No construction project is risk free. Risk can be managed, minimized, shared, transferred or accepted. It cannot be ignored.
Longcrier Construction Company, filed for bankruptcy, leaving $90 million in construction completion work, secured by bonds through Fireman’s Fund Insurance Co. Located throughout the State of Texas the uncompleted projects included a 75,000-square-foot office building in Addison, a 250-unit apartment complex in Dallas,an 85,000-square-foot office building in San Antonio, a 150-unit one- and two-story condominium project in LaMesa, a 150-unit hotel in El Paso, and a 150-unit condominium complex in Dallas.