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 | Jul 17, 2019

Design services demand stalled in June

Project inquiry gains hit a 10-year low.

Market Data | Jul 16, 2019

ABC’s Construction Backlog Indicator increases modestly in May

The Construction Backlog Indicator expanded to 8.9 months in May 2019.

K-12 Schools | Jul 15, 2019

Summer assignments: 2019 K-12 school construction costs

Using RSMeans data from Gordian, here are the most recent costs per square foot for K-12 school buildings in 10 cities across the U.S.

Market Data | Jul 12, 2019

Construction input prices plummet in June

This is the first time in nearly three years that input prices have fallen on a year-over-year basis.

Market Data | Jul 1, 2019

Nonresidential construction spending slips modestly in May

Among the 16 nonresidential construction spending categories tracked by the Census Bureau, five experienced increases in monthly spending.

Market Data | Jul 1, 2019

Almost 60% of the U.S. construction project pipeline value is concentrated in 10 major states

With a total of 1,302 projects worth $524.6 billion, California has both the largest number and value of projects in the U.S. construction project pipeline.