Beacon News

Beacon Helps Major Insurer With Construction Defects Claim in NJ

A few years back, Beacon Consulting Group was retained by a leading insurance company to help review a large construction defects claim being made by a condominium homeowner association. In this case, the insured party was the developer of a waterfront condominium complex located near the Atlantic Ocean. The Plaintiff (the homeowner's association) was seeking $4.5 million in damages against the developer, claiming deficiencies in the construction had resulted in water damage to the complex. Beacon helped the insurance company analyze the claim and determined that the high amount being requested by the claimant was much higher than reasonable, based on all information available...

Kyra O’Neill Joins Beacon Consulting Group as Social Media Coordinator

You may have noticed that Beacon is more actively posting information on LinkedIn, Instagram, Facebook, and Twitter in recent months. This is thanks to our new Social Media Coordinator Kyra O’Neill. Kyra has reinvigorated Beacon’s social media presence and has been actively using Beacon’s social media accounts to promote the company’s services, capabilities, and successes in new ways. Kyra is currently studying at Syracuse University’s Newhouse School of Public Communications. She is working remotely / part time for Beacon to apply her writing, graphic design, and corporate communications skills in the real world. We are excited to have Kyra on the Beacon team...

Construction Industry News: $9.5-billion Terminal to Be Built at JFK International Airport

On September 8, 2022, a groundbreaking ceremony was held at New York City's John F. Kennedy International Airport (JFK) to kickoff the first phase of a $9.5-billion construction project at the airport (see renderings in full article). In cooperation with a consortium of private financial sponsors ("New Terminal One"), the Port Authority of NY & NJ announced the start of construction on a new, state-of-the-art, 2.4-million-sf international terminal which will be located on the south side of JFK. The project is expected to create 10,000 jobs, including 6,000 jobs in construction. The new Terminal One will reportedly be more than twice the size of JKF's current Terminal 1 and Terminal 2 combined...

Construction Industry News: 25,000-Seat Professional Soccer Stadium to Be Built in Queens, NY

New York City Mayor Eric Adams and the New York City Football Club (NYCFC) announced that a new, 25,000-seat professional soccer stadium will be built in Queens, NY. The new stadium, which is expected to cost $780 million, will be built in the Willets Point area of Queens (see rendering below). The site is very close to Citi Field (home of MLB's NY Mets) and the USTA Billie Jean King National Tennis Center (location of the annual US Open Tennis tournament). According to a NYC press release, the project is projected to create 1,550 permanent jobs and 14,200 construction jobs. It is expected to be completed by 2027...

Beacon President's Message, October 2022

I hope your fall is going well. October is a great month here in the Boston area. Foliage is at its peak, the weather is crisp and clear, and there are plenty of great outdoor activities going on. On a beautiful Sunday earlier this month, my wife and I went to see the New England Patriots play the Detroit Lions at Gillette Stadium. It was a great all-around game by the Pats, who won 29-0, led by their rookie quarterback Bailey Zappe who did a fantastic job in his first NFL start. To top things off, the Patriots wore their vintage bright red uniforms and throwback helmets for the first time in many years, thanks to an NFL rule change (see photos here). However, what really made the day fun was watching the game with our long-time friends Pat and Marianne Tompkins.

The throwback uniforms and helmets featuring the old team logo ("Pat The Patriot") reminded me just how fast time flies by and how important it is to make the most of every day. The Patriots were wearing those same red uniforms when my friend Pat and I attended high school back in the 1980s. Faster than I would like, 35+ years have flown by, and Pat and I have both been working in the construction industry for 25+ years. Click below for full message and photos...

Industry News: Construction Booming in Boston Area

If you have visited the greater Boston area in the past two years, you most likely noticed one or more major construction projects underway or at least spotted some giant cranes looming in the distance. The city currently has many large construction projects underway, including major projects in the commercial, residential, educational, R&D, and public housing areas. The city's diverse economy is driving the need for new commercial space, particularly in the areas of biotech/life sciences, consulting, and technology. As a well-established center for higher education and a leading destination for young professionals seeking career opportunities in growing industries, the demand for residential space has also been growing fast. Click below for full article and project photos...

Kieran O'Connor Presents at 2022 Construction Financial Management Association (CFMA) Regional Conference

The Construction Financial Management Association (CMFA) 22nd Annual Mid-Atlantic Regional Conference was held September 24-26, 2022 in Cambridge, MD. This year, Beacon Vice President Kieran O'Connor was a speaker at the event, participating as part of a panel of Surety industry professionals. The panel members focused on all of the following areas: (1) Trends in Surety results Mid-Atlantic & Nationwide; (2) Outlook for Underwriting and performance and losses of Surety and Subcontractor Default Industries; and (3) Legal or claim trends.

Looking at the topic from the Construction Consultant's perspective, Kieran's portion of the presentation covered current trends in the U.S. Construction Industry, Surety Claims trends, and Solutions to current challenges...

Project Profile: Beacon Provides Surety Consulting Services for Coral Springs, Florida School Renovation

Beacon was retained by a leading Surety company to provide construction consulting / surety consulting services related to a school renovation project taking place in Coral Springs, Florida (part of the Broward County School District). Beacon's Florida team is taking the lead role in supporting the Surety by providing the following construction consulting services:

  • Cost to Complete Analysis
  • Surety Consulting (Project Support & Monitoring)
  • Construction Management Services

Click below for full article...

Beacon President's Message, September 2022

As I write this message, I am taking a week off to visit Ireland. My wife Laura and I are visiting with my extended family here, which is always a pleasure. Ireland is such a unique and fun country. If you have never visited, I highly recommend it. From its beautiful countryside, scenic coastline, quaint historic towns, dynamic cities, music, and culture, Ireland really has something for everyone. Most of all, Ireland's people are warm, friendly, and very funny.

One of the highlights of our trip was getting a tour of the historic Leinster House in Dublin, where the Irish government meets, including their Dáil Éireann (House of Representatives) and Seanad Éireann (Senate). Irish Senator Mark Daly was a fantastic tour guide (see full article for photos). Mark is currently head of Ireland’s Senate (and is a close friend of my cousin Tomas).

Thanks in part to its well-educated, tech-savvy workforce, Ireland has also become one of the leading business capitals of Europe. Major companies such as Facebook, Google, Microsoft, Apple, AirBNB, and PayPal all selected Ireland as the location for their European headquarters. Of course, let's not forget Beacon Consulting Group. We have had a presence here through our strategic partners for more than one year now...