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Legacy Union (former Charlotte Observer redevelopment)


Missmylab4

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6 hours ago, J-Rob said:

^To that point, I have always thought the pyramid was undersized on Legacy Union.  If the pyramid was the same width as the rest of the building, the proportions would look waaay better.

I definitely agree. If it was closer to one worldwide plaza in proportions, it would help significantly. And adding a mini-me would be kind of neat in my opinion.

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20 minutes ago, Matthew.Brendan said:

AKA complete ¯\_(ツ)_/¯

(At what point does a project like this get paid? The main construction company that is)

I think theres about a 1000 different answers to this question lol.

 

EDIT: 

Talked to a client and it really depends on how its arranged. 

This is likely done by deliverables. Create Milestones, like this is 10% completed, give me my 10%. I'm 20%, wheres my next 10%. 

Edited by Guest
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Yeah, do a search for an AIA Form G702 if you want to see what the calculations look like.  Usually, the contractor gets 90% of cost of the work completed in the specified interval.  The interval is usually a month as this is usually the contractor and developer's interest period on their respective funding.  The remaining 10% is referred to as the retainage and will be paid out at completion.  This insures the developer (and/or its lender) has leverage over the contractor to insure completion and a cushion for any failures to complete the project as designed.  The contractor may get some of its fee in paid in each draw or it may have it withheld until the end, this is entirely negotiable.  Usually only the profit is held until the end, as everyone is incentivized to make sure the contractor can pay its bills and people.

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