In The News
FaverGray Awarded Contracts on New Three Projects
07.29.2008
JACKSONVILLE, July 29, 2008 - FaverGray, one of the fastest growing construction management companies in Northeast Florida, announced today that it has been awarded three new projects - two hotels and an apartment complex - with a total construction value of $18 million.
In Baytown, Tex., FaverGray has begun construction on a 4-story, 124-unit Value Place hotel. The developer of the 45,000-square-foot hotel is Dallas-based ValPlace Development LLC. The projected is scheduled for completion by February 7, 2009.
ValPlace Development has also selected FaverGray to build a similar-size Value Place hotel in Texas City, Tex., which is located about 25 miles south of Houston not from the Gulf of Mexico. A construction start date has not yet been set.
FaverGray Senior Project Manager Chuck Mitchell will be the project manager on both projects.
“These are our first projects in Texas,” noted FaverGray President Jim Gray. “This continues our expansion throughout the Southeast and Southwest.”
Jacksonville-based FaverGray is now operating in nine states: Florida, Georgia, North and South Carolina, Tennessee, Kentucky, Alabama, Indiana and Texas.
Meanwhile, in Gainesville, Fla., FaverGray was recently awarded the contract to build a 14-building, 168-unit apartment complex across the street from Sante Fe College. The Crossing at Santa Fe is being developed by the Collier Cos. FaverGray is scheduled to complete the project in 10 months.
Founded in 2005 by industry veterans Jim Gray and Keith Faver, FaverGray is a commercial general contracting company that provides specialized construction management services to real estate owners, developers and investors in the Southeast. The company focuses on the multi-family, hospitality and senior living sectors of the commercial real estate market.