Barcelona & Verona Park Condominium

Developed by Triangle Development Associates II, LLC, including Ernest Marcus as member and co-project manager.

63 apartments total, 2 buildings within close proximity
Awarded project after public competition by quasi-public D.C. agency
Acquisition/Construction financing
Management of design process for new construction in dense, urban neighborhood
Extensive construction and design related issues required careful management
Major flood due to pipe leak required 9 month delay – insurance claim management, construction cleanup and rehab oversight, negotiation with existing buyers.
Due to changes in market conditions and delay due to flood (see above), careful management of existing buyers and re-marketing of many units.
Management of punchlist issues including negotiation of settlement agreements with resident associations.
Construction affiliate performed analyses of building punchlist and warranty issues, including reviews of third party reports. Performed corrective action through coordination with subcontractors.