The city’s construction slowdown has prompted Leeds United Construction — the construction management company which just finished Highline 519 in Chelsea — to expand its operations to include office, retail and
Paul Bonnar, president of Leeds United, said they
are in discussions with a number of owners of retail and commercial projects, but
“nothing has been signed yet” because they have been busy with
projects for developer Sleepy Hudson.
The company, which previously only dealt with residential buildings,
recently completed Sleepy Hudson’s luxury building Highline 519, at 519 West 23rd Street,
and is currently working on Five
Franklin Place in Tribeca. With the condo projects
slowing down, Bonnar said he saw the recession as an opportunity to diversify
the company’s projects.
“What we’re seeing is a slowdown in new construction in condo
development, and [we] decided to use it as an opportunity to expand,” Bonnar
In addition to new projects, Bonnar said there is a market out there for
projects in distress, where lenders may need to make a switch in contractors to
complete the project.
“We’re a small flexible group that can target specific projects, and
since we don’t have a backlog of existing projects that we’re spread thin on,
we’re able to come in and get projects done fast,” Bonnar said.