Welcome to the Elevator World News Podcast. This week’s news podcast is sponsored by elevatorbooks.com: http://www.elevatorbooks.com
DELPECH RESIGNS AS OTIS PRESIDENT
Otis President Philippe Delpech has resigned to “accept another opportunity in Europe,” Otis parent company United Technologies Corp. (UTC) announced on July 27. UTC gave no other details about Delpech's departure but said that Nora LaFreniere, vice president and general counsel, and Mark George, vice president for finance and chief financial officer, will lead the vertical-transportation company until a permanent successor is chosen. The Hartford Courant said Delpech became Otis president in September 2015, after having served as chief operating officer of intercontinental operations for UTC Building & Industrial Systems, a unit of UTC that includes several brands, including Otis.
RELATED’S FLORIDA CONDO TOWERS GOING STRONG
The Related Group sold 100% of the residences in its first 40-plus-story condominium tower in Hollywood, Florida, just as the second has started rising, SkyRise Cities reports. The latest tower, Hyde Beach House, is approximately 80% sold and looking toward a 2019 completion. Designed by Cohen, Freedman, Encinosa & Associates Architects, it will have approximately 340 units that are a mix of permanent residences and rentals. Like its predecessor, Hyde Resort and Residences, Hyde Beach Club will boast extensive amenities such as an outdoor theater, large pool deck, tennis court, rooftop club and direct access to the beach from the exclusive Hyde Beach Club.
PARTIALLY BUILT MANHATTAN TOWER FACES FORECLOSURE
Steinway Tower, a planned 82-story residential tower at 111 West 57th Street in Manhattan, New York, has gone so far over budget that the project is facing foreclosure, the New York Post reports. AmBase, a major real estate investor, is suing the developers, saying the project is US$50 million over budget because of "egregious oversights like neglecting to budget for construction cranes.” The building, one of the trendy skinny skyscrapers on Manhattan's "Billionaires Row," is less than one-quarter complete, having risen fewer than 20 stories. The lawsuit targets project sponsors Kevin Maloney and Michael Stern, and lender Spruce Capital Partners.
Photo: Hartford Business Journal file photo:
http://www.hartfordbusiness.com/article/20170728/NEWS01/170729928/otis-elevator-president-delpech-quits
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