Turner Releases Third Quarter Building Cost Index

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Turner Construction Company has released its Third Quarter 2015 Turner Building Cost Index — which measures costs in the non-residential building construction market in the United States. The value has increased to 949, which reflects a 1.17 percent increase from second quarter 2015 and a 4.52 percent yearly increase from third quarter 2014. Reduced cost of fuel and manufactured components was offset by a continued increase in construction activity which drove an overall increase of costs in the third quarter. While the South and Northeast have seen steady growth in activity similar to that of the first two quarters of … Read more

Filed under: Economic News, News

Construction Spending in August Climbs to Highest Level, Fastest Growth

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Construction spending in August reached a seven-year high and climbed at the fastest rate since 2006, according to a recently analysis by the Associated General Contractors of America. Association officials noted that growing demand for construction was likely to add to the challenges many firms are having finding qualified workers. “There were widespread monthly and year-over-year gains in August for all major construction categories—private nonresidential, residential and public,” said Ken Simonson, the association’s chief economist. “Activity in all three categories has been accelerating recently and should continue rising into 2016—if contractors can find enough workers with the right skills to … Read more

Filed under: Economic News, News

FMI Revises 2015 Construction Growth Upward to 6%

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NEW YORK, N.Y. — Construction activities are forecasted to grow at 6 percent through 2015, up from the previous forecast of 5 percent in Q2, according to the Q3 FMI Construction Outlook recently released. Construction growth is not only predicted to rise this year, but is also expected to climb to 7 percent, reaching $1.09 billion in 2016, the highest total since 2008, unadjusted for inflation. However, as construction gets busier, productivity improvement becomes more of a challenge. The Q3 FMI Construction Outlook forecasts growth for 17 sectors, across residential, non-residential and non-building groups. Manufacturing continues to be the fastest-growing … Read more

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Construction Time-Lapse of Sempra Energy HQ in San Diego Available

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In celebration of Energy Action Month, EarthCam released its time-lapse of Sempra Energy's new headquarters in San Diego, California. Although construction of the 300,000-square-foot, 16-story building was documented for two years, you can watch the project from start to finish in just one minute. October marks Energy Action Month, created to focus on reducing energy consumption. Sempra Energy had a similar goal in mind when designing its headquarters, which is LEED Gold certified. Watch construction of the eco-friendly building with EarthCam's time-lapse. Click here to watch EarthCam's construction time-lapse of Sempra Energy's new HQ. Time-Lapse Courtesy of Earthcam: www.earthcam.net.

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Gilbane to Break Ground on Navy Federal Credit Union HQ Expansion

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ARLINGTON, Va. — Gilbane Building Company was awarded the Navy Federal Credit Union headquarters campus expansion project, designed by J3 Design Collective, in April of 2015 and is getting ready to break ground this fall. This expansion of Navy Federal Credit Union’s current campus includes a 235,000-square-foot office complex, an 1,100-car attached parking structure and a pedestrian bridge connecting the new structures to the existing campus. This expansion is expected to add 600 new jobs to Navy Federal Credit Union in Fairfax County. The project will border an active residential community, as well as the Washington and Old Dominion Trail. … Read more

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