Hospital construction costs for 2024

Data from Gordian breaks down the average cost per square foot for a three-story hospital across 10 U.S. cities.

Contractors

Nonresidential construction spending rises 0.2% in March 2024 to $1.19 trillion

National nonresidential construction spending increased 0.2% in March, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.19 trillion.

AEC Tech

Lack of organizational readiness is biggest hurdle to artificial intelligence adoption

Managers of companies in the industrial sector, including construction, have bought the hype of artificial intelligence (AI) as a transformative technology, but their organizations are not ready to realize its promise, according to research from IFS, a global cloud enterprise software company. An IFS survey of 1,700 senior decision-makers found that 84% of executives anticipate massive organizational benefits from AI.

Hotel Facilities

The U.S. hotel construction market sees record highs in the first quarter of 2024

As seen in the Q1 2024 U.S. Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of the first quarter, there are 6,065 projects with 702,990 rooms in the pipeline. This new all-time high represents a 9% year-over-year (YOY) increase in projects and a 7% YOY increase in rooms compared to last year.

Market Data | Mar 30, 2016

10 trends for commercial real estate: JLL report

The report looks at global threats and opportunities, and how CRE firms are managing their expectations for growth.

Market Data | Mar 23, 2016

AIA: Modest expansion for Architecture Billings Index

Business conditions softening most in Midwest in recent months.

Retail Centers | Mar 16, 2016

Food and technology will help tomorrow’s malls survive, says CallisonRTKL

CallisonRTKL foresees future retail centers as hubs with live/work/play components.

Market Data | Mar 6, 2016

Real estate execs measure success by how well they manage ‘talent,’ costs, and growth

A new CBRE survey finds more companies leaning toward “smarter” workspaces.

Market Data | Mar 1, 2016

ABC: Nonresidential spending regains momentum in January

Nonresidential construction spending expanded 2.5% on a monthly basis and 12.3% on a yearly basis, totaling $701.9 billion. Spending increased in January in 10 of 16 nonresidential construction sectors.

Market Data | Mar 1, 2016

Leopardo releases 2016 Construction Economics Report

This year’s report shows that spending in 2015 reached the highest level since the Great Recession. Total spending on U.S. construction grew 10.5% to $1.1 trillion, the largest year-over-year gain since 2007.

Market Data | Feb 26, 2016

JLL upbeat about construction through 2016

Its latest report cautions about ongoing cost increases related to finding skilled laborers.

Market Data | Feb 17, 2016

AIA reports slight contraction in Architecture Billings Index

Multifamily residential sector improving after sluggish 2015.

Market Data | Feb 11, 2016

AIA: Continued growth expected in nonresidential construction

The American Institute of Architects’ semi-annual Consensus Construction Forecast indicates a growth of 8% in construction spending in 2016, and 6.7% the following year.