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Tuesday, February 02, 2016
Irving Music Factory to move forward on $173M project with new general contractor
COURTESY OF ARK GROUP, GENSLER
Noah Lazes is ready to get back under construction on the $173 million Irving Music Factory development in Irving and expects the project to begin to come out of the ground with the help of hundreds of workers starting Wednesday.
Construction was delayed for months as the developer, the city and the general contractor signed a new contract, which brought international construction firmSkanska in from the wings as Dallas-based Balfour Beatty Construction took its leave, stage left.
Real estate sources said the hot construction market helped drive the general contracting switcheroo, which helped keep the construction costs on budget at $173 million.
"Skanska has a lot of experience with Live Nation venues and we felt good with Skanska," Lazes, president of The Ark Group of North Carolina, told the Dallas Business Journal.
There won't be much impact to the Live Nation-anchored mixed-use development because Irving Music Factory always had a horizontal and vertical phase of development. Balfour Beatty had finished the horizontal phase of development before leaving the project.