Real Estate & Construction News Roundup (6/24/26) – HUD to Fund AI Grants, Luxury Hotel Deal Investment Activity to Surge, ESPCs to Fund Energy and Infrastructure Improvements
July 06, 2026 —
Pillsbury's Construction & Real Estate Law Team - Gravel2Gavel Construction & Real Estate Law BlogIn our latest roundup, data centers are exposed to climate change, commercial tenant sues CoStar, cities see opportunities in emerging sports markets, and more!
- With deferred maintenance growing and capital dollars stretched thin, local governments are using ESPCs to fund energy and infrastructure improvements through future operational savings. (Vicky Uhland, Construction Dive)
- The U.S. Department of Housing and Urban Development is offering up to $3 million in grants for local governments to deploy automated permitting and building code systems. (Ryan Kushner, Construction Dive)
- Luxury hotel deals are set to see a surge in investment activity due to strong fundamentals and strengthening capital markets. (Noor Adatia, Hotel Dive)
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Pillsbury's Construction & Real Estate Law Team
Steel Cooling: Steel Costs Steadily Decline After Pandemic Price Shock
May 12, 2026 —
Construction ExecutiveSteel prices have continued trending downward after several years of volatility, according to Gordian’s latest analysis based on RSMeans Data. After dramatic spikes during the pandemic-era supply disruptions, the market has gradually stabilized as supply chains improve and demand softens in some construction segments. However, selective volatility and tariff uncertainty continue to influence pricing across the sector.
Key findings from the report include:
- Steel prices declining: The national average price of structural steel fell to about $2,343.93 per ton in January 2026, down 5.38% from the previous quarter and 7.18% year over year.
- Longer-term price correction: Steel costs have been trending downward since 2024 after earlier volatility driven by inflation, supply shortages and global demand swings.
Reprinted courtesy of
Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.
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GRSM Marks Seventh Anniversary as First and Only Full-Service Law Firm in All 50 States, Climbs to #70 on Am Law 100
April 20, 2026 —
Gordon Rees Scully MansukhaniGordon Rees Scully Mansukhani proudly celebrates the seventh anniversary of its becoming the first and only full-service law firm with offices and attorneys in all 50 states. Since launching its innovative 50-state platform in April 2019, GRSM has experienced extraordinary growth across markets, practices, and client relationships.
In the past seven years, GRSM has expanded its footprint with 20 new offices in both major and secondary markets and doubled its attorney headcount, growing from 940 to more than 2000 lawyers. This growth has propelled GRSM from the 40th to the 11th largest law firm in the United States, according to Law360, while also driving a significant rise on the Am Law 100 rankings, from #103 in 2019 to #70 in 2026. GRSM has served nearly half of the Fortune 500, a testament to its deep bench of lawyers and national capabilities.
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Gordon Rees Scully Mansukhani
Engineering Seals Versus Contracts ‘Under Seal’ (Two Very Different Things)
May 05, 2026 —
Melissa Dewey Brumback - Construction Law in North CarolinaRecently, I was asked by a reader to explain the difference between a document that is
‘sealed’ by an engineer (or architect) and one that is
signed ‘under seal’. This question prompted this post, as others may also be wondering about the distinction. [Hi Ed! Thanks for your question]
Professionals have ‘seals’ that show that they are registered (Engineers) or licensed (Architects). As most of you likely know, your professional seal is something that is hard won and which is used when—and only when—your plans were made by you or someone under your direct supervisory control. Your signature represents that you were in
responsible control over the documents, and that they have met the required professional standard of care. (21 NC Admin Code 2-0206 (a)(11)).
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Melissa Dewey Brumback, Ragsdale Liggett PLLCMs. Brumback may be contacted at
mbrumback@rl-law.com
Chambers USA Recognizes Hunton’s Insurance Coverage Practice in 2026 Guide
June 29, 2026 —
Hunton Insurance Recovery BlogHunton is pleased to announce that its insurance coverage practice was recognized nationally for Insurance: Dispute Resolution – Policyholder in the recently released 2026 Chambers USA guide. The team also received state rankings in Florida (Insurance: Dispute Resolution), Georgia (Insurance), the District of Columbia (Insurance: Policyholder), and Massachusetts (Insurance).
In addition to the insurance team’s group recognition across multiple states, the 2026 guide included individual rankings for
Lorelie “Lorie” S. Masters (USA Nationwide and District of Columbia),
Latosha M. Ellis (District of Columbia),
Michael S. Levine (District of Columbia),
Koorosh “KT” Talieh (District of Columbia),
Walter J. Andrews (Florida),
Andrea DeField (Florida),
Cary D. Steklof (Florida),
Lawrence J. Bracken II (Georgia), and
Geoffrey B. Fehling (Massachusetts).
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Hunton Andrews Kurth LLP
Doctrine of Substantial Performance When It Comes to Payment
July 27, 2026 —
David Adelstein - Florida Construction Legal UpdatesA recent non-construction case touches upon the doctrine of substantial performance when it comes to payment. In this case, a club was to make two payments to secure a rapper’s attendance. The first payment was made. The second payment was made but was a few hundred dollars short of the agreed amount. The rapper did not show up. The club claimed it substantially performed its obligations. At first glance, the argument makes sense because the second payment fell only a few hundred dollars short. But that wasn’t the case when it comes to pre-commencement payment obligations:
Substantial performance applies only when the variance from the contract terms “is inadvertent or unintentional and unimportant so that the work actually performed is substantially what was called for in the contract.” However, when one party agrees to pay the other on or before a specific date, time is of the essence, and the payor is required to pay the payee on or before that date. “There is almost always no such thing as ‘substantial performance’ of payment between commercial parties when the duty is simply the general one to pay. Payment is either made in the amount and on the date due, or it is not.”
Big Gate Records, LLC v. Washington, 51 Fla.L.Weekly D1281a (Fla. 2nd DCA 2026) (internal citations omitted).
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David Adelstein, Kirwin NorrisMr. Adelstein may be contacted at
dma@kirwinnorris.com
Arizona Court Enters $323 Million Judgment Against ZOM Living Following Unanimous Jury Verdict
May 26, 2026 —
Gray Development GroupPHOENIX, May 19, 2026 /PRNewswire/ -- A Maricopa County court has entered a $323 million compensatory damages judgment in favor of Gray Development Group against ZOM Holding Inc., doing business as ZOM Living, following a 12-day trial, a unanimous jury verdict and post-trial proceedings related to a proposed business transaction.
The jury found ZOM liable on claims of breach of contract and breach of the implied covenant of good faith and fair dealing stemming from a proposed joint venture tied to a planned pipeline of luxury multifamily and commercial projects in Phoenix and Scottsdale.
The lawsuit centered on a 13-project, $1.4 billion development pipeline originated and planned by Gray Development Group over more than a decade. In 2019, Gray invited Florida-based ZOM to participate in a joint venture involving the completion of five projects, which would have marked ZOM's entry into the Arizona market.
According to court findings presented at trial, the companies entered into a mutual confidentiality and non-circumvention agreement before Gray shared extensive sensitive and proprietary information related to the projects, including planning, market analysis, costs, financial data, local business relationships and operational strategies developed by Gray over decades in Arizona.
Evidence presented during trial showed that over a 10-month period while under contract, ZOM made hundreds of requests for confidential project and market information before circumventing Gray and pursuing the projects independently, ultimately displacing Gray from projects it spent years planning and developing.
ZOM Living, headquartered in Orlando, develops multifamily and senior housing communities across the United States and operates regional offices in Boston, Dallas, Fort Lauderdale, Nashville, Phoenix, and Raleigh. ZOM is owned by Timeless Investments, the Amsterdam-based family office of Dutch businessman Hans van Veggel, which acquired the company in 1997.
About Gray Development Group
Gray Development Group was founded by architect Bruce Gray in 1991. The Phoenix-based company was the top-ranked multifamily developer in Arizona for more than a decade. The company designed and developed more than 15,000 apartment and condominium units throughout metropolitan Phoenix. Two Gray-designed developments — a Tempe midrise and a San Diego high-rise — received National Apartment Community of the Year awards.
HDR Agreed to $12M Settlement With Miami Bridge Design-Build Team
May 12, 2026 —
Richard Korman - Engineering News-RecordHDR last year agreed to pay $12 million to the design-build construction contractor Archer Western-de Moya Group to settle its claims that the engineer had incompletely designed and under-designed Miami's new Signature Bridge when the joint venture committed to a fixed price prior to construction in 2018.
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Richard Korman, Engineering News-RecordMr. Korman may be contacted at
kormanr@enr.com