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Featured project: The EsplanadePhoenix, AZ - December 16, 2002 The “Esplanade Luxury Condominiums” is a 14-story high-rise project with 54 semi-custom luxury units. The project began for Safeguard almost two years ago based on a long-term relationship with homebuilder Geoffrey Edmonds. The commercial systems for this project include: The residential systems for the project include: Safeguard became aware of the project through its relationship with the builder during discussions about security systems for the individual units. At the time Mr. Edmonds was unaware that Safeguard had a strong commercial construction capacity. Safeguard’s unique ability to perform a design-build function for all of the commercial low-voltage systems in the 14-story high-rise, as well as all electronic systems in each of the condo units, made it a convenient and cost-effective choice for the builder. What started off as a discussion about basic security systems for the project grew into a design-build contract that will eventually exceed $1.5 million. The only piece of the project that was not originally awarded to Safeguard was the home theater and AV systems for the units and the common public areas. These systems were awarded to a local retail/custom installer who also had a long-standing relationship with the builder. As the contract progressed Safeguard was called upon to resolve several design issues for the AV contractor. Late in the project the retail/custom installation company filed Chapter 7 bankruptcy, and Safeguard was awarded all audio/visual systems, including the individual unit home entertainment systems in order to complete the project. When the project is complete Safeguard will continue at the property providing the following services to the homeowners’ association: fire alarm system monitoring, unit security monitoring, high-speed Internet ISP services, HDTV DSS entertainment packages, card access management services and 24-hour guard services. In addition, Safeguard expects to establish long-term service and support services for the buildings’ complex systems. Following the purchase of Electronic Contracting and Design in 1997, Safeguard management has pursued the vision of developing a comprehensive contracting and services organization that could serve both commercial customers and residential customers. We have assumed all along that the two markets converge at the point that customers can have faith in our business’ ability to serve our customers at home and at work. The Esplanade project is an example of how a well-rounded and comprehensive organization can capture all of the systems and services in a combination (both commercial and residential) project. We are finding that developers and general contractors appreciate a one-stop shop that has developed the resources to perform. Safeguard has also learned that major commercial projects take an entirely different level of expertise, management and financial resources in order to be successful. Financing, bonding, design, and engineering capacities and experienced project management skills are elements that must be considered before tackling projects of this scope. In a case like this it’s critical to employ construction professionals who understand high-rise construction, can talk the language with other trades, and know how to look out for our interests. Staging and engineering expertise is a major concern in large commercial applications. From the beginning, Safeguard’s management has been careful to put all of the necessary resources in place (especially people) so that it would be a financial success and not detract from the day-to-day operations of the company. Safeguard is careful not to commit to any project that does not have strong profit potential, and we make sure that we have the potential for long-term relationships that will add value to recurring revenue business. |
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