1. IoT system helps contractors keep their distance on the jobsite (BD+C)
"Many contractors are asking themselves how social distancing can be executed practically on jobsites so their workers can operate safely. As expected, products are starting to emerge that address these concerns."
2. Multifamily market flattens as construction proposal activity sinks (The Jagg Group)
"Multifamily has consistently been one of the strongest performers among 58 submarkets measured in PSMJ Resources’ quarterly survey."
3. Is there a way to test for Covid-19 without PPE? (Shepley Bulfinch)
"We reimagined a premanufactured inflatable structure, shaped like a bubble and intended for pool covering, as a testing booth. The “Bubble” consists of fiber-reinforced vinyl, which acts as a protective layer, fully separating healthcare workers who are inside the structure administering the tests, from those being tested, who stand outside," writes Luke Voiland, AIA.
4. U.S. strip mall owners paid less than half of April rent (Financial Times via National Real Estate Investor)
“Commercial property researchers at Green Street Advisors told clients this weekend that strip mall landlords have been paid only between 30 percent and 50 percent of April rent, highlighting the scale of the disruption to real estate caused by the coronavirus shutdown."
5. Federal Reserve Announces New Lending Programs (AGC)
"On April 9, the Federal Reserve announced additional actions that include a new mid-sized lending program coming out of the Economic Stabilization Fund, as provided for in the CARES Act. The Fed created two new lending programs for businesses – the Main Street New Loan Facility and the Main Street Expanded Loan Facility."
Related Stories
Contractors | Jun 13, 2023
The average U.S. contractor has 8.9 months worth of construction work in the pipeline, as of May 2023
Associated Builders and Contractors reported that its Construction Backlog Indicator remained unchanged at 8.9 months in May, according to an ABC member survey conducted May 20 to June 7. The reading is 0.1 months lower than in May 2022. Backlog in the infrastructure category ticked up again and has now returned to May 2022 levels. On a regional basis, backlog increased in every region but the Northeast.
Industry Research | Jun 13, 2023
Two new surveys track how the construction industry, in the U.S. and globally, is navigating market disruption and volatility
The surveys, conducted by XYZ Reality and KPMG International, found greater willingness to embrace technology, workplace diversity, and ESG precepts.
| Jun 5, 2023
Communication is the key to AEC firms’ mental health programs and training
The core of recent awareness efforts—and their greatest challenge—is getting workers to come forward and share stories.
Contractors | May 24, 2023
The average U.S. contractor has 8.9 months worth of construction work in the pipeline, as of April 2023
Contractor backlogs climbed slightly in April, from a seven-month low the previous month, according to Associated Builders and Contractors.
Multifamily Housing | May 23, 2023
One out of three office buildings in largest U.S. cities are suitable for residential conversion
Roughly one in three office buildings in the largest U.S. cities are well suited to be converted to multifamily residential properties, according to a study by global real estate firm Avison Young. Some 6,206 buildings across 10 U.S. cities present viable opportunities for conversion to residential use.
Industry Research | May 22, 2023
2023 High Growth Study shares tips for finding success in uncertain times
Lee Frederiksen, Managing Partner, Hinge, reveals key takeaways from the firm's recent High Growth study.
Multifamily Housing | May 8, 2023
The average multifamily rent was $1,709 in April 2023, up for the second straight month
Despite economic headwinds, the multifamily housing market continues to demonstrate resilience, according to a new Yardi Matrix report.
Market Data | May 2, 2023
Nonresidential construction spending up 0.7% in March 2023 versus previous month
National nonresidential construction spending increased by 0.7% 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 $997.1 billion for the month.
Hotel Facilities | May 2, 2023
U.S. hotel construction up 9% in the first quarter of 2023, led by Marriott and Hilton
In the latest United States Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts report that construction pipeline projects in the U.S. continue to increase, standing at 5,545 projects/658,207 rooms at the close of Q1 2023. Up 9% by both projects and rooms year-over-year (YOY); project totals at Q1 ‘23 are just 338 projects, or 5.7%, behind the all-time high of 5,883 projects recorded in Q2 2008.
Market Data | May 1, 2023
AEC firm proposal activity rebounds in the first quarter of 2023: PSMJ report
Proposal activity for architecture, engineering and construction (A/E/C) firms increased significantly in the 1st Quarter of 2023, according to PSMJ’s Quarterly Market Forecast (QMF) survey. The predictive measure of the industry’s health rebounded to a net plus/minus index (NPMI) of 32.8 in the first three months of the year.