GRS Group Provides Construction Lending Services on New Multifamily Development

By Mark Halloran, Senior Vice President with GRS Group, an NV5 Company 

GRS Group an NV5 Company prepared a Plan and Cost Review for ground-up development, with hard construction costs of around $400MM, for a major national construction lender. Project development is underway and will be a notable addition to the skyline as a 68-story, 938-unit multi-family rental apartment tower with ground floor retail space, a car cellar/parking garage and class A amenities and site improvements.  The tower, located in the heart of Long Island City, Queens, New York will be amongst the tallest structures in the borough once completed.

The scope of work for the project included the evaluation documents and contracts for site excavation, site development, amenities, parking garage, retail space and site improvements including parking facilities, sidewalks, street tree plantings, drainage, hardscape, underground utility connections and lighting. GRS/NV5 advised the lender on the completeness of plans, specs, drawing and contracts provided by the Developer, General Contractor, MEP, Structural Engineer and Site/Civil/Geotechnical and Parking Engineers and Exterior Facades/Wall, Elevator and Environmental Consultants.