That date has come and passed. I heard some people did get out of their contracts, and there were buyers willing to scoop them right up. Some even got payouts.
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Fortis has just four guys at the helm. The founder has his son as second in command. The other two are the CEO and CFO and it looks like the two were buddies in law school at the University of Maryland. Nepotism and law school buddies
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media will have a field day with this
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I see a case study such as this one, and what went down, as further ammunition for the NIMBYS. If more of these major, high profile safety issues occur in other projects, and ones which are further propagated by the media, it opens up developers even more to criticism and potentially some action on the political lawmaker level.
For development sakes, one bad apple could set the wrong precedence. Let’s hope more failures such as One Seaport do not occur. Developers have to set the standard of excellence, and in a manner that proves to the NIMBY swine that they intend good things.
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chris08876’s post is unfortunate. I don’t think the disaster of this project will have much of an impact on others. But using words like “swine” is really out of line. Can’t we try hard as a group to refuse to let the general incivility of the contemporary scene show up here? It simply doesn’t advance intelligent commentary and learning from each other. Thank you.
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“The developer said there’s no safety issue and the contractor is trying to distract from its inability to complete the project.” But they found it’s leaning…
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That part fails basic logic, I agree. But why, if Pizzarotti knew for so long about the foundation issue, did it continue work until recently? If you were Pizzarotti, wouldn’t you have high-tailed it out of there the moment you realized there was an unresolved issue relating to the foundation? The whole thing seems like a comedy of errors.
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I think pressure. Probably a case where upper management knew of the “willful” error, but didn’t want to back out just because of how much was invested. Either way, somebody will lose a job or a few depending on how this progresses. If it hasn’t happened already…
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Pizzarotti is also the general contractor for 45 Broad and that site has been dormant for going on two weeks now, as was expected given the latest (supposed) press release from the project. Although why a high-powered consortium would issue press releases using a Gmail account is beyond me.
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Typically when folks are guilty, you will see a lot of finger pointing and passing of the buck around. But at this point, it looks like damage control. Minimize the PR on this fiasco.
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I saw that article several months ago and noted the engineering team had opted for what’s referred to as “condition 4” in the article. The data they present in support of that decision obviously corroborates what they ended up doing for the foundation.
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I’m not an engineer and don’t pretend to be although I passed statics and thermo in college.
I was suggesting that the foundation engineers for One Seaport essentially did the same thing that millennium tower’s foundation engineers did. Namely they came up with a cheaper way to support the building, modeled how the building would settle and at least to a degree got it wrong. It doesn’t seem like the building is in danger of imminent collapse but news like “uneven settling” and “subsidence” doesn’t bode well in the mid to long term for the building or the developer.
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Ugh. So many obvious errors in that article. Business Insider is terrible.
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Oooh. That’s interesting. I wouldn’t be surprised if Pizzarotti is being replaced on 45 Broad.
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I believe they have a few projects ongoing in the City. Does anyone know if work has stopped at any other Pizzarotti sites?
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https://www.pizzarotti-usa.com/projects/
Their short list of projects still lists both Maiden lane projects with Fortis prominently on their site. Their background project render on their main page is of One Seaport lol.
Jardim 527 West 27th Street is almost done. Pretty much everything else besides 45 Broad is low-rise.
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This is good stuff, thanks
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Nice pictures in the article.
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