Tag: Projects

  • Hitachi Energy announces over $100M in modernization and factory upgrades in Quebec

    Hitachi Energy announces over $100M in modernization and factory upgrades in Quebec

    The Government of Quebec, through Investissement Quebec, will contribute to funding nearly $140M CAD for sustainable factory upgrades for Hitachi Energy in the Montreal and Quebec areas. The funding is specifically for Hitachi Energy’s power transformer facilities and supports its long-term electrification efforts plan. 

    This ambitious upgrade stems from North American customers’ rapidly growing demand for more sustainable energy. Hitachi’s funded electrification plan kicks off in their factory in Varennes, Quebec, where Hitachi Energy has one of the highest manufacturing capacities in the world. The factory will also serve as an on-site transformer testing facility. This testing will be crucial for the modernization to start in other locations in Montreal and Quebec City. 

    Bruno Melles, Hitachi Energy’s Managing Director of Business Unit Transformers, states, “Globally, demand for transformers and electrical equipment continues to grow at an unprecedented scale. At Hitachi Energy we are continuously developing our global footprint and capacity to address our customers’ mid- and long-term needs. In addition to our global investments, the support of the Quebec Government will help to address North America’s rising demand for transformers to support fast-growing sectors like renewable energy, data centers, and industrial electrification, as Quebec strengthens its role as a key player in the energy transition.”

    Transformers enable efficient distribution and transmission of electricity across the power chain, making them crucial in these sustainability efforts. Applications for transformers may include powering grid interconnectors and data centers and integrating renewables, which will facilitate the decarbonization of energy systems. 

    The facility in Varennes covers around 300,000 square feet and employs approximately 330 people. Hitachi Energy is a global tech leader in the power space and operates in over 140 countries. They employ over 550 skilled engineers and 1,000 people across Canada.

  • Cain International and OKO Group break ground on Beverly Hills’ tallest towers

    Cain International and OKO Group break ground on Beverly Hills’ tallest towers

    Cain International and OKO Group have officially commenced construction on One Beverly Hills, an ambitious $5 billion project set to become the tallest towers in Beverly Hills. The groundbreaking ceremony took place on February 9, 2024, marking the start of a transformative development that promises to redefine luxury living in the area.

    Spanning 17.5 acres, the One Beverly Hills development will feature two residential condominium towers, a luxury Aman hotel, and an exclusive 100,000-square-foot Aman Club. These structures will be surrounded by 10 acres of botanical gardens and open spaces, integrating over 200 species of native and water-wise plants. The project is designed by Foster + Partners, with landscape architecture by RIOS.

    The project is expected to generate over 2,700 construction jobs, providing a substantial economic boost to the local community. Turner Construction Company, renowned for projects like the SoFi Stadium and Burj Khalifa, will manage the site. The strategic location and innovative design are anticipated to attract high-end buyers and visitors, reinforcing Beverly Hills’ status as a premier luxury destination​.

    The project, financially backed by $2 billion in financing from JP Morgan and other private commitments, emphasizes the confidence in the stability and potential of luxury real estate in prime locations.

    Image courtesy of Cain International

    Jonathan Goldstein, CEO and co-founder of Cain International, expressed his enthusiasm towards the financing deal struck with JP Morgan stating, “We are delighted to welcome JP Morgan as a cornerstone financing partner for the One Beverly Hills project. This endorsement further strengthens our confidence in the stability and potential of luxury real estate in sought-after locations. We look forward to working with our partners as we deliver a product that will redefine hospitality and urban living.”​

    The development is poised to set a new standard for mixed-use developments in the United States, combining luxury, sustainability, and innovative design to meet evolving demands​.

  • Chicago Bears unveil $4.7 billion stadium replacement plan

    Chicago Bears unveil $4.7 billion stadium replacement plan

    The Chicago Bears formally released their $4.7 billion stadium replacement plan a few months back. The renovations will allow for seating for over 70,000 fans beneath a fixed translucent dome—a departure from the open-air stadium Bears’ fans are accustomed to. The facility will serve as a home for the Bears and a potential venue for major events like Super Bowls and World Cup Soccer tournaments, something Bears Chairman George McCaskey says will bring significant economic benefit to Chicago. 

    In addition to the multi-purpose stadium, the Burnham Park Project plans to add 14 acres of athletic fields, a pedestrian mall and pavilion, more food and beverage options, and public parks and recreation facilities. 

    As one of the largest construction projects in the area’s history, the new stadium and its associated facilities are expected to create 43,000 construction jobs and a further 4,200 permanent jobs after the project is complete.

    The Bears will contribute roughly $2.3 billion (70% of construction costs), with the remainder paid by the Illinois Sports Facilities Authority (ISFA). Chicago Mayor Brandon Johnson said Chicago taxpayers won’t be saddled with any new taxes due to the project. With interest loans on the project, the total cost will be around $4.8 billion, with an additional $1.5 billion in related infrastructure improvements.

    Previous plans for building a new stadium were focused in Arlington Heights, where the Bears spent $200 million to buy land formerly housing the Arlington International Racecourse. These plans stalled after the organization failed to reach an agreement with local schools about property taxes. 

    The stadium’s new lakefront location is just south of the Bears’ current home, Soldier Field, which will be demolished, leaving only its historic collonades. The landmark columns will be left standing to honor the memory of Chicagio’s military veterans. 

    Construction on The Burnam Park Project is scheduled to begin in the summer of 2025, with an estimated grand opening date of summer 2028.

  • LVXP collaborates with AECOM for NBA-ready arena in Las Vegas

    LVXP collaborates with AECOM for NBA-ready arena in Las Vegas

    Real Estate firm LVXP has chosen AECOM, a top infrastructure consulting firm, to design an NBA-ready arena on the Las Vegas Strip. This arena will anchor LVXP’s 27-acre mixed-use development, which also includes a luxury resort and casino designed by Steelman Partners. 

    Strategically located near major landmarks like the Las Vegas Convention Center and Resorts World, the development aims to become a premier entertainment destination—and home to a new NBA franchise.

    Nick Tomasino, LVXP’s Chief Construction Officer, praised AECOM’s work on the Intuit Dome in California and highlighted their shared commitment to innovation and guest experience. AECOM’s team, led by Bill Hanway and Dan Meis, brings extensive experience in sports and entertainment design, having completed over 70 arenas in the U.S.

    “We are excited to work with LVXP as they seek to redefine what it means to be a landmark venue,” said Matt Crane, Chief Executive of AECOM’s U.S. West region, in a recent press release. “By leveraging our team of multidisciplinary experts, our innovative integrated delivery model, and leading-edge technology, we are well equipped to deliver this world-class facility that reflects the ambitious vision of LVXP.” 

    James Frasure, CEO of LVXP, expressed excitement about working with Steelman Partners and AECOM in a recent interview. “Paul Steelman’s visionary designs for the resort, coupled with AECOM’s unparalleled expertise in arena design, will create a magnificent and unrivaled destination on the Las Vegas Strip,” he said.

    Details on the resort’s design are limited, but Frasure did note that it would include the following:

    • An 18,500- to 20,000-seat arena for entertainment and sports
    • Rooms with technological advancements currently used in overseas resorts
    • A casino
    • Convention facilities
    • A retail plaza
    • Food outlets that would spotlight Las Vegas restaurateurs

    Underground parking facilities are also a part of the plan 

    About LVXP: LVXP focuses on creating experiential mixed-use projects. The company is dedicated to delivering transformative projects that add value to the local community, led by experts in real estate, finance, marketing, technology, sports, and entertainment.

  • Downtown Orlando welcomes new $500M mixed-use project

    Downtown Orlando welcomes new $500M mixed-use project

    A $500M mixed-use entertainment project is underway in downtown Orlando. The 900,000 sq ft project will offer office space, a 3,500-seat entertainment venue, a hotel, apartments, and retail and dining options. The Westcourt Orlando is scheduled for completion in March 2027.

    Orlando’s new $500M project underway

    The Westcourt Orlando project is scheduled to break ground in late 2024. The 8.43-acre property just North of the Kia Center, home of the NBA’s Orlando Magic, will be transformed into a 900,000 sq ft mixed-used sports and entertainment complex. The project was approved in April 2024 and aims to bring more magic to downtown Orlando.

    The 900,000 square foot project will include:

    • 1.5 acres of outdoor green space
    • Up to 300,000 SF of class-A office space
    • 1,140 car on-site parking garage
    • 3,500-seat live entertainment venue
    • 260 full-service hotel rooms with 16,000 SF of indoor meeting and conference space
    • 270 high-rise apartments
    • 125,000 SF of retail and dining options

    Bringing more magic to downtown Orlando

    The 260-room full-service hotel will feature an outdoor lounge, pool deck, marquee restaurant, and 16,000 square feet of meeting space.

    The 270 high-rise apartment residents will have access to the hotel’s amenity package, giving them a life of luxury while they enjoy gorgeous views of Orlando’s downtown skyline.

    At the district’s center will be 1.5 acres of green space with outdoor dining, accommodating many programs, such as yoga, farmer’s markets, live music, and movie nights.

    There will also be 125,000 square feet of retail space with dining and entertainment. Retail pads and catering will have both intimate settings and large-format experiences.

    Westcourt is a joint venture between JMA Ventures LLC, Machete Group Inc., and the DeVos family. It’s part of a major upswing for the city as they focus on boosting the economy and tourism.

    The project’s completion is expected for March 2027 and will add to the new life brought into the city. This is just one of the $1.45B worth of projects planned for the city of Orlando, which is committed to bringing more residential, retail, hospitality, and office spaces.

    The push for more residential and visitor space is a welcome one, as it doubles the city’s development efforts compared to previous years.

  • Tutor Perini gets $48 million Alcatraz renovation contract

    Tutor Perini gets $48 million Alcatraz renovation contract

    Alcatraz, the infamous prison that once held Al Capone and other notorious villains, is getting a $48.6 million renovation led by general contractor Tutor Perini. The upgrade will stabilize and refurbish much of the main prison building, ensuring the safety of future tourists visiting the island prison in San Francisco Bay.

    Tutor Perini is a major civil, building, and specialty construction company. Its subsidiary, Perini Management Services Inc., received the contract from the National Park Service as part of the Alcatraz Island Historic Structures Stabilization and Rehabilitation Project.

    Alcatraz Prison was built as an Army prison by the U.S. Army in 1909 after it razed a previously existing fort on the island. Its desolate remoteness, reputation for being a prison that no prisoner could ever successfully escape from, and the historic criminals it once housed have inspired writers, photographers, and artists globally. It welcomes 1.4 million tourists annually.

    Tutor Perini was contracted to address the deterioration of the Alcatraz Main Prison Building, including remediating structural problems. The scope of work includes replacing steel reinforcement in the walls, strengthening concrete foundation walls, repairing exterior windows, installing storm windows, and removing hazardous materials in the building’s exterior walls.

    Renovations will also strengthen the structure’s ability to withstand earthquakes. This will be accomplished in part by fixing the deteriorating exterior walls and repairing concrete foundation walls, making the building weather-tight with new windows, and replacing spalling concrete.

    The project is expected to begin in July 2024 and be mostly completed by the summer of 2027.