CBG Begins Construction on 130 Monument
BALA CYNWYD, Pa.—CBG Building Company began construction today on 130 Monument, a 205-unit multifamily development on a three-acre site that will include a mix of studio, one-bedroom, and two-bedroom apartments. The five-story residential community is CBG's eighth project with developer Woodfield Development and third project in Pennsylvania since establishing its office in Wayne in 2017.
CBG Begins Construction on 130 Monument
"This is a unique, entitled, designed and effectively shovel-ready site," said Rick Rowland, development partner at Woodfield. "We're very happy with the opportunity and to be working again with our valued construction partner CBG Building Company that dug into this deal along with us to make it happen."
The preconstruction process for 130 Monument was unique in that Woodfield was interested in purchasing a shovel-ready parcel with a full set of plans that had already been submitted for a building permit. Beyond simply pricing out the project plans, CBG consulted on Woodfield's value-added redesign, incorporated preferred products and unit finishes, and informed a range of value engineering, mitigating project costs and in turn driving investment performance to the client.
Woodfield purchased the project, in part due to CBG's estimating and cost-saving design suggestions. CBG then helped architect Lessard Design incorporate the changes and resubmit the plans for a building permit.
"We are delighted to work on another project with Woodfield in the Philadelphia area after our success on The Smith," said Dave Brown, CBG vice president. "Though this project includes some construction challenges, such as a two-level cast-in-place podium and limited site access, we are confident in our team's ability to problem-solve and execute with our trusted trade partners."
Despite being shovel-ready, 130 Monument required substantial planning prior to construction as the site contains several layers of rock and areas of unstable soil. To clear the site, the team will detonate dynamite beneath layers of sandbags to excavate approximately 11,000 cubic yards of rock. Once completed, the team will then install 70 micropiles on the site's north elevation to mitigate unstable soil.
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About CBG Building Company
Through a relentless pursuit of innovation, a steadfast commitment to quality, and active collaboration with clients, CBG has been delivering award-winning communities from coast to coast for more than 20 years. CBG's professional construction team builds more than 4,000 homes each year, providing high-quality, responsive service backed by a significant bonding capacity and national resources. CBG's experience spans a diverse portfolio of geographic areas and product types, including luxury, mixed-use, and affordable housing apartments, as well as campus housing, military family communities, and senior living facilities. Together, we draw on the knowledge gained through building more than 88,000 housing units since 1999. For more information, visit www.cbgbuildingcompany.com.
About Woodfield Development
Launched in 2005, Woodfield Development engages like-minded investors, contractors, and creative partners and uses local knowledge and relationships to source the best contractors for each project. Woodfield has developed more than 30 communities so far, all of superior quality. Rather than a cookie-cutter approach, each project is custom-designed to be a welcome addition to the community and of lasting value. Though charting its own path, Woodfield's model is time-tested with profitable results for investors. For more information, visit www.woodfielddevelopment.net.
About Lessard Design
Lessard Design is an international architecture and planning firm committed to creating environments that inspire connection, collaboration, community, and commerce. Located in the greater D.C. area, the firm also has offices in Boston and India. Chris Lessard and the firm's award-winning designs have been featured in The New York Times, The Wall Street Journal, and The Washington Post, to name a few. Lessard Design understands global cultures are translated through designs sensitive to cultural geographies, communities, traditions, and values. Lessard firm leaders have experience working in nearly 20 countries with projects in the Americas, Asia, and the Middle East. Lessard's diverse international team provides the expertise to manage clients through all design phases, from feasibility to construction. For more information, visit www.lessarddesign.com.