A live 90-minute CLE video webinar with interactive Q&A
In this Strafford CLE webinar, Cohen Seglias attorney Matt Skaroff and Robert C. Carlson of Koeller Nebeker Carlson Haluck will advise construction counsel on the unique issues related to high-end residential construction. They will discuss the issues with delayed permitting and acquiring proper insurance, as well as hiring both an architect and general contractor that meets the project’s needs. Matt and Robert will address what specifics should be in the construction contract and when an owner should consider hiring a representative to act as their “eyes and ears” on a project.
Description
Despite rising inflation, escalating material and construction costs, supply chain delays, and general market uncertainty, the high-end residential construction market continues to experience record growth. Median home prices in the U.S. now approach $500,000 and the number of $10 million homes doubled in 2021. Much like other sectors of the economy, high-end owners are likely to face substantial delay issues during construction. Issues ranging from permitting in desirable locations to climate issues to construction management can trigger issues when completing a project. Due to some of these issues, the ability to obtain insurance can be cost-prohibitive.
As with any project, but particularly with high-end construction, hiring the right general contractor with the appropriate experience is equally essential. Considerations should be given to prior projects the contractor has completed in the locale of the project, the depth and experience of the team members who will be performing the work, and the proposed project management. Owners should also consider whether to retain an owner’s representative, who can assist in the review of the schedule as it progresses and offer suggestions for maintaining or expediting schedules.