1. New Sydney towers will have the world’s first AI-driven facade system (BD+C)
"The project will comprise approximately 1.6 million sf of office and retail space and be one of the most sustainable commercial developments in Australia, powered by 100% renewable energy, with workplace environments that integrate nature and a range of amenities."
2. LA’s Greek Theater restoration completes (BD+C)
"The renovation project for the 90-year-old theatre began in 2015 after the Greek Revival-inspired architecture began to lose its historic luster."
3. Covid-19 and campus life: Where do we go from here? (LS3P)
"Functioning as towns and cities within greater communities, higher education institutions uniquely provide comprehensive services to students, faculty, and staff as well as local municipalities including academic, research, workplace, residential, wellness, healthcare, food service, transportation, and entertainment facilities and services."
4. ASCE seeks comments on seismic standard (BD+C)
"ASCE’s second public comment period on the update to ASCE/SEI 43-XX Seismic Design Criteria for Structures, Systems, and Components in Nuclear Facilities will be held from August 7, 2020 to September 21, 2020. Changes to the standard were made by a committee after the first public comment period."
5. Universities face half-empty student housing as fall semester approaches (Bisnow)
"Fall is approaching, and universities around the country are mobilizing their resources to manage the return of students to campus during an active pandemic. Many will not return full time, opting instead for a hybrid of in-person and online learning."
6. Busted retailers use bankruptcy to break leases by the thousands (Bloomberg via National Real Estate Investor)
"Chains from J. Crew to Ann Taylor are using bankruptcy filings to avoid protracted negotiations with individual landlords."
Related Stories
Contractors | Apr 11, 2023
The average U.S. contractor has 8.7 months worth of construction work in the pipeline, as of March 2023
Associated Builders and Contractors reported that its Construction Backlog Indicator declined to 8.7 months in March, according to an ABC member survey conducted March 20 to April 3. The reading is 0.4 months higher than in March 2022.
Market Data | Apr 6, 2023
JLL’s 2023 Construction Outlook foresees growth tempered by cost increases
The easing of supply chain snags for some product categories, and the dispensing with global COVID measures, have returned the North American construction sector to a sense of normal. However, that return is proving to be complicated, with the construction industry remaining exceptionally busy at a time when labor and materials cost inflation continues to put pricing pressure on projects, leading to caution in anticipation of a possible downturn. That’s the prognosis of JLL’s just-released 2023 U.S. and Canada Construction Outlook.
Market Data | Apr 4, 2023
Nonresidential construction spending up 0.4% in February 2023
National nonresidential construction spending increased 0.4% in February, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $982.2 billion for the month, up 16.8% from the previous year.
Multifamily Housing | Mar 24, 2023
Average size of new apartments dropped sharply in 2022
The average size of new apartments in 2022 dropped sharply in 2022, as tracked by RentCafe. Across the U.S., the average new apartment size was 887 sf, down 30 sf from 2021, which was the largest year-over-year decrease.
Multifamily Housing | Mar 14, 2023
Multifamily housing rent rates remain flat in February 2023
Multifamily housing asking rents remained the same for a second straight month in February 2023, at a national average rate of $1,702, according to the new National Multifamily Report from Yardi Matrix. As the economy continues to adjust in the post-pandemic period, year-over-year growth continued its ongoing decline.
Contractors | Mar 14, 2023
The average U.S. contractor has 9.2 months worth of construction work in the pipeline, as of February 2023
Associated Builders and Contractors reported today that its Construction Backlog Indicator increased to 9.2 months in February, according to an ABC member survey conducted Feb. 20 to March 6. The reading is 1.2 months higher than in February 2022.
Industry Research | Mar 9, 2023
Construction labor gap worsens amid more funding for new infrastructure, commercial projects
The U.S. construction industry needs to attract an estimated 546,000 additional workers on top of the normal pace of hiring in 2023 to meet demand for labor, according to a model developed by Associated Builders and Contractors. The construction industry averaged more than 390,000 job openings per month in 2022.
Market Data | Mar 7, 2023
AEC employees are staying with firms that invest in their brand
Hinge Marketing’s latest survey explores workers’ reasons for leaving, and offers strategies to keep them in the fold.
Multifamily Housing | Feb 21, 2023
Multifamily housing investors favoring properties in the Sun Belt
Multifamily housing investors are gravitating toward Sun Belt markets with strong job and population growth, according to new research from Yardi Matrix. Despite a sharp second-half slowdown, last year’s nationwide $187 billion transaction volume was the second-highest annual total ever.
Contractors | Feb 14, 2023
The average U.S. contractor has nine months worth of construction work in the pipeline
Associated Builders and Contractors reports today that its Construction Backlog Indicator declined 0.2 months to 9.0 in January, according to an ABC member survey conducted Jan. 20 to Feb. 3. The reading is 1.0 month higher than in January 2022.
