CLIENT: Old Montauk Holdings, LLC
LOCATION: Birmingham, Alabama
SERVICES: Owner's Representation
Marx|Okubo worked on this renovation of a historic 1929, 20-story former hotel to a mixed-use project consisting of residential apartments and 7,000 square feet of restaurant and retail space, as well as a restored lobby, ballroom and event space. Our team assessed project progress and completion level, reviewed construction documents, and provided construction phase monitoring, which included weekly site visits and project management. Scheduled to last one year with a fixed budget, a construction loan was issued based on the developer’s budget. However, inexperienced management, lack of planning, insufficient design and inaccurate budgets caused overall project delays–eventually increasing the hard and soft costs of the project, and delaying construction funding.
Our team assisted in turning this project around successfully by reorganizing/managing the team including subcontractors, rescheduling and analyzing costs, monitoring the construction processes, restructuring communication procedures and managing the protocol/accountability process. Ultimately, we realigned the project to the new goals, with a successful completion on time and on budget.