Construction Spending Falls with Declines in Residential, Nonresidential Activity Amid Growing Labor and Materials Shortages

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Total construction spending fell by 1.1% in June as spending on new housing and nonresidential projects declined compared to May, according to an analysis the Associated General Contractors of America released of federal spending data. Association officials said that the construction spending figures are being impacted as materials and labor shortages are slowing schedules and increasing the cost of construction. Construction spending, not adjusted for inflation, totaled $1.76 trillion at a seasonally adjusted annual rate in June. That figure was 1.1% below the upwardly revised May rate and 8.3% higher than in June 2021. Private nonresidential construction spending declined for the … Read more

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Topping-Out Reached for Radford University’s Artis Center for Adaptive Innovation and Creativity Project

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Skanska has topped out on Radford University’s new Artis Center for Adaptive Innovation and Creativity on July 22. Located in Radford, Virginia, the 178,000-square-foot building will replace the existing space for the College of Visual and Performing Arts and create interdisciplinary student spaces. CAIC represents the largest capital construction project in the history of Radford University in terms of total project funding and square footage. The new building will allow for the cross-disciplinary collaboration of educational programs in the arts, health sciences, and technology and will include facilities, such as: 500-seat performing arts theatre auditorium, fashion and interior design labs, health sciences … Read more

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Groundbreaking Ceremony Held for New North Ogden Public Safety Building

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Big-D Construction and partners including the city of North Ogden broke ground on a public safety building in Utah. The project, awarded to Big-D Construction and JRCA Architects in 2021, is a $12.4-million design-build project. At 25,000 square feet, the facility is a single-story building and will be home to the North Ogden Justice Court, police department, code enforcement, animal control and a new holding facility. Estimated completion on the building is slated for August 2023.

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Nonresidential Construction Spending Projected to Increase Through 2023

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Construction spending on buildings is projected to increase just over 9% this year and another 6% in 2023, according to a report from the American Institute of Architects. While the outlook for the broader economy has become more uncertain, the prospects for construction spending have improved since the beginning of the year. The outlook from the AIA Consensus Construction Forecast Panel, in its mid-year update, is more optimistic than what was projected at the beginning of the year, largely due to the extremely strong gains in the manufacturing category, as well as surprising strength in retail facilities. The industrial market … Read more

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Awards Submissions Open to Honor NYC’s Top Construction Projects

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The Building Trades Employers’ Association New York is hosting the 2022 Transformative Projects Awards Reception, celebrating construction projects reinvigorating and reimagining New York City. The winning projects with a long-term impact on New York City will be selected by BTEA NY’s executive committee and officers. Factors for consideration include the projects’ positive economic impact, sustainability, contributions to the vibrancy of the city and more. When & Where: Tuesday, Nov. 22 | Ziegfeld Ballroom, 141 W. 54th St., New York City Nominations: Nominate a project here: www.bteany.com/transformative-projects/.Submission deadline is Aug. 15.

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