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6 must reads for the AEC industry today: May 15, 2020

Nonresidential construction employment sees record loss and Twitter will keep all of its office space.

May 15, 2020 |

1. KPF designs three-building San Jose office campus (BD+C) 
"The project will be adjacent to Google's planned eight million square foot transit village and Diridon Station."

2. Nonresidential construction employment sees record loss in April (ABC) 
"The construction unemployment rate was 16.6% in April, up 11.9 percentage points from the same time last year."

3. European cities to revamp transportation after pandemic reopening (BD+C)  
"In Milan, the city core will be partly remodeled to turn over 22 miles of road space previously used by cars to bikes and pedestrians. Cars in the city center will be required to adhere to a new, reduced 30 kilometers per hour speed limit."

4. ‘Too early to write the epitaph’ for office real estate, UBS analyst says (CNBC) 
"In a new forecast, CBRE predicts that after hitting $35.66 per square foot per year in the first quarter of 2020, the average office rent will hit a low of $33.23 in the fourth quarter and then gradually recover by the first quarter of 2022."

5. Class A meet plan B: How the coronavirus could impact NYC’s newly built office space (Commercial Observer)
"The outlook for new office space just got a whole lot more complicated."

6. Twitter Says It’s Keeping All Its Office Space, Despite Forever Work-From-Home Policy (Bisnow)
"Twitter may be allowing all its employees to work from home forever, but it doesn't have any plans to reduce its office footprint, the company told Bisnow Thursday."


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