Ken Noel
Director of design/build services at TCI

What is "turnkey?"

"(The contractor) basically owns the building; you're designing it to (the customer's) criteria. The intent is for (the customer) to have the building, but the idea is you own it, you finance it, you put the project together. You may either lease it back to them at the end of the project or they may just simply get a loan for the purchase of the building. Because a lot of people can't obtain the financing for the construction loan, but they could obtain the financing to buy a building."

What is construction management?

"You have a construction manager because no one trusted whether the architect represented the owner correctly or whether the contractor was representing the owner correctly, so you add a third party. ... If we do construction management, invariably we'll do all multiple primes. So in effect we are the general contractor because we have to manage all the prime contracts."