7 must reads for the AEC industry today: July 30, 2020

1. San Francisco’s Millennium Tower fix approved, moving forward (BD+C)
"After a two-year permitting and approval process, a fix is finally set to move forward with SGH as the engineer-of-record. SGH evaluated whether the building required structural reinforcement to restore its integrity or seismic resistance to original levels."

2. Two Indianapolis schools find new digs in a long-dormant factory (BD+C)
"The P.R. Mallory Building in Indianapolis was once where the Duracell battery was invented and patented. Vacant for decades, the 100-year-old building has been jolted back to life through an adaptive reuse project that converted the facility into new homes for the STEM-focused public charter school Purdue Polytechnic High School and Paramount Englewood Middle School."

3. 62% of metros shed construction jobs from June 2019 to June 2020 as Association calls for new infrastructure funding, other relief steps (AGC)
"New York City and Brockton-Bridgewater-Easton, Mass. have worst 12-month losses, while Austin and Walla Walla, Wash. top job gainers."

4. Crackdowns grow on construction firms that fail to follow COVID-19 guidelines (BD+C)
"Construction companies that don’t follow guidelines for social distancing, hand-washing, and other coronavirus-related precautions face court action, fines, and possible shutdowns. Many cities and counties have given 30-day grace periods, but some building departments say they will now crack down on scofflaws."

5. Construction costs decrease for first time in 10 years (Construction Dive)
"A variety of pandemic-related forces have caused construction costs to decline slightly for the first time in a decade, which could lead contractors to feel a pinch in profits."

6. White House scrambles on nursing homes as COVID-19 surges (Associated Press)
"Fearing another grim wave of nursing home deaths as COVID-19 cases rebound, President Donald Trump on Wednesday announced his administration will provide $5 billion to help facilities counter the virus."

7. US Single-Family Rent Growth Posts Significant Drop (Globe St)
"Prior to the pandemic, the national rental price growth had been a stable 3%."

See how your architecture, engineering, or construction firm stacks up against the nation's AEC Giants. For more than 45 years, the editors of Building Design+Construction have surveyed the largest AEC firms in the U.S./Canada to create the annual Giants 400 report. This year, a record 519 firms participated in the Giants 400 report. The final report includes 137 rankings across 25 building sectors and specialty categories.

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.