1. San Francisco’s Millennium Tower fix approved, moving forward (BD+C)
"After a two-year permitting and approval process, a fix is finally set to move forward with SGH as the engineer-of-record. SGH evaluated whether the building required structural reinforcement to restore its integrity or seismic resistance to original levels."
2. Two Indianapolis schools find new digs in a long-dormant factory (BD+C)
"The P.R. Mallory Building in Indianapolis was once where the Duracell battery was invented and patented. Vacant for decades, the 100-year-old building has been jolted back to life through an adaptive reuse project that converted the facility into new homes for the STEM-focused public charter school Purdue Polytechnic High School and Paramount Englewood Middle School."
3. 62% of metros shed construction jobs from June 2019 to June 2020 as Association calls for new infrastructure funding, other relief steps (AGC)
"New York City and Brockton-Bridgewater-Easton, Mass. have worst 12-month losses, while Austin and Walla Walla, Wash. top job gainers."
4. Crackdowns grow on construction firms that fail to follow COVID-19 guidelines (BD+C)
"Construction companies that don’t follow guidelines for social distancing, hand-washing, and other coronavirus-related precautions face court action, fines, and possible shutdowns. Many cities and counties have given 30-day grace periods, but some building departments say they will now crack down on scofflaws."
5. Construction costs decrease for first time in 10 years (Construction Dive)
"A variety of pandemic-related forces have caused construction costs to decline slightly for the first time in a decade, which could lead contractors to feel a pinch in profits."
6. White House scrambles on nursing homes as COVID-19 surges (Associated Press)
"Fearing another grim wave of nursing home deaths as COVID-19 cases rebound, President Donald Trump on Wednesday announced his administration will provide $5 billion to help facilities counter the virus."
7. US Single-Family Rent Growth Posts Significant Drop (Globe St)
"Prior to the pandemic, the national rental price growth had been a stable 3%."
Related Stories
Industry Research | Jan 23, 2024
Leading economists forecast 4% growth in construction spending for nonresidential buildings in 2024
Spending on nonresidential buildings will see a modest 4% increase in 2024, after increasing by more than 20% last year according to The American Institute of Architects’ latest Consensus Construction Forecast. The pace will slow to just over 1% growth in 2025, a marked difference from the strong performance in 2023.
Construction Costs | Jan 22, 2024
Construction material prices continue to normalize despite ongoing challenges
Gordian’s most recent Quarterly Construction Cost Insights Report for Q4 2023 describes an industry still attempting to recover from the impact of COVID. This was complicated by inflation, weather, and geopolitical factors that resulted in widespread pricing adjustments throughout the construction materials industries.
Hotel Facilities | Jan 22, 2024
U.S. hotel construction is booming, with a record-high 5,964 projects in the pipeline
The hotel construction pipeline hit record project counts at Q4, with the addition of 260 projects and 21,287 rooms over last quarter, according to Lodging Econometrics.
Multifamily Housing | Jan 15, 2024
Multifamily rent growth rate unchanged at 0.3%
The National Multifamily Report by Yardi Matrix highlights the highs and lows of the multifamily market in 2023. Despite strong demand, rent growth remained unchanged at 0.3 percent.
Self-Storage Facilities | Jan 5, 2024
The state of self-storage in early 2024
As the housing market cools down, storage facilities suffer from lower occupancy and falling rates, according to the December 2023 Yardi Matrix National Self Storage Report.
Designers | Dec 25, 2023
Redefining the workplace is a central theme in Gensler’s latest Design Report
The firm identifies eight mega trends that mostly stress human connections.
Contractors | Dec 12, 2023
The average U.S. contractor has 8.5 months worth of construction work in the pipeline, as of November 2023
Associated Builders and Contractors reported today that its Construction Backlog Indicator inched up to 8.5 months in November from 8.4 months in October, according to an ABC member survey conducted Nov. 20 to Dec. 4. The reading is down 0.7 months from November 2022.
Market Data | Nov 27, 2023
Number of employees returning to the office varies significantly by city
While the return-to-the-office trend is felt across the country, the percentage of employees moving back to their offices varies significantly according to geography, according to Eptura’s Q3 Workplace Index.
Market Data | Nov 14, 2023
The average U.S. contractor has 8.4 months worth of construction work in the pipeline, as of September 2023
Associated Builders and Contractors reported that its Construction Backlog Indicator declined to 8.4 months in October from 9.0 months in September, according to an ABC member survey conducted from Oct. 19 to Nov. 2. The reading is down 0.4 months from October 2022. Backlog now stands at its lowest level since the first quarter of 2022.
Multifamily Housing | Nov 9, 2023
Multifamily project completions forecast to slow starting 2026
Yardi Matrix has released its Q4 2023 Multifamily Supply Forecast, emphasizing a short-term spike and plateau of new construction.
