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Envelope Commissioning & Quality Assurance: The Dinerstein Companies’ Aspire Post Oak, Houston, Texas

THE PROPERTY

Criterium Engineers is delighted to be part of a futuristic, LEED-certified, high-rise construction development in Houston’s iconic Uptown District called Aspire Post Oak, located at the junction of Post Oak Boulevard and San Felipe Street.

THE PROJECT

The brand new development is being built by The Dinerstein Companies (TDC), one of the nation’s largest developers of multi-family and student housing communities.

TDC engaged with Criterium to provide Building Envelope Consulting/Waterproofing, Third Party Quality Assurance and Risk Management Services for the 39-story mixed-use structure with residential, parking and retail units. Aspire Post Oak is projected to open in mid-2021.

 

Aspire Post Oak - The Dinerstein Companies

Cost Segregation Analysis: Riverfront Plaza, Milwaukee, WI

THE PROPERTY

A 100-year-old, six-story, 10,328 sq. ft. downtown office building

THE CHALLENGE

All cost segregation studies are designed to identify assets that can be depreciated more quickly than buildings, to reduce the tax liability and improve cash flow in the early years of ownership.  This project was unusual because it involved the renovation of an existing building rather than the purchase of a new one. Because we didn’t have the original building drawings for this 100-year-old building, we had to use our engineering expertise to identify the components eligible for accelerated depreciation. We also had to think creatively to recognize, for example, that the operating cost of utilities could be treated as a tangible asset, eligible for accelerated depreciation.  As with most urban structures, most of the value in this small building was in the assets inside – in the office space on the top floors and in the retail space and restaurant on the ground level.  Identifying those assets and classifying them correctly, consistent with IRS guidelines, was essential to maximize the tax benefits for the client.

THE TAKEAWAYS

Cost segregation analysis requires an understanding of buildings, tax rules and business operations.  Criterium Engineers is one of the few consulting engineering companies with expertise in all those areas.  Our experienced professional engineers are equally adept at reading blueprints, cash flow ledgers and IRS rules.

Property Condition Assessments and Environmental Site Assessments: Multiple Properties

THE PROPERTY

Varied commercial properties in many different states.

THE CHALLENGE

The client, AEI Property Corporation, acquires properties for inclusion in real estate investment partnerships and trusts. Timing is a major challenge for these building assessments, because a fast turnaround is often required to meet securitization deadlines.  The varied locations and large volume create additional challenges.  Criterium Engineers evaluated 27 buildings for AEI in 17 states last year.  Because REITs are sold to investors, standard inspection reports must sometimes be modified to address specific investor concerns.  At AEI’s request, we added a “visual mold inspection” section to our reports, verifying that the inspection did not identify any evidence of mold.

THE TAKEAWAYS

Criterium Engineers has affiliated offices all over the country staffed by highly qualified engineers, ensuring a fast, professional response to client requests.  Senior engineers in Criterium’s corporate office review all property condition and environmental assessment reports to ensure that they meet both the client’s needs and the company’s standards for quality, consistency, and professionalism.  Our ability to provide the services clients need where and when they need them, customized to meet their unique requirements, explains why national companies like AEI rely on Criterium for a full range of consulting engineering services.

Quality Assurance: Upper East Side, New York, New York

THE PROPERTY

A multi-million-dollar townhouse, undergoing a multi-million-dollar renovation.

THE CHALLENGE

Construction of any kind in New York City is challenging, by definition.  This project was particularly so, because the renovation was complex and the building code compliance requirements extensive. The owner had retained an internationally known architect (D ’Apostrophe) and one of the nation’s top five residential builders (Autun Contractors) to do the work. The architect retained Criterium Engineers to provide quality assurance services.  Working closely with the architect and the contractor (we had previously collaborated with both), we developed initial specifications and monitored the construction at all phases through its completion, to ensure that the owner’s design and construction quality expectations were met.

THE TAKEAWAYS

You judge a consulting engineering firm in part by the company it keeps. It is significant that these two premier companies (D’Apostrophe and Autun) have chosen to work with us.  Criterium Engineers can meet the expectations of the first-time home owners we serve and the most experienced and most demanding clients, because no one expects more from us than we demand from ourselves.

Home Inspections: REVEN Portfolio

THE PROPERTIES

Groups of single-family homes purchased for rental in various markets.

THE CHALLENGE

REVEN acquires portfolios of single-family homes for rental all over the country.  In addition to basic inspections evaluating the structures and major systems for those properties, the company needs estimates of repairs that will be required immediately and longer term, and it needs that information in a standard format that can be used with every group of properties the company purchases.  The reporting format Criterium Engineers designed summarizes that essential information, includes photos of all the properties and provides a standardized way for the client to review the relative condition of their properties.

THE TAKEAWAYS

Criterium Engineers provides services tailored to meet our clients’ needs.  For REVEN, this has meant, in addition to the customized reporting format we developed for them, our national network of affiliated engineering professionals able to conduct home inspections in any market in which the company acquires properties.  We have been working with REVEN for more than six years and have inspected more than 4,000 properties for them.

Transition Study: Traditions of America at Liberty Hill, Boalsburg, Pennsylvania

THE PROPERTY

A 282-unit residential community with 139 detached, single-family homes and 143 attached townhomes.

THE CHALLENGE

The challenge in any HOA transition study is to distinguish between serious structural and design deficiencies that require attention, and deficiencies that should be noted, but don’t rise to the same level of concern.  In the “serious deficiency” category, our inspection identified flaws in the construction of the community’s clubhouse.  A Criterium engineer did a follow-up inspection after the transition study was complete, to verify that the contractor had made the necessary corrections.  In the “not so serious” category, HOA board members had identified problems in the landscaping of this 82-acre development that they thought might warrant a construction defect suit. We explained that the “deficiencies” they perceived were actually symptomatic of a new development and would cure themselves over time with proper maintenance.  The information and counseling we provided reassured the board about the condition of the property and helped the association avoid a legal battle it didn’t have to fight.

THE TAKEAWAY

A Criterium Engineers transition study doesn’t just provide the detailed information HOA boards need about the condition of the association’s property; it also provides the perspective they need to evaluate that information and make decisions based on it.  Our engineers don’t just analyze condominium buildings; they advise and support the boards responsible for managing them.

Reserve Study: Pebble Creek Golf Resort, Goodyear, Arizona

THE PROPERTY

A sprawling resort community with 6,000 free-standing homes (when we did this study) for which owners are responsible, plus three golf courses, three clubhouses, two swimming pools, miles of roadways and common utilities, totaling more than 3,000 assets managed by the HOA.

THE CHALLENGE

An estimated useful life (EUL) had to be calculated for each of the community’s 3,000 assets. While some reserve studies simply subtract the current age of the asset from its life expectancy (calculated by the manufacturer), our calculation also considers the asset’s current condition and its current use. For example, the exercise equipment in this active adult community is used constantly – far more than the equipment in most public health clubs. That intense use will significantly reduce the EUL and accelerate the community’s capital repair and replacement costs.

THE TAKEAWAYS

Reserve studies are not ‘fill-in-the-blank’ exercises.  Three identical components in three different communities may have three different EULs. A Criterium Engineers reserve study will capture those differences.

Capital Needs Assessment: Home Owners Association at Diamond Cove, Great Diamond Island, Maine

THE PROPERTY

A year-round island resort community including 250 single family houses and condominium residences, plus a hotel, two restaurants and a marina.

THE CHALLENGE

Diamond Cove was converted from a former military base constructed near the turn of the century. Many of the homes and other buildings are original structures, included on the National Register of Historic Places. The infrastructure includes some components that are new and others (the water pipes) that are more than one hundred years old. Complex maintenance obligations for this mixed-use development are allocated among the HOA, individual owners, and the local government. Old bylaws, lacking the sophistication of newer ones, added another layer of complexity to the analysis of who is responsible for maintaining what.

THE TAKEAWAY

Criterium Engineers drew on decades of experience analyzing structures of all kinds for condominium communities all over the country to develop the comprehensive and detailed cost projections this HOA needed to manage the community’s finances.

Quality Assurance: Port Imperial, West New York, New Jersey

THE PROPERTY

A 13-story, 700,000 sq. ft., 278-unit condominium development.

THE CHALLENGES

This high-end development’s location, on the Hudson River directly across from Manhattan, gives it spectacular views of the city. The location and luxury features attracted affluent buyers with high quality standards, making a reliable quality assurance review essential for the building’s owner, K. Hovnanian, who required the construction company, Sordoni Construction to retain Criterium Engineers for that purpose.  We conducted more than 100 separate inspections during the construction process, performing extensive water testing, monitoring construction quality, evaluating consistency with the design specifications, and making sure the documentation confirmed that all “open” issues we identified had been resolved.

THE TAKEAWAYS

Criterium Engineers is known and respected for the professionalism and objectivity of its Quality Assurance reviews, which we provide for building owners, investors and contractors.  Our QA reports provide the assurance owners and investors want that a contractor has met construction quality standards, and the documentation contractors need to verify that.

Quality Assurance: The Oaks at Cranbury, South Brunswick, New Jersey

THE PROPERTY

A new townhouse development consisting of 188 units of varying sizes.

THE CHALLENGES

The Oaks is a townhome community developed by K. Hovnanian Homes, a nationally known home builder.  While all Criterium Engineers quality assurance projects are different, QA inspections for this one focused on both the exterior envelope and the fire-rated assemblies.  The pace of construction for this project required our field inspectors to be on site daily, sometimes performing multiple inspections each day.

THE TAKEAWAYS

Through our network of affiliated engineers and engineering companies, Criterium Engineers can provide the full range of consulting engineering services wherever and whenever clients need them, along with first-hand knowledge of market conditions and local code compliance issues.  This explains why K. Hovnanian, one of the nation’s ten largest builders of multi-family properties nationwide, has made Criterium Engineers its preferred provider of Quality Assurance services.