Tag: financial

March 31, 2017

A Barclays representative told Bloomberg that “the story for the year” will be “rebuilding infrastructure.” Included in this year’s major bond issues is the new $4 billion LaGuardia Airport terminal, a 1.3 million-square-foot, 35-gate facility that public-private partnership head Skanska […]

March 27, 2017

Port authorities and transportation departments all over the country are complete with or in the process of upgrading their bridges to be able to accommodate the larger post-Panamax ships designed for the new $5.4 billion Panama Canal expansion. Some ports […]

March 24, 2017

RentCafe projected that New York City (21,000), Los Angeles (20,000) and Washington, DC (18,000), are also set to add a significant number of apartment units in 2016. RentCafe reported that 51% of all new units are one-bedroom, followed by two-bedrooms […]

March 23, 2017

Finance providers can now use specialised software to operate in the construction sector, which was traditionally a ‘no-go zone’ for commercial lenders, due to its risks and complexities. This breakthrough comes as the result of recent developments carried out by […]

March 21, 2017

As a result of the ongoing labor shortage, 48% of surveyed companies said they have increased pay for hourly craft workers, 48% have ramped up in-house training, and 47% have added more overtime hours. One of the most concerning results […]

March 16, 2017

On the heels of six out of seven months of increasing levels of demand for design services, the Architecture Billings Index (ABI) fell just below the positive mark. As a leading economic indicator of construction activity, the ABI reflects the […]

December 16, 2016

The BLS revised July’s employment numbers down from a 14,000-job gain to only an 11,000-job gain. Between April and August, the construction industry lost 25,000 net jobs after adding 68,000 between January and March, according to the Associated Builders and […]

December 14, 2016

Slower growth in the general economy, brought on by seemingly mounting national and international vulnerabilities, is putting downward pressure on the construction industry, whose sectors expanded last year by 20% or more but are moderating to single-digit growth levels. That’s […]

December 12, 2016

Year over year, total jobs in architectural and engineering services were up 2.1%, an increase similar to that of last month, and ConstructConnect added that employment in building material and garden equipment stores was up 4.1%. The general construction industry […]

December 9, 2016

The SolarCity plant is part of Gov. Andrew Cuomo’s Buffalo Billion initiative, which has directed significant investment into the Buffalo-area economy and is projected to create 1,500 local jobs and 5,000 state jobs over the next 10 years. The program […]

December 8, 2016

The $2.5 billion redevelopment of the Century Plaza Hotel secured its construction financing. The roughly $1 billion in dough came from a consortium led by a $446 million senior loan from J.P. Morgan Chase, $120 million in mezzanine financing from […]

December 8, 2016

UW officials, under pressure from facilities workers and their union to increase maintenance staffing, said the $1 billion also includes complete overhauls and upgrades of mechanical and building systems, so hiring more employees won’t fix the problem. UW, like many […]

November 28, 2016

Washington, D.C.’s NoMa (North of Massachusetts Avenue) neighborhood is the most active in the city for construction activity as developers turn the formerly light industrial area on the city’s northeast side into a hive of mid-rise office towers, apartments and […]

November 18, 2016

In May, the team announced that it had chosen PCL Construction as the general contractor for construction of the Gensler-designed stadium, which will feature a soccer museum, office and conference space, restaurants, retail and a semi-transparent canopy. At the time […]

November 18, 2016

According to BLS data, nonresidential specialty trade contractors saw the most month-over-month growth, adding 8,900 jobs (3.3%) since June, while residential specialty trade contractors had the biggest year-over-year surge at 5.1% (90,700 jobs). In fact, the remaining BLS categories of […]

November 16, 2016

Pennsylvania House Bill 1060 (Act 89), signed into law in late 2013, increases state transportation investment by up to $2.4 billion over a five-year period through various gas and business tax initiatives. According to a 2015 American Road and Transportation […]

November 15, 2016

Sacramento officials, who approved construction of the new arena in 2014, said they hope it will revitalize the downtown area. According to local Sacramento news station KCRA, the arena project has already drawn in hotel and office developers, who have expressed interest […]

October 4, 2016

This case is just the latest round of high-profile construction defects cases brought against homebuilders operating in Florida. In February, KB Homes, the sixth-largest homebuilder in the U.S. paid $23.5 million to the Florida attorney general’s office to settle claims […]

October 3, 2016

The CTA, however, is not the only transportation authority facing significant challenges when it comes to rail projects. The scramble for enough money to achieve even a small percentage of the necessary repairs and upgrades needed to fix crumbling roads […]

September 6, 2016

Nonresidential construction spending inched 0.3 percent lower in July largely due to a significant upward revision to June’s spending figure, according to analysis of U.S. Census Bureau data released today by Associated Builders and Contractors (ABC). Nonresidential spending totaled $701.4 […]