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PSA Constructors Announces Funding for $300 Million Pinnacle Project in Tampa

Orlando-based PSA Constructors announced that two development teams have put together funding for the $300 million Pinnacle of Tampa Bay project. PSA will serve as the owner's representative for developer Frank DeBose and his company, Pinnacle Group Holdings.

Pinnacle Group Holdings will develop the 624-ft. tower complex, which will feature an observation deck, revolving restaurant and meeting space. At the tower's base will be a 4,000-seat amphitheater and entertainment venue and structured parking.

Expected to break ground by the end of 2004, PSA indicated completion of the tower is planned for 2006.

Pinnacle Place Partners, a joint venture between DeBose and Tampa developer Ken Morin, will break ground this summer on two 37-story condominium towers containing 330 units. Resident parking will be built beneath the condo towers, and another 70 units built above street-level retail. The condominium towers are being designed by Morris Architects of Orlando.

JetBlue Breaks Ground on Orlando Facility

JetBlue Airways broke ground recently at Orlando International Airport for the construction of its flight training center and a new hangar for aircraft maintenance and LiveTV installation and maintenance.

The airline's new training center will encompass an 80,000-sq.-ft. building with the capacity for eight flight simulators and two cabin simulators, plus classrooms, cabin crew training equipment, a training pool, a fire-fighting training station and administration areas. The airline will use this new facility for the initial and continuous training of all JetBlue pilots and inflight crew, plus support training for its technical operations and customer service crew. Construction of the training center is scheduled to be completed in late 2005.

The company's maintenance hangar will cover approximately 70,000 sq. ft. and have the capacity to accommodate three Airbus A320 aircraft. The hangar, expected to be complete by early 2005, will be used for aircraft maintenance as well as the installation and maintenance of the airline's LiveTV inflight satellite television system.

Suitt Construction Co., Maitland, Fla., is listed as the project's construction manager.

Florida Contract Activity Continues Remarkable Pace

The value of contracts for future construction in Florida continued to show remarkable strength, increasing by 26 percent in May over the same year-ago period, McGraw-Hill Construction reported. All sectors improved, as the value of May contracts for Florida totaled roughly $5 billion, or about $1 billion more than was reported in May 2003.

In May, the residential sector continued to soar, improving by 26 percent over May 2003. The most recent month's report indicated an estimated $3.4 billion for this sector, compared to the $2.7 billion of a year ago. Nonresidential market also increased markedly, improving by 34 percent to total nearly $1.1 billion, or about $300 million ahead of the amount generated in May 2003. Nonbuilding construction improved by 7 percent to end at nearly $526.6 million, compared to last year's $490.3 million.

For the year-to-date, overall activity has increased by 21 percent, from the cumulative $19.2 billion reported in the first five months of 2003 to 2004's $23.2 billion total so far. The residential market has shown the greatest strength to date, having improved 31 percent so far in 2004, with roughly $16.2 billion in activity reported. The nonbuilding sector is approximately 7 percent ahead of last year with roughly $2.7 billion in activity reported so far in 2004. Despite its 34-percent improvement in May, the nonresidential category continues to be 2 percent down for the year, with $4.3 billion in contracts reported to date.

Yates Construction to Build Mayan Condo

Laguna Beach Properties has named the Gulf Coast division of Yates Construction Co. as the general contractor for its 25-story, 298-unit Mayan condominium project in Panama City Beach.

Work on the $55 million project was scheduled to begin late summer.

Summit Contractors Annnounces a Pair of Projects

Jacksonville-based Summit Contractors recently broke ground on its Park Lane Apartments project in Gainesville for Selnick Development LLC of Winter Park. Fugleberg Koch Architects of Winter Park designed the market-rate development, which will include 224 units in 27 wood-framed buildings.

The contractor also reported it has been awarded a contract to build a senior multi-residential facility in Sebring. The three-story wood-frame building will accommodate 122 units. The project is scheduled for completion in March.

Christiano Building Ocean 12 Condos

Clearwater-based Christiano Construction Co. Inc. is serving as the construction manager for the new six-story-over-parking Ocean 12 condominiums in North Reddington Beach. Construction of the $4.4 million, 38,768-sq.-ft. multifamily project began this spring.

Kaufman Lynn to Build South Florida Heart Institute

Boca Raton-based Kaufman Lynn General Contractors has been selected to build the South Florida Heart Institute in Delray Beach. Designed by Slattery and Associates of Boca Raton, the $2 million, 13,200-sq.-ft. medical office building is scheduled for completion in 2005.

Gallo Architects Designing New Bed, Bath & Beyond

Gallo Architects & Development Consultants of Deerfield Beach has been awarded a contract from Boca Raton-based Woolbright Development to design a new Bed Bath & Beyond at South Dade Plaza in Miami.

GADC affiliate JWR Construction Services will provide construction and general contracting services. Construction was scheduled to begin in August and be completed by year's end.