income and property taxes scare away a lot of people and businesses. I am not confident that government picking winners and losers in our state economy will bring jobs or economic development into our state.

LB 289 is a bill to lower property taxes. I hope this will be one of the first bills discussed. Much has changed about this bill since last session. I believe we will all get to see whats in the new bill before Thanksgiving. I would imagine it is not as ambitious as it once was. Some oppose doing away with certain sales tax exemptions to fund it. Some oppose re-purposing the Property Tax Credit Relief Fund to fund it. Some interest groups will strongly oppose any limits placed on a schools ability to collect and spend property taxes. These circumstances make it really hard to pass a bill that delivers substantial and permanent property tax relief. I suspect the solution to this problem will ultimately lie with the people.

In a couple weeks we will move our office for the fourth time in three years to room 1101 as the Capitol remodeling and HVAC project continues. Please bear with us during this transition.

Please contact my office with any comments, questions, or concerns. Email me at tbrewer@leg.ne.gov, mail a letter to Sen. Tom Brewer, Room #1423, P.O. Box 94604, Lincoln, NE 68509, or call us at 402-471-2628.

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SEN. TOM BREWER: Putting finishing touches on bills before session starts in January - Scottsbluff Star Herald

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A project that began in 2008 for John Nagy and his wife, Carol, was finally completed this August, using products from Spancrete.

The Nagys wanted to remodel a home they had bought right off Lake Nagawicka on Mill Street. The home dated to 1842; wanting to preserve as much of it as possible, the Nagys soon realized it would require more work than they had originally anticipated.

"We started seeing how much was really needed from an engineering standpoint because of when this house was built and the number of additions that had been done to it over the last 100 plus years.It was in rough shape," said John Nagy, the CEO of Spancrete, a Waukesha-basedprecast provider. "Being in my business, there were a lot of things I couldn't consciously know are there and say, 'Here, sell it to someone else,' and feel good about it."

When the economy plummeted in 2008, the Nagys decided to let the home sit until 2012 when they re-evaluated their plans.

"We took a look at it and said, 'This house really needs a lot of work,'" Nagy said. "Over that period of time we also developed a few new products at Spancrete. So I told my wife, 'Instead of trying to do this on our own, why don't wepartner with Spancrete and make this kind of a model home of products that we have.'"

According to its website,Spancrete produces precast, prestressed concrete products that are used in commercial, industrial, institutional, residential and multifamily construction projects in theMidwestandSoutheast.The company also manufactures and sellshollow-coreextrusionmachines that are used to produce precast concrete internationally.

The Nagys gutted the house, tearingeverything down to the original stone structure.

"We built a new house using that structure," Nagy said.

A Delafield home built in 1842 was recently remodeled by John and Carol Nagy.(Photo: Submitted)

Using the original wood beams, John and Carol were set on making the home energy efficient, so they built the home using the precast concrete products. Spancrete's planks retain energy and are efficient at heating and cooling a home. The home also featuresprecast flooring with hydronic heating, which willdeliver more than 55% greater energy efficiency than traditional homes, Nagy said.

"I don't know of any houses anywhere that are similar to this sized home that are built with the level of construction," Nagy said. "There are a lot of houses with very good finishes ... but from the structural side of this, this house is extremely sophisticated on the construction means we used with the precast."

Nagy said using precast as a flooring systemand for wall panels throughout a new home build will adda level of strength, security and space to build a homethat counteracts the drawbacks of wood.

The precast products act as their own insulators. Nagy also noted the first and second floors were builtwith hydronic piping inthe precast floors to heat the home.Hydronic piping is a thin and flexible tubing that runs throughprecast panels and connects to a homes standard boiler.

The concrete, which is heated, acts like a heating pad and slowly releases it over time.

The remodeled home, which is 3,500 square feet, features an open-concept kitchen and dining room on the first floor. A wall in the sitting area and a wall in an office usedsalvaged stone from the original structure.

On the second floor, there is a master bedroom with a master bath. Also on the second floor is an additional bedroom, two bathrooms and a laundry room.

After remodeling the house, Nagy said, the experience could possibly open more doors.

"I see it as a real opportunity for Spancrete to go further into the residential market thatwe're already in and get into homes we typicallywould not have been involved in," Nagy said.

ContactEvan Frank at (262) 361-9138or evan.frank@jrn.com. Follow him on Twitter at @Evanfrank_LCP.

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Read or Share this story: https://www.jsonline.com/story/communities/lake-country/news/delafield/2019/11/11/home-built-in-1842-remodeled-to-be-more-energy-efficient/4172015002/

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The CEO of Spancrete partnered with his business to transform his 1842 Delafield home - Milwaukee Journal Sentinel

MINNETONKA Nov 17, 2019 (Thomson StreetEvents) -- Edited Transcript of Golden Entertainment Inc earnings conference call or presentation Thursday, November 7, 2019 at 10:00:00pm GMT

* Blake L. Sartini

Golden Entertainment, Inc. - Chairman of the Board & CEO

* Charles H. Protell

Golden Entertainment, Inc. - President & CFO

* Chad C. Beynon

Jefferies LLC, Research Division - MD and Senior Equity Analyst of Gaming, Lodging & Leisure

* John G. DeCree

Union Gaming Securities, LLC, Research Division - Director and Head of North America Equity & High Yield Research

* Joseph N. Jaffoni

Ladies and gentlemen, thank you for standing by, and welcome to the Q3 2019 Golden Entertainment Inc. Earnings Call. (Operator Instructions) Please be advised that today's conference is being recorded. (Operator Instructions)

I would now like to hand the conference over to your speaker today, Mr. Joe Jaffoni. Thank you. You may go ahead, sir.

Joseph N. Jaffoni, JCIR - Founder & President [2]

Thank you very much, Robert, and good afternoon, everyone. By now, everyone should have access to our third quarter 2019 earnings release, which can be found on the company's website at http://www.goldenent.com, under the Investors section.

Before we begin our formal remarks, we need to remind everyone that today's discussion will include forward-looking statements within the meaning of federal securities laws. These forward-looking statements, which are usually identified by the use of words such as will, expect, believe, anticipate, should or other similar phrases, are not guarantees of future performance. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from our corporate working statements, and therefore, you should not -- you should exercise caution in interpreting and relying on them.

We refer you to the risk factors in our recent SEC filings, including our most recent Form 10-K as updated by our subsequent quarterly reports on Form 10-Q for a more detailed discussions of the risks that could impact our future operating results and financial condition and other forward-looking statements.

During today's call, we will discuss non-GAAP financial measures, which management uses and believes are useful in evaluating the company's operating performance. These measures should not be considered in isolation or as a substitute for our financial results prepared in accordance with GAAP. A reconciliation of these measures to the most directly comparable GAAP measure is available in our third quarter 2019 earnings release.

On today's call is Blake Sartini, the company's Founder, Chairman and Chief Executive Officer; and Charles Protell, the company's President, Chief Strategy Officer and Chief Financial Officer. Charles will review the quarterly results, while Blake will review recent strategic and operating initiatives. After that, we'll open it up to your questions.

With that, it's my pleasure to turn the call over to Charles Protell. Charles?

Charles H. Protell, Golden Entertainment, Inc. - President & CFO [3]

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Thanks, Joe. Golden delivered record third quarter revenue and adjusted EBITDA as we generated growth in both our casino and distributed gaming operations. We also continue to make further progress across several growth initiatives that we will discuss after reviewing the numbers.

For the third quarter, net revenue grew 15.7% to $243.3 million, and adjusted EBITDA rose 12.9% to $43.1 million.

For our Nevada casinos, third quarter revenue was $135.5 million, up 23.1% from the prior year, while adjusted EBITDA grew 14.3% to $36 million. Growth from our Nevada casinos primarily reflects the contribution from the Edgewater and the Colorado Belle at Laughlin, partially offset by ongoing construction disruption at The Strat. While we have expected renovations to the central section of the casino floor at The Strat to be completed by the beginning of September, it did not reopen until early October. This part of the casino has nearly half the table games, making the disruption in the third quarter a bit more than we anticipated. Even with a few weeks delay to this section, we remain on track to complete the renovation of the casino by year-end.

Also in the last week of September, we had a power outage at The Strat, which led to room refunds and other lost revenue at the property.

We continue to see improved performance in areas of The Strat that we have renovated, such as the upgrades to the SkyPod, several F&B outlets and our new taproom and lounge connected to our new sports book. In addition, we are maintaining a $20 ADR premium in the hotel rooms that we have touched. We are through approximately 80% of the casino floor renovations with all our table games back at the end of October. However, we still have approximately 150 less slots on the floor than we will after the casino renovations are complete.

In addition to the casino floor remodel, we are now working on the front desk area, a new fitness center and ridesharing pickup area. We completed remodels of 130 rooms in the third quarter and expect to remodel another 126 rooms in Q4. At the end of this year, almost 900 out of 2,400 Strat hotel rooms will have been renovated within the last 3 years, including about 300 rooms renovated immediately prior to our acquisition of the property in 2017.

For our 2 new Laughlin properties, we remain on track to realize half of our target $4 million cost synergies by year-end, and we'll capture the balance in 2020. We have also seen an increased cross-play between these assets in our Aquarius property since the rollout of our new TrueRewards one-card player loyalty program.

At Rocky Gap in Maryland, revenue increased 4.6% on a year-over-year basis, while EBITDA increased about 1% to $6.2 million as competitive pressures in the region continue to cost us a bit more marketing spend to grow revenues.

For our Nevada distributed business, total revenues during the third quarter grew 5.9% to $69.4 million. Adjusted EBITDA of approximately $9 million was up 7% over the prior year, reflecting stabilized performance from our chain store locations, renegotiated rents as well as having 6 new taverns opened compared to last year.

In Montana, our distributed operations generated revenue of $18.6 million, up 18.7% year-over-year. Adjusted EBITDA for the Montana distributed business grew 19.4% to $2.4 million. Our growth in Montana is a result of new locations as well as our exclusive new games that are generating the highest win per unit in the state.

Moving to the balance sheet. We have $772 million outstanding of first lien term loans in addition to $375 million of senior unsecured notes. We continue to have no outstanding borrowings under our $200 million revolver. We ended the third quarter with cash and cash equivalents totaling $124 million, resulting in net leverage of approximately 5.6x.

Total CapEx for the quarter was $28 million, with approximately $16.6 million spent on our ongoing renovations at The Strat. Since June of 2018, we've spent approximately $70 million on the property and expect to spend approximately $20 million of additional CapEx at The Strat in Q4. All of our capital expenditures will continue to be funded with cash flow from operations.

By the end of this year, we will have spent approximately $90 million on The Strat, which will complete the majority of our planned investment in the property.

Since starting work last June, we'll have remodeled 573 rooms; completed a renovation of the main casino floor; remodeled the front desk area; built a new state-of-the-art sports book; added new F&B concepts and refreshed existing menus; remodeled the SkyPod and SkyJump experience; created a new entertainment venue on excess land; and updated exterior lighting, landscaping and other features of the property. We have no significant capital expenditures planned at The Strat for 2020 beyond additional room remodels and a few discrete projects.

We view 2020 as a year in which we will be able to operate the property with minimal construction disruption and take advantage of the many events that will drive improved citywide occupancy, such as ConAg, the NFL Draft and the Raiders.

As we look to harvest the free cash flow generation of the portfolio, we are evaluating a variety of capital allocation opportunities in 2020, including debt reduction, returning capital to shareholders and new market opportunities, particularly as it relates to expansion of our distributed gaming business.

Based on current Street estimates, we would generate more than $3.50 per share of discretionary free cash flow next year, which will position us favorably to allocate capital accretively for our shareholders.

I'll now turn the call over to Blake to provide additional color on our initiatives.

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Blake L. Sartini, Golden Entertainment, Inc. - Chairman of the Board & CEO [4]

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Thanks, Charles. I'd like to start with a review of the progress we're making for the renovations of The Strat. As Charles noted earlier, we have endured construction disruption at The Strat due to ongoing renovations across many of the property's public areas. The feedback from guests continues to be very positive.

When we acquired The Strat, we were well aware that there have not been any major reinvestment in the property since its opening in 1996. As a result, we were committed to investing wisely and with design discipline to elevate the property physically as well as operationally. By the end of this year, we will spend approximately $90 million on these renovations that are modernizing and updating the look and feel of the property. These investments are already positioning The Strat to be more relevant and appealing as the Las Vegas Strip continues its development further north.

There would be some legacy spend in 2020 but nothing significant. And we expect the total investment for The Strat, when complete, will be approximately $100 million to $110 million. This does not include adding group meeting space to the property, which we have put on hold while we operate the asset without construction disruption next year, and evaluate the property's performance and Las Vegas market conditions.

Our capital investment plan to update the property was based on the thesis of creating an environment for our customers, where we can generate a modest incremental spend from their trip. Between our hotel guests and our unique tower visitation, there are about 2.5 million unique annual visitors to The Strat. By presenting our customers with a compelling offer to stay on the property to eat, drink and play just a little longer, we will earn an attractive return on our investment.

The early benefits we are generating from our investments in The Strat are promising and include: during the third quarter, we exceeded the balance of the Las Vegas Strip in terms of year-over-year RevPAR growth; we generated the highest ever third quarter ADR for the property; and we are seeing initial signs of an improved room and rate mix, including an increase in group room nights and in direct Internet room bookings. Additional indications of our progress at The Strat include continuing to generate an additional $20 in ADR premium for our newly remodeled rooms and the success we are having with our newly opened restaurants, bars and entertainment amenities.

We have used cash flow from operations to fund all of the renovations of The Strat and have been able to operate the property effectively throughout the construction disruption.

Over the balance of this year, we are focused on completing the renovations to the main casino floor while remodeling an additional 126 rooms by year-end. We expect the work remaining on the casino floor will continue to be disruptive through year-end, and we are pushing to finish so we can move forward with the rebranding of the property.

The major citywide events that Charles spoke about earlier will undoubtedly drive more visitors to Las Vegas, which will create a favorable dynamic for existing properties, like ours.

I'd also note that The Strat sits on approximately 35 acres, with about 17 acres undeveloped along Las Vegas Boulevard. Recent M&A transactions for Las Vegas properties only further highlight that there is strong strategic demand for long-term Strip exposure and the enormous value we see in owning the real estate under The Strat as well as our other assets.

Turning to our initiatives on Laughlin. We have rationalized the labor cost of the Edgewater and Colorado Belle properties acquired earlier this year and have begun to adjust our marketing reinvestment. As we have spent more time operating these properties, we are gaining greater confidence that we can improve their operating margin from the 23% margin they were achieving at the time of the acquisition.

For reference, excluding the acquired properties, our Nevada casinos currently operate at over a 30% EBITDA margin, while our Aquarius property in Laughlin operates at close to a 40% EBITDA margin.

Moving on to our distributed gaming platform. We continue to lead the industry, operating approximately 11,000 devices across multiple jurisdictions. Our distributed business revenues and EBITDA grew at a healthy pace in the third quarter, and we see this growth continuing in future periods. By the end of this year, we will integrate our current casino TrueRewards loyalty program with our taverns and certain distributed gaming locations to create a network of more than 130 locations across Nevada. This will establish the largest location network of any players' club in the industry and be a clear differentiator for Golden.

In addition, we are accelerating our activity in jurisdictions where we believe there is an increasing potential for new legislation and expansion of existing distributed gaming operations.

In closing, we have a unique portfolio of gaming assets concentrated in Southern Nevada that are well positioned to deliver significant free cash flow in 2020 and beyond. I look forward to our future success and continuing to create value for our shareholders.

With that, operator, please open the call for questions.

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Questions and Answers

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Operator [1]

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(Operator Instructions) First question will be coming from the line of Carlo Santarelli with Deutsche Bank.

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Carlo Santarelli, Deutsche Bank AG, Research Division - Research Analyst [2]

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Guys, could you just talk a little bit about what went into the decision with respect to the 2020 plans for the [trop] -- sorry, for the start-ups? And acknowledging it was never firmly in your agenda to definitely go ahead and move forward with the group space, and you'd always said that it would be something you would reevaluate. But is it just kind of giving the asset, as it stands, a chance to breathe and see where it takes you, and then potentially revisit whether or not that money is best spent there or elsewhere? Or can you just talk us through the process?

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Blake L. Sartini, Golden Entertainment, Inc. - Chairman of the Board & CEO [3]

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Yes, Carlo. I think that's very accurate. As we look into 2020, there are a couple of variables that are becoming clearer to us. One, there's approximately 2 million square feet of convention space that will come online during some portion of 2020 in the Las Vegas market. Obviously, we want to see how that absorption takes place for that convention and meeting space. While at the same time, as I mentioned in my comments, we're seeing some positive impacts to the capital dollars that we're currently spending at the property. So the decision to hold on the CapEx on the banquet space, as you mentioned, doesn't mean it will eventually may be built. We will have a design-ready plan to implement on that mezz level when and if appropriate. In addition, I would also mention that we're exploring additional potential uses for the space, as you might imagine, including capital-light models that may be unique and attractive and would drive additional traffic to the property. And ultimately, as you mentioned, we believe by operating in a nondisruptive environment at The Strat throughout 2020, and as Charles mentioned, we can redeploy that free cash to our balance sheet, which I think offers us many options to create value for the shareholders, again, as Charles mentioned.

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Carlo Santarelli, Deutsche Bank AG, Research Division - Research Analyst [4]

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Great. That's very helpful. And then just one follow-up, if I may. On the distributed side, both in Nevada and Montana, obviously, you guys showed very healthy growth on both the revenue and EBITDA lines. Any guidance or color you could provide around what the same-store contributions were to growth and kind of the split between the incremental unit adds year-over-year relative to kind of same-store organic growth?

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Charles H. Protell, Golden Entertainment, Inc. - President & CFO [5]

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Yes. I mean we don't typically break that out. I mean I think we're over 40% of the market here in Nevada, so the portfolio ebbs and flows with over 700 locations. So we'll lose a few and we'll add a few. In Montana, it's very similar with about 300 locations that are there. We were net additive in Montana. A lot of the growth out in Montana coming out of not only new additions of new locations, but we do have a proprietary exclusive game, exclusive to Golden, in our partner locations that is earning about 2x the state average in terms of win per unit. So that is a big driver of revenue growth for us within that state.

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Operator [6]

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Next question will be coming from the line of Chad Beynon with Macquarie.

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Chad C. Beynon, Macquarie Research - Head of US Consumer, SVP and Senior Analyst [7]

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Back on The Strat CapEx reduction from, I guess, the $140 million master plan to your now projected $100 million to $110 million. Has the return profile of 15% changed at all given that some of the amenities, particularly on the mezz level won't be there? Or do you still think a 15% cash-on-cash return is kind of in your crosshairs?

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Charles H. Protell, Golden Entertainment, Inc. - President & CFO [8]

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Absolutely. We're looking at that over time, and we expect to make progress on that next year. Obviously, we're deploying this capital with the expectation we will earn a return. As Blake said in his comments, our thesis is pretty simple. We're not trying to completely to transform the property, to compete with the most highest end properties on The Strip. We already have 2.5 million unique visitors to the asset each and every year between our hotel guests and our unique tower visitors. You can do the math. If you just get another $20 out of each one of those patrons at a reasonable flow through, that's how we're thinking about it. How do we have someone come to our asset and not use it anymore as a dormitory, use it where they like to actually stay in play, eat at the restaurants, play in the casino and go see a show and enjoy the tower experience, which is very unique to Las Vegas.

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Blake L. Sartini, Golden Entertainment, Inc. - Chairman of the Board & CEO [9]

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I think, Chad, just quickly too, this CapEx time out of The Strat, once we're complete with the projects we just discussed, will obviously allow us to fine-tune our operating approach to the property to deliver the returns that we're anticipating. And I think that's going to be -- it's going to be very helpful without a disruptive environment over there.

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Chad C. Beynon, Macquarie Research - Head of US Consumer, SVP and Senior Analyst [10]

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Okay, makes sense. And then on the excess cash that you'll have from not spending it on the property in 2020, how do you think about risk-adjusted returns? Charles, you mentioned your stocks, free cash flow yield, which is attractive. You guys have been successful in land-based acquisitions, obviously, on the tavern side. So how do you just think about, I guess, from a risk-adjusted standpoint, how you can deploy your capital in the best way for shareholders?

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Edited Transcript of GDEN earnings conference call or presentation 7-Nov-19 10:00pm GMT - Yahoo Finance

The City of Opelika has partnered with East Alabama Medical Center and Auburn University to provide health care to underserved parts of the Opelika community.

The city is providing a bus and retrofitting it to serve as a medical resource. EAMC will provide medical services from the bus.

The Tiger Transit Company donated the bus, said Joey Motley, Opelika city administrator. The city has raised contributions from local churches and organizations to retrofit the bus into a mobile clinic.

Remodeling the bus will cost about $200,000, and it will be leased to the EAMC for $1 per year. The City of Opelika will provide the bus, maintenance and a driver, Motley said.

Weve had buy-in from Sunday school classes with a few hundred dollars, to the two dollars [individual donations], to the large donations from foundations, Motley said.

Many different organizations have donated. The Housing Authority gave $60,000, the Opelika Rotary Club gave $35,000, Golden State Foods gave $25,000, BVA Bank gave $10,000 and Auburn Bank gave $10,000, Motley said.

The bus is undergoing renovations in Greensboro, North Carolina, and should be in operation in the spring, Motley said.

The bus will have a generator, two exam areas with full exam tables, an office, a rest-room and storage space. Caregivers will be able to perform basic health-care services inside the bus.

Many of the details are still being ironed out, but we hope to be operational by late spring of 2020, said Michael Barlow, population health manager at EAMC. We will equip it and staff it for the perceived needs of the community, but these services could evolve over time.

This project is similar to one in Gainesville, Florida, in which the city partnered with the University of Florida College of Medicine to create a bus that serves a similar purpose.

We have a site visit to [Gainesville], Florida in a few weeks where we have heard great things about a mobile bus system they have in place, said Michael Barlow, population health manager with EAMC. We hope to glean some ideas from them on how best to be effective and efficient while providing high-quality compassionate health care.

EAMCs first priority is to cover underserved areas, Barlow said. They will look to expand covered areas and provide relevant services to better provide for the community.

It will be free if you dont have any [insurance] coverage, Motley said. Of course, if you have insurance, theyll take an insurance card, but if you dont have insurance, you can go to the clinic and get treatment.

The bus is expected to serve Wards 1 and 2 in Opelika, though coverage can change and expand. When looking for places to expand, the city will look to include areas that have problems with transportation, low income or similar issues, Motley said.

You can try to improve the quality of life of citizens, and this is a very needed service in certain areas of our city, Motley said. [The fact] we were able to do it without any taxpayers dollars being involved speaks volumes for the kind of community that we have.

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Healthcare to hit the road in Opelika with renovated clinic bus - The Auburn Plainsman

When wedding-cake designer Caroline Goulding and her husband bought number 19 Charleston Avenue, a Victorian redbrick terraced house, at the far end of a quiet cul-de-sac off Charleston Road in Ranelagh it had been sub-divided into two flats and was in need of complete modernisation.

Its design was a process of discovery, Goulding says, full of colour and texture, not dissimilar to the sugarcraft finishes she adorns her confections with. (One of Gouldings most high profile creations in recent times was for an unnamed world class Irish golfer. A stone-effect design that was iced in washes of concrete grey, the result of experimenting with drying out fondant to create a cracking effect.)

The couple bought the listed house in December 2012, paying 425,000 for it, according to the Property Price Register, and spent much of early 2013 doing the hard manual labour themselves, stripping the walls of its layers of wallpaper and then replastering the entire interior afterwards. They even did the demolition work themselves, taking sledgehammers to the small lean-to kitchen to the rear after the builder had first removed the roof.

Just two of the rooms had radiators at the time so the couple pretty much lived in their front room as the back of the house underwent complete remodeling. They spent about two weeks coming in after a days work to labour on the house and Goulding recalls having the builder reconnect the oven so they could cook at night.

It was hard to see past it but we got through it and were still together, she says. No mean feat.

Now measuring 148sq m/1,600sq ft, the four-bedroom property is a refreshing mix of rustic and industrial with its simple coving repaired where necessary and its soaring ceiling heights of over 3.1m making it feel more expansive that it actually is.

The property opens into a fine hall with arch and an encaustic-style tile underfoot. They installed a new fire surround in the living room, investing in a large, free-standing Nordpeis stove that sits on a polished black granite hearth and is surrounded by exposed redbrick. They retained the single glaze sash windows to the front and painted the walls in Farrow & Balls Manor House grey.

The stairs is hidden from view around the corner and what was originally a small sitting room has been subdivided into a roomy utility accessed from the hall and an open shelved pantry, accessed from the kitchen.

Goulding loved the bare brick that they discovered during the demolition and retained it, painting the original chimneybreast area in a soft white while the surrounding walls and shelving are finished in Farrow & Balls Railings to picture rail level

The propertys heart is its open-plan kitchen, set to the rear of this large square living-cum-dining room that boasts the same lofty ceiling heights as the rest of the house and a pair of timber sash windows set above the Belfast sink. These help to wash the room in lovely southwesterly light.

Theres a vintage butchers block (that the couple sourced from Wilsons Yard salvage specialists near Lisburn), a pantry with shallow, easy-to-access shelves that reach to the ceiling and marble-effect laminate countertops and flooring. Hague Blue units with black D-ring handles cover the walls and high shelving at picture rail level, all combine to successfully evoke the propertys Victorian origins.

The dining area overlooks the garden, which is finished in artificial grass and surrounded with a high timber fence painted a soft sage green. Metal floor grilles salvaged from a church front the radiator cabinets and radiate heat far more efficiently than the usual timber surrounds.

Upstairs there are four bedrooms, three good doubles and a large single or study with a small shower room hived off the original landing. There is a small second bathroom set under the stairs where they managed to fit a free-standing bath.

The period property is Ber-exempt (though new owners are likely to seek to improve its efficiency) and seeking 950,000 through agents Sherry FitzGerald.

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Ranelagh terrace refurb is the icing on the cake for 950k - The Irish Times

A collaboration with The Boston GlobesHelp Desk:

The kitchen counter is where the action is, the reliable platform upon which we build everything from school lunches to Thanksgiving dinner. Doused with errant splashes of coffee and wine, splattered with olive oil and other cooking shrapnel, kitchen counters pay their dues and look good doing it. They form the visual and functional foundation of the hardest-working room in your house so when its time to replace them, you want to choose the right surface.

And thats not an easy decision to make. There are more options than ever, and there isnt a single best countertop surface, said Sue Booth, owner and senior designer at Vintage Kitchens in Concord, N.H. Just like when youre picking anything else in your life, you have to pick the materials that suit your temperament, that suit your aesthetic, and suit your lifestyle, she said. It doesnt mean the others arent good; it just means theres one thats best for you.

Ninety-three percent of homeowners who remodel their kitchen update their countertops, according to Houzzs 2019 Kitchen Trends Study, which surveyed 1,337 homeowners on their recent or current kitchen remodeling projects. And for the first time in the annual study, the use of engineered quartz eclipsed all natural stones combined. The low-maintenance, man-made blend of crushed quartz, pigments, and resins was the surface of choice for 48 percent of new countertops, up from 41 percent in 2017.

Natural stones accounted for 43 percent of countertop upgrades in the survey: Granite got the nod for 30 percent of new counters, down from 40 percent in 2017, while quartzite, marble, and soapstone were other popular choices.

Brian Spellman, director of stone operations at Metropolitan Cabinets and Countertops in Norwood, has seen those preferences play out in the marketplace. We sell much less granite than we used to, Spellman said. While its probably the most durable material, he added, its losing popularity because its considered busy by many consumers who want a simpler look.

Spellman has seen a real trend toward engineered quartz counters, but even some natural stone buyers are looking beyond granite. As kitchens have evolved into the focal point of the home, people are investing more into high-end materials, Spellman said. Even if they choose engineered stone for the perimeter of the kitchen, he added, homeowners might use a natural marble or quartzite as a dramatic accent. Islands are now wow factors in the home.

Trends aside, what kind of countertop should you consider for your kitchen? A lot of it comes down to personal aesthetics. Booth admitted that shes biased toward the look of natural stone, such as granite or soapstone. But many of Booths clients are asking for engineered quartz. Theyve been told everywhere that its better than anything else, she said. Booth educates clients on each materials merits. If they love the aesthetic [of quartz], then its not my place to try to convince them otherwise, she added, but most of the time, if the motivation is that they want it because its easier than granite, thats an easy thing for me to talk to them about.

Booth says granite isnt as high maintenance as people fear. Like any porous stone, it needs a quick coat of sealant once in a while so it wont absorb stains. Just let the counter tell you what it needs, Booth said. Itll start to look different, itll start to behave a little differently you might not be able to wipe it up quite so easily, water wont bead up on it and when that happens, its time to give it a good cleaning and seal it again.

For those who find that meager maintenance daunting, engineered quartz behaves more like a care-free Corian counter, but with sparkly stone highlights. With the quartz material, you really dont have a lot of maintenance; you dont have to seal it, Booth said.

However, because most engineered stone has a polyester or acrylic binder holding everything together, its smart to keep a trivet nearby for hot pots and pans, which you dont need to worry about with natural stones.

Another advantage of engineered quartz is the consistency between showroom and reality. Every piece of natural stone is unique, which means its crucial to visit a distributor and select a slab in person. You really do walk the stacks like youre at the library to pick out a book, Booth said.

There are granites that have tight particulates, like Stanstead Gray thats a very tight-grained granite, Booth said. Others have more movement, with dramatic, vibrant veins. Some of them look like they should hang on a wall; they look like a piece of abstract art. If the slab you want is available, youll reserve it and have it shipped to your fabricator, who will take care of templating and installation.

Youll also need to choose a finish. Most stone slabs you see are polished for a shiny, high-gloss finish, Booth said. Honing, on the other hand, produces a more matte appearance. I tend to like [a honed finish] in an old house. Its a little more subtle, Booth said. A third option is a textured finish, often called antiqued or leathered stones, whose water jet-roughened surface can create a more rustic look.

Booth is even more fond of the soft gray look and feel of soapstone. I think its exquisitely beautiful, she said. Like granite, soapstone is highly heat resistant, but its nonporous nature makes it more resistant to stains.

Soapstone is also warmer to the touch than other cold stone slabs, with an almost silky feel but its soft enough to suffer dents under vigorous wear. If you slide a pottery dish across your soapstone counter, you will see scratches, Booth said. You can remove those scratches or you can choose to live with them, but if the idea of those scratches is an issue for you, you might want to reconsider soapstone.

Its still not as soft as marble, however. Booth said she doesnt use marble in a kitchen unless clients ask for it specifically and even then, she sends them home with a sample to make sure they understand its fragility. When its polished and you put anything acidic on it, it will take the polish off, she said whats known as etching. Hard, iron-rich water can stain the surface over time, and marble can also bruise from a forceful impact, leaving a white bloom that wont go away.

One reason quartz is so popular is that it can look an awful lot like white marble, without being as finicky. If someone wants a marble in their kitchen, and we can put an engineered stone in that looks like marble, I know theyre going to be happier with that, Booth said.

When her niece wanted to get Carrara marble counters for her kitchen, Booth sent her home with a 12-inch-square sample to place in her kitchens busiest spot an exercise that changed her nieces mind. We found an engineered stone that was visually appealing that will hold up to her childrens coloring and activities and enthusiastic participation in cooking, Booth said. She was smart enough to realize that, I know I could do all of that on Carrara marble, but I would be neurotic about it the whole time.

Engineered and natural stones and, for that matter, solid-surface acrylics like Corian are all in the mid-to-high price range. You can get new counters for a few thousand dollars using a low-priced granite or spend tens of thousands using a high-priced marble, Spellman said. Most of our customers spend between $4,000 and $10,000 for new counters.

At the more affordable end, wood or bamboo butcher block offers a warmer alternative to stone that can be cut and installed by a homeowner using regular tools. Unless the surface is treated with a food-safe varnish, butcher block requires regular oiling to keep the wood moisturized. If it dries out, all those glue joints start to separate, and you get staining, Booth said. Its vulnerable to burns, nicks, and stains, but they can be sanded out in the same way you might refinish hardwood floors. If you maintain it, it should last a long time for you. Itll be a beautiful counter.

And sometimes an attractive, durable laminate countertop (think Formica) is all a kitchen needs. Booth recalls a client whose budget constraints meant choosing between premium countertops and warm wood floors. I really wanted them to put an antique heart pine floor in that part of their house, because it was perfect for their house. And I said: Why not just wait and not do soapstone right now? Lets just put in a nice Formica counter for now, and Ill see you in five years, Booth said. The homeowner finally got his soapstone counters seven years later but he was pleased with the Formica in the interim, not to mention the floor he could afford because of it. The floor is a much more long-term, harder-to-change choice than a laminate countertop.

Like butcher block, laminate counters are DIY-friendly and can be installed with regular tools, but they are not heat-resistant, and can develop adhesion problems around the sink or seams.

There are myriad other materials you can use, some more niche than others. They include pricier stones like slate or serpentine, metals like stainless steel or copper, recycled paper or glass, durable porcelain slabs, or DIY tiles. Booth said concrete is more popular on the West Coast, and offers striking possibilities in the hands of a good fabricator. You can make any color, you can change texture, you can put things in it, she said.

To settle on the right material, Booth said, you need to evaluate how you live in your kitchen and balance that with your sense of style, tolerance for maintenance, and budget. What youre trying to do is understand how a material functions and whether that function is the best for your lifestyle, Booth said.

Jon Gorey blogs about homes atHouseandHammer.com. Send comments tojongorey@gmail.com. Follow him on Twitter at@jongorey. Subscribe to our free real estate newsletter atpages.email.bostonglobe.com/AddressSignUp.

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Your Help Desk guide to picking the right kitchen counters - Boston.com

The oldest house in Pittsburgh is about to become its newest restaurant.

The Woods House Historic Pub, on Monongahela Street in a residential section of Hazelwood, is slated to open this spring. Its a place where folks can get a hearty meal, a nice scotch and a history lesson.

Photo courtesy of The Woods House Historic Pub.

Believed to have been built in 1792 by Col. George Woods, the surveyor who laid out Pittsburghs Golden Triangle, the stone structure was home to generations of his family, starting with his son, John Woods.

Abandoned for more than 30 years, it was condemned and slated for demolition. Community groups rallied to save it. Thanks to their grassroots efforts, it was added to the National Register of Historic Places in 1993.

The Urban Redevelopment Authority of Pittsburgh (URA) bought the site in 2001, replacing the roof and boarding up the windows. Five years later, the URA released a Request for Proposal for the structures redevelopment.

Chris Waraks, owner of the local remodeling company, Mr. Renovation, saw potential in the old building. Unlike a lot of landmarks in the area, it didnt boast a sign indicating it was anything other than an eyesore.

Photo courtesy of The Woods House Historic Pub.

Its a forgotten jewel, says Krish Pandya, a former vice president at Alcoa, who is handling the financial side of the project. The community wanted to preserve it as a museum, but it needed a business aspect to it. The amount of money involved and the number of hoops you have to jump through is tremendous. But, he noted, we wanted to find a way to give this back to the community so they could use it.

Waraks and Pandya, along with friend and business partner Bob Sobocinski, worked for three years to get their plans approved by the City of Pittsburghs Historic Review Commission, the Pennsylvania Historical and Museum Commissionand the National Park Service.

Photo courtesy of The Woods House Historic Pub.

They closed on the property in December 2018, crediting City Councilman Corey OConnor with rallying local residents and lawmakers to support the endeavor.

The original house is only 32 feet by 22 feet, so they built an addition that is 20 feet by 24 feet. The exterior of the new section is clad with wood made to look timeworn.

From the trim to the ceiling beams, they maintained as much of the original character as possible.

The first floor will boast a dining room and bar area (beer taps will be hidden in the fireplace mantel), as well as a back porch, kitchen and restrooms. Part of the ceiling will be open, giving patrons a view right up to the rafters.

Rendering courtesy of The Woods House Historic Pub.

The downstairs features a walk-in cooler and a food prep area, restrooms and the pub, which Waraks describes as the heart and soul of the structure. Thick walls, a mix of sandstone and limestone, and an enormous fireplace give the space an almost medieval ambiance.

A back door leads to a patio area, which was originally the front of the house. Patrons will be able to see the Monongahela River, Hazelwood Green and the Pittsburgh skyline from this vantage point.

In total, Woods House will be able to seat about 70 customers.

The menu will pay tribute to the Woods familys Scottish heritage, featuring traditional pub food with modern flair and flavor. Woods House is partnering with nearby Community Kitchen Pittsburgh, a nonprofit organizationthat provides culinary arts training to disenfranchised people while helping them find stable employment in the food service industry.

Sobocinski, who built a career in the fine dining scene before moving into construction, says the bar will be well-stocked with a variety of scotch, bourbon and whiskey. Woods House also will have its own Scottish red ale created by a local brewery.

We want to build a traditional pub culture in Pittsburgh, Sobocinski says. Its a family place where you can take your kids. We want everyone to feel comfortable here.

community kitchen pittsburghHazelwoodHazelwood GreenThe Woods House Historic Pub

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The Woods House Historic Pub is opening in the oldest house in Pittsburgh - NEXTpittsburgh

3 months work in 22 minutes! For a more in depth look at this project, check out my 8 part series below...

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Project breakdown -

I rip out all of the old wood paneling sheets and tile ceiling.Ep 1 - https://youtu.be/Mf1BmgeJKG0

Remove the old sheetrock Ep 2 - https://youtu.be/1gHeC8s_3QY

Install a beam and rip down a wall to expand the bedroom a little.Ep 3 - https://youtu.be/ucu5KpIk--w

Start framing the built-in shelving, bust down a wall to make a door, install new windows, insulate and hang the sheetrock. Ep 4 - https://youtu.be/4Ug0B37xDOo

Finish of the sheetrock by doing the metal corner bead, drywall tape and 3 coats of mudd.Ep 5 - https://youtu.be/8g4m7b6aUuM

Electrical and patch some hardwood floor, start the built-in drawers and sand the sheetrock mudd!Ep 6 - https://youtu.be/QZWkdlTOtJY

Install all of the trim, finish the built-ins and paint everything!Ep 7 - https://youtu.be/96kaG79ldXM

Sanding and refinishing the hardwood floors.Ep 8 - https://youtu.be/0QvXEpzOg6Y

Room Fully Furnished and Decoratedhttps://youtu.be/sYnl8guS0ig

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Bedroom Remodel Time-Lapse 3 Months Work In 22 Minutes ...

Plan your remodel carefully to minimize surprises.

Remodeling is a fine way to refresh a rooms look or to update dated elements like insulation and plumbing. Ranging in scope and difficulty from simply adding a new coat of paint, to tearing out the old walls and bringing the electrical components up to code, a successful room remodel follows some standard steps.

The planning phase of a room remodeling project is crucial. It narrows project goals, while establishing a timetable and keeping a budget in mind. The timetable is especially important when the project involves a kitchen. A few weeks of eating out gets expensive. This phase also includes prioritizing needs and desires, soliciting estimates from contractors, consulting an engineer if the project involves structural reconfiguration, and taking out a permit, if necessary.

For limited room remodeling that involves things like new carpeting, the demolition stage is typically simple; just remove the old carpeting. Larger projects that involve cabinet removal or tearing out walls can require extensive demolition. The caveat is to avoid removing any wall unless it is a partition, or non-load bearing wall, or unless an engineer makes provisions for weight load transfer before removing a load-bearing wall. If youre remodeling a room in an older home, the demolition stage might include removing old drywall or plaster and lath in order to run new wiring and upgraded insulation. The general rule is to remove everything unwanted during the demolition stage.

Framing follows the demolition stage. If you didnt tear anything out and youre not adding walls or built-ins, you can skip this step. The framing stage includes constructing new walls, framing openings for new windows or doors, and reinforcing floor joists. It could also include extending rafter width in an attic for insulation purposes if youre finishing a loft. If your project requires framing, this is the time to do it.

The mechanical stage includes the installation of new wiring, plumbing and ductwork. Not all room remodels call for this step, but if yours does, the time to do it is after the framing is complete. Depending on the extent and difficulty of the work, you might be able to do some or all of it by yourself. Check with your building authority for restrictions before tackling this step on your own.

If yours is an older house, it could have substandard insulation. This is the time to add new insulation in exterior walls for energy efficiency, or in interior walls for sound dampening. While walls are open, you can fit batt or roll insulation in stud and joist spaces.

The next step is to install new drywall panels and finish them with drywall tape and mud to create smooth walls. If youre installing new panels on the walls and on the ceiling, the best method is to hang the ceiling drywall first and the walls last. Applying joint compound is a task many homeowners can complete. But it requires practice to apply multiple thin coats of compound successfully and sand them smooth enough to create professional-looking walls.

After taping and filling drywall seams, its time to add the finish elements that will bring the whole project together. This includes setting cabinets, painting, trimming windows and doors, running baseboard and installing new fixtures. The last step is usually the installation of new flooring. When you follow the basic step guidelines, each phase leads to the next and the remodeling project flows without major interruptions.

Glenda Taylor is a contractor and a full-time writer specializing in construction writing. She also enjoys writing business and finance, food and drink and pet-related articles. Her education includes marketing and a bachelor's degree in journalism from the University of Kansas.

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Steps to Remodeling a Room | Home Guides | SF Gate