Financial & Banking

The Exchange Development, Kalamazoo, MI

25K

ESAs Completed

120K

Acres Assessed

$6.8B

Construction Loans Monitored

Construction Services for new residential high-rise in downtown Kalamazoo.

THE PROJECT

The Exchange Building is a 12-story mixed-use development in the urban center of Kalamazoo, Michigan. The building includes 133 luxury apartments and commercial/retail space, including a rooftop restaurant and automobile parking for occupants and residents.  
The tower was constructed by Orion Construction at a cost of $53 million dollars and completed in the summer of 2019.

Our Role

AKT Peerless was retained by Chemical Bank as their construction consultant, providing construction analysis and construction monitoring during construction of The Exchange. AKT Peerless reviewed pay applications and monitored Quality Control by reviewing project plans, building permits, and third-party testing reports. During inspections, AKT Peerless evaluated the security of stored materials and identified any construction concerns that deviated from the plans and specifications. AKT Peerless also assessed Contractor Efficiency by reviewing the project budget and schedule.  

The Results

AKT Peerless’ comprehensive monitoring services provided Chemical Bank: Protection from liability exposure during the initial review of the construction documents. Recommendations for budgetary contingencies to account for unforeseen conditions. Recurring updates on any potential risks or modifications to the construction design throughout the construction. Assurance that the monthly disbursements of loan funds were not premature but were consistent with the appropriate project milestones.

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AKT offers environmental, economic development, construction and sustainability services that are tailored to the needs of each of our clients, private and public sector alike.

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