Mitchel Hochberg, founder of Spectrum, recently completed acquisition of the company from its parent firm, Skanska AB. The new company is called Spectrum Communities and will continue to focus on the development of luxury residential communities in the northeast.

The New York State Builders Association hired Marsh USA, a subsidiary of Marsh & McLennan, to help it set up its own insurance company. The move comes as building contractors throughout the state struggle to find affordable general liability insurance, or, in some cases, any such insurance at all. The 3,500-member association says the new insurance company will be owned, managed and controlled by its members.

LeChase Construction Services LLC, headquartered in Rochester, N.Y., has opened a new office in Schenectady, N.Y. The firm already has offices in Corning, N.Y., North Carolina and Florida. The new office will be managed by Jeff Cintula.

Greyhawk North America LLC, a Woodbury, Long Island-based construction management firm opened a new office in Manasquan, N.J. to better serve a major new client, the New Jersey School Construction Corp. Greyhawk will be managing renovation and new construction in the Long Branch, Keansburg and Manchester school districts.

The New York Institute of Finance, formerly located on the 17th floor of Tower Two of the World Trade Center, has finally relocated to two newly renovated floors at 1330 Ave. of the Americas. The new space, which takes up 20,000 sq. ft., includes offices, classrooms, and a pantry. The renovation, designed by Manhattan-based MJS Design Associates, cost approximately $1 million. The New York Institute of Finance was founded by the New York Stock Exchange in 1922 and is considered one of the world's leading financial training companies.