Joint Ventures have been an extremely collaborative approach to undertaking and completing the tremendous amount of road and highway (FDOT) work that has been done in Florida over the past 25+ years. The size and complexity of many of the projects has required the joint efforts of two or more construction firms. A few examples would be I-4 in Orlando, a tri-venture; the 826/836 Interchange in Miami-Dade County, a tri-venture, and of course the 395 Signature Bridge contract in Miami-Dade County, a joint venture.
In some cases, contracting entities have joined forces to spread the financial risk or the various parties may come together for organization, technical or manpower advantages. Whatever the reasons for the various contracting entities uniting, the success of the projects completed under this contracting method is indisputable. It is likely that we will continue to see an escalation of joint venture work in our marketplace over the next decade as projects continue to grow in size and complexity.