Hospital construction costs for 2024

Data from Gordian breaks down the average cost per square foot for a three-story hospital across 10 U.S. cities.

Contractors

Nonresidential construction spending rises 0.2% in March 2024 to $1.19 trillion

National nonresidential construction spending increased 0.2% 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 $1.19 trillion.

AEC Tech

Lack of organizational readiness is biggest hurdle to artificial intelligence adoption

Managers of companies in the industrial sector, including construction, have bought the hype of artificial intelligence (AI) as a transformative technology, but their organizations are not ready to realize its promise, according to research from IFS, a global cloud enterprise software company. An IFS survey of 1,700 senior decision-makers found that 84% of executives anticipate massive organizational benefits from AI.

Hotel Facilities

The U.S. hotel construction market sees record highs in the first quarter of 2024

As seen in the Q1 2024 U.S. Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of the first quarter, there are 6,065 projects with 702,990 rooms in the pipeline. This new all-time high represents a 9% year-over-year (YOY) increase in projects and a 7% YOY increase in rooms compared to last year.

Market Data | Apr 13, 2021

ABC’s Construction Backlog slips in March; Contractor optimism continues to improve

The Construction Backlog Indicator fell to 7.8 months in March.

Market Data | Apr 9, 2021

Record jump in materials prices and supply chain distributions threaten construction firms' ability to complete vital nonresidential projects

A government index that measures the selling price for goods used construction jumped 3.5% from February to March.

Contractors | Apr 9, 2021

Construction bidding activity ticks up in February

The Blue Book Network's Velocity Index measures month-to-month changes in bidding activity among construction firms across five building sectors and in all 50 states.