July 23, 2024

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Contractors file $16M of liens on Royal Caribbean’s Miami headquarters project

3 min read

Dive Brief:

  • Contractors have filed $15.eight million truly worth of mechanics liens on the stalled $three hundred million Royal Caribbean Cruises headquarters expansion in Miami, according to Miami-Dade County public records. Of those people providers that have filed liens, two contractors have been paid a complete of $230,493, leaving an unpaid harmony of practically $15.six million as of Aug. 24.
  • Baker Concrete Development has the major active lien towards the Royal Caribbean task, situated at the Port of Miami, in the amount of practically $eleven.seven million, adopted by Kenneth Brest, a sub-subcontractor employed by Baker. Brest has filed liens totaling practically $2.seven million. Other active lienholders are Gancedo Lumber, which statements it is owed $eighty four,434, and Keller North The usa, which claims it is owed additional than $one.one million. 
  • Undertaking developer CBRE and general contractor Plaza Development introduced the begin of development on what Royal Caribbean characterised as Miami’s “to start with accurate corporate campus” last summer season. In March, on the other hand, Royal Caribbean introduced it had halted development thanks to the coronavirus pandemic.

Dive Perception:

Development Dive attained out to Royal Caribbean about the liens but had not received a response by push time. 

Through the company’s next-quarter 2020 earnings call earlier this thirty day period, Richard Fain, Royal Caribbean CEO and president, said all funds initiatives had been postponed or canceled as the cruise field waits to “get past this epidemic.”

The enterprise recently introduced that it secured a $seven-hundred million financial loan facility from Morgan Stanley but said the proceeds, if drawn, would be applied for general corporate applications. There was no precise point out of shelling out past thanks expenses on the headquarters task in Miami.

Royal Caribbean reported a $one.3 billion modified web decline immediately after acquiring to cancel all its cruises in the next quarter. 

When asked about the mechanics liens filed towards the assets, Plaza agent Jorge Moros did not verify the lien quantities but confirmed to Development Dive that Royal Caribbean had asked them to cease perform. 

“The functions are doing work alongside one another to amicably solve all issues arising from the stoppage of the perform,” he said.

If the HQ task moves ahead immediately after the pandemic has operate its training course, the 350,000-square foot, ten-story place of work building will allow Royal Caribbean to double its workforce in Miami. Facilities at the new intricate will incorporate a exercise middle, various sport courts, a soccer discipline, a parking garage and electric car chargers. 

In May possibly, notice and lien services service provider Levelset reported that mechanics lien filings in the U.S. had increased by 40% from January by way of March 2020. At the time, enterprise CEO Scott Wolfe said contractors were being likely preserving on their own specified the unsure nature of the coronavirus distribute and its outcome on their initiatives and customer payments.

In accordance to Justin Gitelman, written content partnerships coordinator at, the company’s most the latest lien details exhibits that the quantity of mechanics liens that U.S. contractors filed in May possibly and June fell a little — 5,810 to five,525 respectively — but the complete value of liens increased from $469 million to $472 million. Preliminary July details implies that the quantity of liens filed has also diminished, he said, as perfectly as the complete amount.

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