For many contractors working in the Mid-Atlantic region, 2009 represented another year of depressed market opportunities. And the pace of new project starts was certainly down overall. View Top Projects Slideshow At the same time, however, a solid number of major projects moved forward during the previous year. Mid-Atlantic Construction�s annual Top Project Starts ranking highlights the top 25 contracts, by construction contract value, that broke ground during 2009. This year, this ranking is slightly different from the past. Instead of separate rankings by state or region, we�ve presented this year�s list in a single grouping that represents the entire
The Pennsylvania Convention Center, which opened in 1993 in the heart of City Center Philadelphia, lived up to its promise of attracting more convention business to the city and prompting economic growth. The additional convention business in turn prompted hotel construction and economic development projects in the surrounding region and made the area surrounding the Pennsylvania Convention Center its own activity hub. However, demand soon outgrew the convention space in the 1.3 million-sq-ft facility, and city officials wanted that convention center hub to connect to the rest of the city. So in 2008, the Pennsylvania Convention Center Authority undertook an
After years of a development boom that brought billions of dollars in work to the region, the economic downturn hit hard in Philadelphia and eastern Pennsylvania. The recession, coupled with limited access to financing, all but dried up opportunities in 2009. Even the area�s colleges, universities and health-care facilities, which typically buzz with activity, dulled to a low hum. Tough times have continued through 2010, although some see a glimmer of hope on the horizon. �The best I can say is that there�s a lot more chatter in the industry today than last year,� says Greg Stewart, executive vice president
At a time when many firms branched into new markets, Bozzuto Construction of Greenbelt, Md., stayed with what it knows best: multifamily residential with a retail component in the Baltimore, District of Columbia and Philadelphia metropolitan and suburban markets. Revenues for 2009 stood at $170 million, up from $143.75 million in 2008. Related Links: Top Contractors Clark Construction Group Grunley Construction Co. Mid Eastern Builders Daniel J. Keating Co. Oak Contracting Hill International Top Contractors List “We focused on deals that we knew had a high chance of closing, whether it be a deal with a loan from U.S. Housing
If tough economic times test a company’s mettle, then Clark Construction Group can expect to remain a steadfast market leader for years to come. As the financial world breakdown continued and more new development opportunities eroded in 2009, the Bethesda, Md.-based contractor banked on a solid backlog of multi-year megaprojects and took in a record-setting $2.9 billion in regional revenue. Slide Show In the fall, Clark began construction on the $435-million 1.2-million-sq-ft U.S. Coast Guard Headquarters in Washington, which is partially funded through the American Recovery and Reinvestment Act. Related Links: Top Contractors Grunley Construction Co. Mid Eastern Builders Daniel
The Base Realignment and Closure Act of 2005 has been a lifeline for some Virginia contractors during a recession that has driven many other sectors to a near-standstill. But with less than 18 months remaining before the mandated Sept. 15, 2011, deadline for completing BRAC, contractors are coming down to crunch time. W.M. Jordan Co. is building the second phase of the Ordnance School Central Campus project at Fort Lee, Va., one of the last components in the Army’s multibillion “Home of Ordnance” initiative at Fort Lee. Related Links: Focus on Virginia To minimize operational disruptions and maintain readiness across
Ironically, a job with only two bidders helped Daniel J. Keating Co. of Narberth, Pa., survive 2009 with no layoff s and $172 million in revenue. Daniel J. Keating teamed up with the Keating Building Corp. of Philadelphia on a $500-million expansion to the Pennsylvania Convention Center in Philadelphia. It’s keeping both firms and their subcontractors busy during a rough economy, and it’s not scheduled for completion until 2011. Related Links: Top Contractors Clark Construction Group Grunley Construction Co. Mid Eastern Builders Bozzuto Construction Co. Oak Contracting Hill International Top Contractors List Also in 2009, the company continued work on
Despite a recession that put a stranglehold on private development, some Virginia contractors continue to breathe easier thanks to the major public and institutional work that has flowed through the state in recent years. Mortenson Construction is aiming for a 2012 completion of the $275-million Martha Jefferson Hospital replacement in Charlottesville, Va. In 2009, KBS of Richmond broke ground on the $51.5-million Henrico County High School #1 in Richmond. The two-story, 255,000-sq-ft facility will complete in June. Related Links: Crunch Time for BRAC But as billions in federal funding comes to an end and state coffers dry up in the
With roots in federal renovation and construction projects, Grunley Construction Co. of Rockville, Md., fared well in 2009. Although regional revenues were down $50 million from 2008, the company finished 2009 with $326 million in revenue and maintained full employment. Related Links: Top Contractors Clark Construction Group Mid Eastern Builders Daniel J. Keating Co. Bozzuto Construction Co. Oak Contracting Hill International Top Contractors List “Our renovation work tends to be sizable, multiyear projects,” says Joel Zingeser, director of corporate development at Grunley. “We’ve had a fairly stable backlog of work, and in April 2009, we were awarded several American Recovery