Hyatt House Naples/5th Avenue

Location

Naples, FL

Project Type

Hospitality (Modular Construction)

Project Range

$10-$50 Million

Completion Date

February 2016 TCO / May 10, 2016 Final

Services Provided

Construction Draw Review Services

Client

Fifth Third Bank

Project Description

Hyatt House Naples/5th Avenue is a 3-story modular constructed hotel with an attached four level parking garage, located at 1345 5th Avenue South in Naples, Florida. Hyatt House Naples/5th Avenue further contains a pool, elevated walkways and boat docks along the waterfront.

FINFROCK, the Developer / Contractor / Design-Builder / Manufacturer, is based out of Florida, provided the design, manufacturing of the building systems and components as well as the construction of the project in a turn key fashion. This process allowed Hyatt House Naples/5th Avenue to be constructed in an 11-month timeframe.

This type of modular construction is growing in popularity and is being utilized for multiple project types including, but not limited to, hospitality, multi-family housing developments, structured parking, office and mixed-use.

The key component to this Hyatt House Naples/5th Avenue were the pre-cast DualDeckTM (top section side floor slab/bottom section side is ceiling) spanning members fabricated at the FINFROCK plant. Each section contains MEP rough-in components to aid in accelerating the construction process whilst maintaining high quality control for the final product.

Due to the significant amount of offsite manufacturing needed for this type of construction, reviewing the respective facilities and offsite components brings with it an inherent risk associated to the funding mechanisms. Fulcrum with its Client were able to mitigate this risk by establishing a best-practices process for the entire project delivery team to utilize.

“I appreciate your thoroughness and follow up on this project…..I will definitely use you again if I need an inspecting architect, and I will recommend you internally for more work as well.”

Leslie O. Andren

Bank of America, Commercial Real Estate Special Assets Group

“I’ve worked with Fulcrum and found them to possess a level of expertise necessary to monitor very complex construction projects. I have the utmost confidence in Fulcrum’s work. On the ‘project-of-all-projects,’ the Fulcrum team went above and beyond the call of duty, using every means at their disposal to protect our interests on a very difficult project with many competing stakeholders involved.”

Brent Parsons

Academy Bank

“Fulcrum has always provided us excellent advice and counsel along with wonderful client service. I really enjoy working with them.”

Ryan Berschneider

Cottonwood Management, LLC

“Fulcrum is in fact part of the team by virtue of JP Morgan being our lender. Fulcrum has my commitment that I will provide a recommendation for you on future projects. You all have been tremendous to work with.”

Clay Iman

Wood Partners

“I know you know how thorough Fulcrum is…here is yet again what they bring to the table. Makes for better sleeping wouldn’t you say!”

Andrew Oexmann

JP Morgan Chase

“Just wanted to thank you again for your work and help in navigating thru the First United Methodist Church. Specifically, your “catch” of the delta between the electrical percentages complete at 35% and the other MEP subcontractors at 85% was monumental.

As a result of your help, we recognized this challenge early and were able to convince the electrical subcontractor to add more workers, work longer hours and expedite materials to allow them to catch up and keep the project on schedule. Once again, thanks! It is a pleasure working with you.”

Jim Pittman

JTM Construction

“I just wanted to thank you for your thoroughness on your review of the pay apps that I witnessed last week. We are all trying to keep our eye on the ball; however, Fulcrum’s detailed nature really helps me sleep better on costs associated with this project. The team’s sense of humor also helps the process along.”

Cheryl Kondra

Caesars Entertainment

“We used Fulcrum on multiple projects, and truly value their expertise. Not only do they protect our interests as a lender, but our clients also benefited from various cost efficiencies suggested by Fulcrum’s knowledgeable staff.”

David Skoien

CapitalSource

“I have no problem telling it like it is. Fulcrum has always been there when needed, and are always on top of their game. I wish other consultants had half the ability that Fulcrum has. It would make our lives so much easier.”

Skip Allen

JPMorgan Chase

“The opportunity to finance a 23-floor, high-rise condominium tower in an urban setting presented several complex challenges to our bank, one of which was having an experienced lender representative looking out for our best interests. The engagement of Fulcrum was one of the best decisions our bank made at the time. Reports were always timely, risk issues identified, and thorough reviews of each construction draw drew praise from the relationship manager and senior management. As a result, we would not hesitate to engage Fulcrum for future work and would highly recommend you to our peers.”

Edward Celaya

Mutual of Omaha Bank

“I can say that JBG has been quite pleased with Fulcrum’s performance at Wardman West — Fulcrum’s on-site process and thoroughness of the reviews has been on target and educated and has not exhibited some of the trivial, superfluous communications I have experienced on other projects. We look forward to dealings in the future.”

Joseph Babarsky

The JBG Companies

“Rutan & Tucker, LLP represented a large commercial lending institution during the foreclosure process on two mixed use buildings in the Greater Los Angeles Area. As a part of this process, Rutan retained the services of Fulcrum to complete a Comprehensive Property Condition Assessment Report (involving many specialist consultants) and perform Expert Witness Services. Fulcrum presented us with a clear and informative document, which was then submitted to the court as support evidence in our case. The case proceeded to trial, where Fulcrum provided expert witness testimony to the court and assisted us in securing a favorable outcome for our client. I would not hesitate in recommending Fulcrum for such services in the future.”

Penelope Parmes

Rutan & Tucker, LLP

“It’s a pleasure to work with all the Fulcrum people.”

Michelle Walker

Principal Real Estate Investors

“Thank you for Fulcrum’s diligent and detailed review of costs incurred. Great!”

David Weislogel

JP Morgan Chase

“I would like to thank you for all of your hard work, your expertise, and your positive outlook throughout the Linq project. Fulcrum’s contribution to the success of Linq has not gone unnoticed or unappreciated. We will miss Fulcrum’s leadership in the monthly job walks and pay application reviews; however, we will do our best to keep the spotlight on the contractors to finish the job in the professional, thorough and safe manner in which Fulcrum has helped to institutionalize.”

David J. Codiga

Caesars Entertainment

“Please know that I have been very pleased with the services provided by Fulcrum, and I recommend by Fulcrum for third party inspections.”

Skip Szymanski

Housing Authority City of Santa Barbara (HACSB)

“Fulcrum has been an invaluable resource, and it would definitely be worth talking to Fulcrum to get some background on the project if you haven’t already.”

Christian Lunt

JP Morgan Chase

“As part of a low-income housing tax credit transaction involving the rehabilitation of a 143-unit, mid-rise apartment building in Oakland, California, Fulcrum provided a much needed service on behalf of the lender. The organizational skills, attention to detail, and ability to resolve the natural and needed tension between the architect and general contractor all contributed to the success of this project. And, as one of the general partners, I was also impressed with Fulcrum’s ability to value engineer many aspects of the renovation, including material selection and the scheduling and staging of the work. The bottom line is that Fulcrum is very good at what they do, and I would highly recommend Fulcrum for any construction management assignment.”

Rick Toney

Realty Advisors

“I have found Fulcrum to be one of the highest quality consultants in my marketplace. They can be counted upon to produce concise reports from volumes of data, on-time.”

Steven D. Strehlow

Alliance Bank of Arizona

“Thank you for Fulcrum’s diligent and detailed review of costs incurred. Great!”

David C. Weislogel

JPMorgan Chase