residential building – News Stories About residential building - Page 1

Luxury Condo Developer: $125M Suit All About 'Publicity'

At the 'Pinnacle of Luxury,'
a Lawsuit and a Response

Dec 23, 2021 9:11 AM CST

At the 'Pinnacle of Luxury,' a Lawsuit and a Response

CIM Group responds to $125M lawsuit over 432 Park Avenue

(Newser) - Complaints from wealthy residents of the 432 Park Avenue luxury condominium tower on Manhattan's Billionaires' Row have been "vastly exaggerated," a developer says in response to a $125 million lawsuit from the building's condo board. The suit, filed in September , painted the megatower erected in 2015,...

No Relief for Homeowners With Rotting Chinese Drywall

HOME, STINKY HOME

Sep 18, 2010 8:09 AM CDT

No Relief for Homeowners With Rotting Chinese Drywall

Many seek alternate shelter; others have to tough it out

(Newser) - Their homes stink like rotten eggs, appliances constantly malfunction, and anything metal turns black and corrodes, but the headaches (and other illnesses) don't end there for homeowners with Chinese drywall, reports the New York Times. Though thousands of lawsuits have been filed, insurance companies aren't paying, homebuilders largely aren't stepping...

Shanghai Building
Collapses Intact

Jun 27, 2009 6:54 AM CDT

Shanghai Building Collapses Intact

Construction worker killed trying to retrieve tools

(Newser) - A 13-story building under construction in Shanghai collapsed almost completely intact today, Reuters reports, killing a construction worker who entered the block of apartments to fetch his tools. The Chinese construction industry has been accused of dangerously shoddy work as the country rushes to build out its cities and infrastructure...

Mortgage Meltdown Hits
Small Builders

Mar 21, 2008 3:00 AM CDT

Mortgage Meltdown Hits Small Builders

Wave of bankruptcies could in turn weaken regional banks

(Newser) - The housing market collapse that's sending homeowners into foreclosure is starting to hit small- and medium-size builders left with developments they're unable to sell, the Wall Street Journal reports. Buyers are canceling contracts and builders are missing mortgage payments on often highly leveraged projects. Small regional banks, in turn, could...

Construction Spending Tumbles

Mar 3, 2008 10:23 AM CST

Construction Spending Tumbles

Spending falls at fastest rate since 1994

(Newser) - Construction spending fell at its fastest rate in 14 years in January, the Commerce Department announced today, shattering expectations with a 1.7% drop. Analysts had expected just a 0.7% decline, the Wall Street Journal reports. Residential spending was the big drag, falling 2.9%, but non-residential spending was...