Misplaced Pages

#737262

17-483: According to an October 2003 press release, the city of Lincoln purchased an 8.2-mile (13.2 km) railway segment for $ 605,000. Construction began in May 2006, the groundbreaking ceremony took place in mid-June 2006, and the trail itself was slated to open in late October 2006. The majority of the trail runs directly through Wilderness Park , a wooded area covering more than 1,475 acres (5.97 km), which already featured

34-525: A bulldozer is used instead of a shovel to mark the first day of construction. In some groundbreaking ceremonies, the shovel and the bulldozer mark the first day of construction. In other places, this ceremony can be replaced by a "laying of the first stone" event. When used as an adjective, the term groundbreaking may mean being or making something that has never been done, seen, or made before; "stylistically innovative works". Groundbreaking ceremonies have been celebrated for centuries in an attempt to begin

51-462: A sod-turning ceremony , is a traditional ceremony in many cultures that celebrates the first day of construction for a building or other project. Such ceremonies are often attended by dignitaries such as politicians and businesspeople . The actual shovel used during the groundbreaking is often a special ceremonial shovel, sometimes colored gold, meant to be saved for subsequent display and may be engraved . In other groundbreaking ceremonies,

68-480: A "recreational" (dirt) trail system of over 22 miles (35 km). The Jamaica North trail connects to the Homestead Trail, which will ultimately extend 72 miles (116 km) from Lincoln's Haymarket District to Marysville , Kansas . The trail's surface is composed of crushed limestone and asphalt . The Jamaica North Trail follows the path of an abandoned Union Pacific Railroad segment which ran through

85-431: A "wall raising" in 1997 to draw attention to the start of their building project. Another developer from Santa Monica hosted a "bottoming out" party to mark the completion of their parking garage's lowest level. A Hollywood developer, TrizecHahn , practiced another unconventional ceremony. The company hosted a costly groundbreaking event for its $ 350-million Hollywood & Highland entertainment-retail project. The event

102-490: A different purpose. Today, the celebratory serves as a business activity for building interest in a new project/building. The ceremony generates positive press and regards those who are significant to the development and its overall scope. Usually, the project developer organizes groundbreaking ceremonies to attract clients and reflect positive impacts on the community, customers/clients, and employees. Often such ceremonies also incorporate speeches by people of influence, like

119-491: A popular destination for weddings and conferences along with vacationing guests. In July 2010, The Guardian Life Insurance Company of America took a "substantial" but non-controlling interest in Lowe Enterprises Investors. The insurance company also agreed to provide Lowe Enterprises with $ 200 million for investment purposes. Lowe said it would seek to purchase or invest in distressed or undervalued properties in

136-839: The Baltimore Sun that the company had "record earnings" in 1997, 1998, and 1999. Lowe also claimed that institutional investors tended to see a return of 20 percent to 25 percent in the 1990s. In 2002, the National Association of Industrial and Office Parks (NAIOP) named Lowe Enterprises its Developer of the Year. By 2009, the company had expanded into managing properties for wealthy investors and corporations, and its Lowe Enterprises Investors (formerly LEIM) subsidiary had more than $ 4 billion in assets under management. Overall, Lowe Enterprises had about 150 employees nationwide that same year. Lowe's sons, Robert Lowe, Jr. and Michael Lowe, joined

153-514: The United States in 2013. Lowe was founded in Los Angeles , California in 1972 by Robert J. Lowe, Sr. and three business partners as a diversified real estate investment, management, and development firm. Since its inception, it has developed, managed or acquired $ 32 billion in assets. In the early 1970s, Lowe formed Destination Hotels & Resorts to manage hotels and resorts it developed. In

170-431: The 1980s, the company branched out into "distressed properties", ones whose financial backers were having trouble meeting debt and operating payments. In 1990, the firm expanded into investment management, forming Lowe Enterprises Investment Management, an SEC registered investment advisor. As a privately held company , Lowe Enterprises does not report its revenues or profits. However, in 2000, Robert J. Lowe, Sr. told

187-468: The construction of a property, thanking those who made it possible. Though adapted to modern times, these ceremonies are still important to the construction industry. Early ceremonies were rooted in religion; by now, their basic foundations have still stood the test of time. Initially, some offerings/refreshments were also used to offer in such ceremonies, including; The first documented groundbreaking ceremony took place in ancient China , in 113 BC. Later,

SECTION 10

#1732880606738

204-528: The firm. Lowe debuted its 102-acre Terranea Resort at the site of the former MarineLand theme park in Rancho Palos Verdes on the Southern California Coast in 2009. The failure of Corus Bank, the construction lender for the resort, left Terranea in challenging financial condition for its first year of operation. Refinancing in 2010 put the resort on firm financial footing and it has become

221-648: The founder of the company, a celebrity , or a known politician/member of the community. The sole purpose of such speeches is to showcase how a company is working, growing, meeting its mission, and/or reflecting on its vision, the company's struggles, and future plans. To create a lasting impression of the company and the ceremony, some common supplies, including shovels, hardhats, etc., are given to participants/attendees. Nowadays, real estate companies are trying different approaches to their groundbreaking ceremonies to stand out among their competitors and draw media attention. A Los Angeles developer Lowe Enterprises , hosted

238-480: The historic town of Jamaica, Nebraska, near Saltillo Road. 40°41′50.79″N 96°41′18.19″W  /  40.6974417°N 96.6883861°W  / 40.6974417; -96.6883861 This article about transportation in Nebraska is a stub . You can help Misplaced Pages by expanding it . Groundbreaking Groundbreaking , also known as cutting , sod-cutting , turning the first sod , turf-cutting , or

255-803: The hotel, industrial, office, and retail sectors. In 2018, Lowe sold its interest in Lowe Enterprises Investors to Guardian and LEI senior executives and LEI rebranded. Lowe continues its own investment activities with joint venture partners. In 2016, Destination Hotels merged with Commune Hotels & Resorts to form Two Roads Hospitality in partnership with GEOLO Capital, doubling the size of Lowe's hotel and resort portfolio. In late 2018, Lowe and its partner sold Two Roads Hospitality to Hyatt Hotels Corporation for more than $ 450 million. Lowe also sold its interest in Lowe Enterprises Investors to its partner, The Guardian Life Insurance Company of America. Lowe Enterprises generates some funds of its own for real estate investment. However, most of its financing comes from

272-419: The tradition of symbolically consecrating the project's location became a part of Hindu, Taoist, Shinto, Buddhist, and Feng Shui traditions. Historically, these are some notable events that were inaugurated by groundbreaking ceremonies. The reason for holding groundbreaking ceremonies in today's modern world has nothing or little to do with religion. Today, the western world exercises this old-age practice with

289-409: Was served by Music producer Quincy Jones and catered by the famed chef Wolfgang Puck . Lowe Enterprises Lowe is a real estate investment firm based in Los Angeles . Since its founding, the company has acquired, constructed, or managed more than $ 21 billion in real estate assets. Its subsidiary, Destination Hotels & Resorts , was the third largest hospitality management company in

#737262