Category: Financial

October 19, 2023

Nonresidential construction continues to lead construction spending in New York City, said Esposito. The federal government’s investment in infrastructure, along with resilient sectors such as healthcare, life sciences, manufacturing, data centers and transportation, will continue to create opportunities, he said. […]

October 2, 2023

Spending levels remained mostly positive among large nonresidential segments, according to the Associated General Contractors of America construction spending report. Manufacturing-related spending continues to lead the way, posting a 1.2% uptick in August, according to the report. Spending on power, […]

September 27, 2023

Financial services firm Flex raised $120 million in a Series A equity and debt financing round, according to a Sept. 19 press release. The firm raised $20 million in equity capital, led by Tampa, Florida-based Florida Funders. San Francisco-based investment […]

September 15, 2023

An extreme jump in diesel fuel costs in August drove the overall increase in materials prices, according to a separate analysis from the Associated General Contractors of America. Most other commodity prices remained relatively unchanged, according to AGC officials. “The […]

September 6, 2023

Insurance companies offer discounts to lower-risk clients who meet certain requirements. One of the easiest ways to take advantage of this is to deploy construction site cameras on the job site, which can help mitigate risk while providing a whole […]

September 5, 2023

Construction spending levels in July suggest “no letup in demand for construction workers or private-sector projects,” said Associated General Contractors of America Chief Economist Ken Simonson in the group’s own spending report. Still, Simonson continues to caution that progress on […]

August 28, 2023

The Construction Market Forecasting Service (CMFS) 2023 second quarter edition predicted that starts would rise 2% in 2023. That level of growth is minuscule compared with 2022, when total construction starts rose 15% from the previous year. One risk the […]

August 15, 2023

Legislation passed since 2021, including the Infrastructure Investment and Jobs Act, Inflation Reduction Act and the CHIPS and Science Act, collectively authorized federal investments of nearly $1.9 trillion over a period of years and spurred additional investments from the private […]

July 13, 2023

Many contractors say mounting financing issues aren’t slowing the pace of new construction in their markets, even as developers convert certain projects to modular to avoid cumbersome banking requirements. For example, Kelley Barcuch, an Arlington, Texas-based project consultant for Technology […]

July 5, 2023

Spending in the manufacturing sector ticked up 1% in May, and remains up more than 76% year over year. Meanwhile, office construction, which includes the booming data center sector, inched up close to 1% in May and remains up 6.7% […]

June 28, 2023

The U.S. now is the most expensive country for construction, says the latest global cost analysis by U.K. professional services consultant Turner & Townsend, with six cities among the list’s top 10—dislodging London and Hong Kong for the first time. […]

June 22, 2023

The construction industry is a dynamic and intricate sector that requires precise financial management to thrive in today’s competitive landscape. Therefore, accurate accounting processes are not just necessary; they are a strategic advantage for construction companies looking to maximize profitability […]

June 12, 2023

In May, Miami-based real estate investment firm Participant Capital Advisors announced the launch of its latest fund, the Participant Capital Sun Belt Multifamily Development Fund 1. It targeted $250 million in commitments to allocate to multifamily development projects in the […]

June 6, 2023

In an industry with low project margins, a high level of unpredictability, and fierce competition (both domestic and international), it does not take much to turn a profitable project into a loss-making project, putting the whole business at risk. That […]

May 23, 2023

Nationwide, schools anticipate a burst of federally funded upgrades to facilities this summer. That’s in part due to loosening of backlogged projects and summer break, which makes school construction easier in the absence of most students and staff. Congress approved […]

May 9, 2023

On the surface, the recent collapses of Silicon Valley Bank, Signature Bank and First Republic Bank shouldn’t harm the multifamily sector as much as other commercial real estate asset classes. Recent data from research firm MSCI shows that local and […]

April 21, 2023

“The financial burden of material and labor has always been difficult to quantify, the full extent a bit hazy. Knowing that subcontractors spent an extra $97 billion almost feels like putting a face to a name,” the report reads. “For […]

April 20, 2023

Tutor Perini subsidiary Lunda Construction has won a $62 million interstate bridge repair contract to shore up the 43-year-old I-494 crossing over the Minnesota River in Bloomington, Minnesota, according to a news release. The Minnesota DOT tapped Lunda for pavement […]

April 17, 2023

Signs point to decreased construction activity in coming months as financing costs for many developers have become prohibitively high, sources told Construction Dive. For example, increased interest rates are making construction projects more risky and less profitable, said Nicolas McNamara, […]

April 13, 2023

The flow of Infrastructure Investment and Jobs Act funds rolls on, with the Federal Highway Administration’s award of $295.7 million from the law’s Bridge Investment Program. The grants, announced on April 13, went to nine projects–five urban and four rural–which […]