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
Industry Research | Apr 25, 2023
The commercial real estate sector shouldn’t panic (yet) about recent bank failures
A new Cushman & Wakefield report depicts a “well capitalized” banking industry that is responding assertively to isolated weaknesses, but is also tightening its lending.
Architects | Apr 21, 2023
Architecture billings improve slightly in March
Architecture firms reported a modest increase in March billings. This positive news was tempered by a slight decrease in new design contracts according to a new report released today from The American Institute of Architects (AIA). March was the first time since last September in which billings improved.
Contractors | Apr 19, 2023
Rising labor, material prices cost subcontractors $97 billion in unplanned expenses
Subcontractors continue to bear the brunt of rising input costs for materials and labor, according to a survey of nearly 900 commercial construction professionals.
Data Centers | Apr 14, 2023
JLL's data center outlook: Cloud computing, AI driving exponential growth for data center industry
According to JLL’s new Global Data Center Outlook, the mass adoption of cloud computing and artificial intelligence (AI) is driving exponential growth for the data center industry, with hyperscale and edge computing leading investor demand.
Healthcare Facilities | Apr 13, 2023
Healthcare construction costs for 2023
Data from Gordian breaks down the average cost per square foot for a three-story hospital across 10 U.S. cities.
Higher Education | Apr 13, 2023
Higher education construction costs for 2023
Fresh data from Gordian breaks down the average cost per square foot for a two-story college classroom building across 10 U.S. cities.
Market Data | Apr 13, 2023
Construction input prices down year-over-year for first time since August 2020
Construction input prices increased 0.2% in March, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics Producer Price Index data released today. Nonresidential construction input prices rose 0.4% for the month.
Market Data | Apr 11, 2023
Construction crane count reaches all-time high in Q1 2023
Toronto, Seattle, Los Angeles, and Denver top the list of U.S/Canadian cities with the greatest number of fixed cranes on construction sites, according to Rider Levett Bucknall's RLB Crane Index for North America for Q1 2023.
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.
