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 | Feb 9, 2021

Construction Backlog and contractor optimism rise to start 2021, according to ABC member survey

Despite the monthly uptick, backlog is 0.9 months lower than in January 2020.

Market Data | Feb 9, 2021

USGBC top 10 states for LEED in 2020

The Top 10 States for LEED green building is based on gross square feet of certified space per person using 2010 U.S. Census data and includes commercial and institutional projects certified in 2020.

Market Data | Feb 8, 2021

Construction employment stalls in January with unemployment rate of 9.4%

New measures threaten to undermine recovery.

Market Data | Feb 4, 2021

Construction employment declined in 2020 in majority of metro areas

Houston-The Woodlands-Sugar Land and Brockton-Bridgewater-Easton, Mass. have worst 2020 losses, while Indianapolis-Carmel-Anderson, Ind. and Walla Walla, Wash. register largest gains in industry jobs.

Market Data | Feb 3, 2021

Construction spending diverges in December with slump in private nonresidential sector, mixed public work, and boom in homebuilding

Demand for nonresidential construction and public works will decline amid ongoing pandemic concerns.

Market Data | Feb 1, 2021

The New York City market is back on top and leads the U.S. hotel construction pipeline

New York City has the greatest number of projects under construction with 108 projects/19,439 rooms.

Market Data | Jan 29, 2021

Multifamily housing construction outlook soars in late 2020

Exceeds pre-COVID levels, reaching highest mark since 1st quarter 2018.

Market Data | Jan 29, 2021

The U.S. hotel construction pipeline stands at 5,216 projects/650,222 rooms at year-end 2020

At the end of Q4 ‘20, projects currently under construction stand at 1,487 projects/199,700 rooms.

Multifamily Housing | Jan 27, 2021

2021 multifamily housing outlook: Dallas, Miami, D.C., will lead apartment completions

In its latest outlook report for the multifamily rental market, Yardi Matrix outlined several reasons for hope for a solid recovery for the multifamily housing sector in 2021, especially during the second half of the year.