6 must reads for the AEC industry today: July 27, 2020

1. Customized labs give universities a recruiting edge (BD+C)
"When Andrew Labov began his career with CO Architects in 1987, it wasn’t all that rare for universities to customize their labs for specific users. But over the years the cost of construction and renovation became prohibitive, so universities made their lab spaces as flexible as possible."

2. A hybrid learning approach could redefine higher education (BD+C)
"Chris Purdy, AIA, LEED AP, Vice President and Higher Education Practice Director for SmithGroup, anticipates a “widespread acceptance” of the hybrid learning format. He adds that campus de-densification will require rapid, data-driven strategic planning. Erin Joseph Machau, Jacobs’ Higher Education Market Leader, sees these trends inevitably leading toward more modular and flexible design."

3. Putting 'home' at the heart of affordable housing (GBBN)
"Home is a powerful thing. It’s the place that forms you, a guiding set of relationships, memories, and experiences that, for better or worse, make you who you are. Home is also essential to developing our potential. Without a stable home, we have little prospect to be educated, advance in meaningful work, and nurture our loved ones."

4. The U.S. construction pipeline remains robust through the first half of 2020, despite pandemic (Lodging Econometrics)
"Projects currently under construction stand at 1,771 projects/235,467 rooms, up 3% and 1% respectively, YOY."

5. Occupancy in Senior Housing Hits 15-Year Low on Pandemic Fears (Bloomberg via National Real Estate Investor)
"In the second quarter, occupancy at independent living and assisted living facilities declined by 2.8 percent."

6. Post-COVID-19, Could This Be the Next Hot CRE Asset? (Commercial Property Executive)
"Though many are working from home now because of stay-at-home orders, eventually there will be a return to offices—and people want to be safe getting there."

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Multifamily Housing | Feb 7, 2023

Multifamily housing rents flat in January, developers remain optimistic

Multifamily rents were flat in January 2023 as a strong jobs report indicated that fears of a significant economic recession may be overblown. U.S. asking rents averaged $1,701, unchanged from the prior month, according to the latest Yardi Matrix National Multifamily Report.

Market Data | Feb 6, 2023

Nonresidential construction spending dips 0.5% in December 2022

National nonresidential construction spending decreased by 0.5% in December, 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 $943.5 billion for the month.

Architects | Jan 23, 2023

PSMJ report: The fed’s wrecking ball is hitting the private construction sector

Inflation may be starting to show some signs of cooling, but the Fed isn’t backing down anytime soon and the impact is becoming more noticeable in the architecture, engineering, and construction (A/E/C) space. The overall A/E/C outlook continues a downward trend and this is driven largely by the freefall happening in key private-sector markets.

Hotel Facilities | Jan 23, 2023

U.S. hotel construction pipeline up 14% to close out 2022

At the end of 2022’s fourth quarter, the U.S. construction pipeline was up 14% by projects and 12% by rooms year-over-year, according to Lodging Econometrics.

Products and Materials | Jan 18, 2023

Is inflation easing? Construction input prices drop 2.7% in December 2022

Softwood lumber and steel mill products saw the biggest decline among building construction materials, according to the latest U.S. Bureau of Labor Statistics’ Producer Price Index.

Market Data | Jan 10, 2023

Construction backlogs at highest level since Q2 2019, says ABC

Associated Builders and Contractors reports today that its Construction Backlog Indicator remained unchanged at 9.2 months in December 2022, according to an ABC member survey conducted Dec. 20, 2022, to Jan. 5, 2023. The reading is one month higher than in December 2021.

Market Data | Jan 6, 2023

Nonresidential construction spending rises in November 2022

Spending on nonresidential construction work in the U.S. was up 0.9% in November versus the previous month, and 11.8% versus the previous year, according to the U.S. Census Bureau.

Industry Research | Dec 28, 2022

Following a strong year, design and construction firms view 2023 cautiously

The economy and inflation are the biggest concerns for U.S. architecture, construction, and engineering firms in 2023, according to a recent survey of AEC professionals by the editors of Building Design+Construction.