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12C — June 27 - July 10, 2014 — Mid-Year Review — 1 -( % 80%28-'
Real Estate Journal
C ONSTRUCTION By Paul Kraunelis, Harkins Builders Harkins Builders PA Division at 15: Looking Forward
F ifteen years ago we were DOO SODQQLQJ IRU <. WKH 'RZ -RQHV ,QGXV -
DQG VNLOOHG QXUVLQJ IDFLOLWLHV rebound and continue to gain PRPHQWXP ,Q RXU UHJLRQ LQGXVWULDO DQG PDQXIDFWXU - LQJ GHYHORSPHQWV DUH DOVR VWDUWLQJ WR UHVXUIDFH EXWZH IHHOWKLVPDUNHWZLOOQRWKDYH DV RYHUZKHOPLQJ DQ LPSDFW DV WKH PXOWLIDPLO\ PDUNHW +RZHYHUWKHSRWHQWLDOZRUN - IRUFHLQWKHDUHDZLOOJURZDQG continue to be a major factor. 1HZVWDUWVLQRIÀFHEXLOGLQJV ZLOO EH OLJKW EXW ODUJHVFDOH renovations of existing of- ILFHV ZLOO FRQWLQXH WR JURZ Mixed-use projects in urban FRUHV ZLOO EH WKH GDUOLQJV RI
WKHPDUNHWDVORQJDVSURSHU SODQQLQJ IRU SDUNLQJ FDQ EH addressed. $V WKLV QHZ GHYHORSPHQW DFWLYLW\SLFNVEDFNXSDQGDV OHQGHUV KDYH JRWWHQ XVHG WR QHZUHJXODWLRQVZHDUHVWDUW - ing to see more projects come RQ OLQH $V EXLOGHUV ZH DUH VHHLQJFHUWDLQPDUNHWIDFWRUV WKDWDOORZQHUVDQGGHYHORSHUV QHHGWREHDZDUHRILQFOXGLQJ 6NLOOHG ODERU LV KDUG WR FRPHE\2YHUWKHSDVWVHYHUDO \HDUVRIUHFHVVLRQVXEFRQWUDF - WRUV WKDW KDYH QRW DFWXDOO\ gone out of business have re- duced staff to their core peo-
SOHVRQRZWKHUHLVQRWHQRXJK FDSDFLW\ IRU WKHZRUN WKDW LV RXWWKHUH/DERUUDWHVDUHULV - LQJDVZHOODVVXEFRQWUDFWRU PDUJLQV +DUNLQV LV XVLQJ D design-assist approach where ZHDUHPDNLQJDZDUGVXSWRD year in advance to some of the NH\ VXEFRQWUDFWRUV WR PDNH VXUH WKH\ DUH DYDLODEOH DQG KDYHWKHODERUZKHQZHDFWX - DOO\VWDUWFRQVWUXFWLRQ :HKDYHWRPDQDJHVXS - SOLHUV´-XVWLQWLPHµPDWHULDO RUGHULQJ DQG VXSSO\ KRXVHV WKDWGRQRWVWRFNSURGXFWDUH PRUHSUHYDOHQW5DZPDWHULDO FRVWV DUH JRLQJ XS SODFLQJ KLJKHU GHPDQGV RQ VXSSO\ KRXVHV 3URSHU SODQQLQJ RI PDWHULDORUGHUVLVFULWLFDO $VWKHPDUNHWFRQWLQXHVLWV UHVXUJHQFH ZH IHHO SRVLWLYH about the activity in our re- JLRQ:HDUHUHVSRQGLQJWRWKH QHZGHPDQGVRIWKHPDUNHWV and we continue to be a cre- DWLYHVWDEOHDQGYDOXDEOHUH - VRXUFHIRURXUFOLHQWV:HDUH EHFRPLQJHQJDJHGHDUOLHUDQG ZHHQVXUHDOHYHORIWUDQVSDU - HQF\WRKHOSFRQWUROFRVWV7KH SURMHFWVWKDWZLOOEHVXFFHVVIXO LQWKHIXWXUHZLOOKDYHDJRRG LGHDDJRRGSODQDJRRGWHDP and a good process. Paul Kraunelis is the re- gional manager of business development at Hsrkins Builders in Media, PA.
3HQQV\OYDQLD 1HZ -HUVH\ DQG'HODZDUHIRUDIHZ\HDUV WKHWLPHZDVULJKWWRSODQWD ÁDJ DQG HVWDEOLVK RXU SUHV - HQFH 2YHU WKHVH \HDUV +DUNLQV· 3HQQV\OYDQLD 'LYL - sion has grown to manage $30 PLOOLRQLQQHZZRUNDQ - QXDOO\:HDUHWDNLQJDOLWWOH WLPHWKLV\HDUWRFHOHEUDWHRXU VXFFHVVEXWZHDUHDOVRORRN - ing ahead. 2XUUHJLRQOLNHPRVWRIWKH FRXQWU\LVULGLQJWKHZDYHRI WKH KRW PXOWLIDPLO\ PDUNHW DQG ZH WKLQN WKDW WKLV UXQ ZLOOODVWDIHZPRUH\HDUV:H KDYH VHHQ WKH VHQLRUPDUNHW
WULDO $YHU - DJH F O RVHG a b o v e t h e PDUN for the first W LPH D QG 7KH 6RSUD - nos debuted RQ+%2 1999 was
Paul Kraunelis
DOVR WKH \HDU WKDW Harkins Builders set up our perma- QHQWRIÀFHLQ0HGLD3$MXVW RXWVLGHRI3KLODGHOSKLD$IWHU venturing into Southeastern
BALT IMORE / WASHINGTON / PHI LADELPHI A
Mid-Year Review
a section of the 1MH%XPERXMG Real Estate Journal P.O. Box 26, Accord, MA 02018 fax 781-871-5299 www.marejournal.com Section Editor Julie King
Joint Armed Forces Reserve Center, New Castle DE
Celebrating
15 Years of Excellence in Southeastern Pennsylvania Completion of Joint Armed Forces Reserve Center, New Castle DE Construction at Parc Plymouth Meeting for Toll Brothers Apartment Living
^ COMMERCIAL ^ MIXED USE ^ MULTIFAMILY ^ HEALTHCARE ^ STUDENT HOUSING ^ SENIOR LIVING ^ MILITARY
www.harkinsbuilders.com
410.750.2600
2201 Warwick Way, Marriottsville, MD | 610 East Baltimore Pike, Media, PA | 7927 Jones Branch Dr., Tysons Corner, VA
editor@marejournal.com
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