Tag: commercial building

September 11, 2023

The commercial component of the index, which includes retail, warehouse and office, dropped 1.6% in August, while the institutional sector, encompassing healthcare and education projects, tumbled 14.8%. On a positive note, the DMI remained 4% higher than in August 2022. […]

February 24, 2023

A full year of higher interest rates will cause 2023 to be a slower year for construction activity, said Vornado CEO Steven Roth during the call. “Steel, concrete and curtain walls are important, but in our business, capital is the […]

February 17, 2023

The firm’s backlog measured $4.5 billion at the end of 2022, a $475 million, 11.8% increase from a year earlier. That amount included $1.7 billion, a company record, from the firm’s California group. In Granite’s home state, the firm said […]

February 17, 2023

After December’s numbers posted lower results, Ken Simonson, chief economist at the Associated General Contractors of America, warned that lower costs could be short-lived. “Some prices have already turned higher in January,” Simonson said last month. “Contractors are right to […]

February 3, 2023

Apartment developers are getting creative in order to keep the construction pipeline flowing amid construction and capital challenges. Four of the developers leading those efforts described their approach to continue building new housing in a session at the 2023 NMHC […]

February 2, 2023

The top 10 metropolitan areas accounted for 40% of all commercial and multifamily starts in the U.S., up from 37% in 2021, according to the report. Commercial and multifamily starts consist of office, stores, hotels, warehouses, commercial garages and multifamily […]

January 23, 2023

The move provides local governments with several avenues to speed up the construction permitting process, according to the release. For instance, the law also includes a more streamlined bidding process to contract with private inspection agencies or enter into shared […]

January 17, 2023

Skanska USA, the American arm of the Sweden-based contractor and developer, has announced a slew of new projects. They are: On Jan. 10, Skanska announced it had won the $480 million contract to build a new Jamaica Bus Depot. The […]

December 21, 2022

Construction’s per capita rate of worker deaths is not the highest among industries. The agricultural, fishing, forestry and hunting industry averaged 19.5 deaths per 100,000 full-time employees and the transportation and warehousing rate equaled 14.5. Nevertheless, some of the construction […]

December 7, 2022

Tech slowdowns continue to affect the commercial construction market, particularly the outlook for the U.S. office market. Technology companies accounted for 40.5% of all leasing activity through the third quarter of 2022. That means hiring freezes and slower growth expectations […]

December 6, 2022

MSCI is only one of the sources pointing to a slowing apartment sales market this fall. Lending for apartments decreased by 16% year over year in the third quarter, according to the Mortgage Bankers Association’s Quarterly Index of Commercial/Multifamily Mortgage […]

September 13, 2022

Unlike other sectors such as manufacturing, the construction industry hasn’t realized significant productivity gains through the implementation of technology. Indeed, construction has averaged just 1% productivity growth in the past 20 years, according to the NIBS release. The BIM process […]

August 25, 2022

As legal theater, the long trial of two engineering firms for their role in the Flint, Mich., water crisis ended with a thud. A federal jury in Ann Arbor, Mich., earlier this month deadlocked and the judge declared a mistrial. […]

July 28, 2022

Despite ongoing challenges like shortages of key materials and labor, rising prices and higher interest rates, the pandemic recovery continues for the construction industry. Growth morphed this year beyond warehouses and single-family housing to include improvement in other commercial sectors […]

June 29, 2022

Construction will wrap at the end of September on a $35-million renovation and expansion of Second Line Stages, a film and TV production facility in the heart of New Orleans, and those involved say effective communication and collaboration played an […]

April 20, 2022

There is more to providing architectural services to a client than just design. There is value in managing a client’s assets and helping them get the most bang for their buck long-term. That is part of what we do at […]

April 6, 2022

Minority and women-owned business participation on construction projects has become a hot-button topic. Many government-funded projects set participation goals for underrepresented groups, while the industry has tried to change its White-guys-only image with diversity and inclusion initiatives. Hal Goldsmith, assistant […]

April 5, 2022

Officials in North Miami Beach, Fla., evacuated a five-story apartment building April 4 after an engineering survey revealed excessive deflection in multiple floor slabs. The owners of Bayview 60 Homes, a 60-unit structure alongside a canal in the city’s Eastern […]

March 10, 2022

The objective of the memo is to create good-paying jobs, with the choice to join a union, for workers in traditionally underserved communities, according to a joint statement from DOL and DOT released this week. But it also said it […]

March 7, 2022

The Federal Highway Administration (FHWA) recently released a report to Congress showing the agency’s efforts to widely implement a Complete Streets design model across the country. According to a news release from FHWA, the goal of the Complete Streets design […]