Construction Industry Employment Hits Five-Year High, Reports AGC

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Construction industry employment reached a five-year high in August as the sector added 20,000 jobs and its unemployment rate fell to 7.7 percent, the lowest rate for August in seven years, according to an analysis by the Associated General Contractors of America. Association officials cautioned, however, that the latest figures reinforce survey results the association recently released showing many contractors are having a tough time finding enough qualified workers. “Construction employment growth has been accelerating and is broad-based,” said Ken Simonson, the association’s chief economist. “The increase in the past 12 months was the largest since 2006 and was spread … Read more

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Gilbane's Summer Construction Economics Report Predicts Strong Industry Growth Could Be Slowed by Skilled Labor Shortage

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PROVIDENCE, R.I. — Gilbane Building Company announced the Summer 2014 edition of its in-house economics report, Building for the Future – Construction Economics: Market Conditions in Construction. The report predicts rapid growth coupled with the lack of skilled, experienced labor and the ability to meet schedule will be some of the most important industry issues to address over the next few years. “The good, if not, great news is that the most favorable, forward-looking conditions support expectations for strong industry growth in 2015,” said Ed Zarenski, a Gilbane estimating executive with more than 40 years in the construction business. “Very … Read more

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Sale of Woodbury’s CityPlace Finalized

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WOODBURY, Minn. — The joint venture comprising Florida-based Elion Partners and Minnesota’s Kraus-Anderson announced it has acquired the 100-acre, mixed-use site located at the southeast corner of Radio Drive and Interstate 94. With a new identity and name, the partnership has plans to renovate, reposition and retenant the existing office building as it transforms the parcel into CityPlace, a 700,000-square-foot, mixed-use campus with shopping, restaurants, a hotel and additional office space. “After 18 months of pursuing the necessary approvals, we are very excited to pass this milestone and move forward with the next phase of CityPlace,” said Juan DeAngulo, managing … Read more

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Ground Broken for New Home of the Braves

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ATLANTA, Ga. — The new Home of the Braves has its name: SunTrust Park. Committed to building the communities they serve, Atlanta-based SunTrust Banks, Inc. and the Atlanta Braves announced a partnership for the naming rights of the new Home of the Braves, slated to open in the spring of 2017. The development will be the first of its kind — a destination that combines a state-of-the-art major league baseball ballpark with a simultaneously constructed multi-use community including unique shops, restaurants, offices and residences. The name of the park was announced in conjunction with a groundbreaking held Sept. 16. Developed … Read more

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C.W. Driver Begins Construction on 460,000 SF Fountainview at Gonda in West L.A.

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LOS ANGELES, Calif. — C.W. Driver has begun construction on Fountainview at Gonda West Los Angeles Westside Campus in Califronia. Situated on 2.5 acres in the Playa Vista neighborhood, the 460,000-square-foot continuing care retirement community will provide more than 500 seniors with a full range of active living, healthcare and in-home services. Designed by Gensler, the $100-million complex will feature 175 luxurious apartment units for independent living, as well as 24 assisted living and memory care units. Construction is scheduled for completion in 2016. Designed to blend comfort and elegance in a resort-like setting, the complex will feature one- and … Read more

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