Commercial developers often breathe a sigh of relief when property is successfully purchased. Yet, this is often just one of the many steps that must be completed in order to build profitable businesses and residences. In far too many instances, construction disputes arise that threaten to leave a commercial developer with a delay and lost profits. Conversely, developers who fail to make on time payments to a builder or a material supplier may cause the construction company to lose money and time and might even damage its reputation.
The best way to prevent these disputes is to have an adequately drafted construction contract. This document will spell out all terms of the deal, including the timeline, payment, permit issues and a whole host of legal issues.
Many of these issues have likely been addressed with a new townhome and an apartment complex that has been approved by the Phoenix City Council. The projects, to be at 44th Street and Palm Lane, will be in the same location where a QuikTrip convenience store and gas station was to be built, but that project was not approved by voters in 2011. Though construction for these new projects has been given the go ahead, many are concerned that there may be traffic and pedestrian safety problems when the buildings are built.
The construction of an apartment complex, or any building, for that matter, is complicated, involving massive amounts of money, multiple parties and strict deadlines that stretch of a significant period of time. Tackling such a project may seem daunting, but with the right help a contractor, commercial developer, material supplier or a builder can rest assured that the party’s legal rights are protected.
Source: KTAR, “Phoenix townhome project, additional apartments approved by city council,” July 6, 2014