St. Regis Chicago Defines Skyline in New 4K Time-lapse

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St. Regis Chicago, formerly known as Vista Tower, is one of the city’s newest residential buildings. The tower defines a new edge to the city in Lakeshore East. EarthCam has been working alongside Magellan Development Group since ground break in 2016 to document St. Regis Chicago from the ground up. The new 101-story luxury building will be the home to 393 condominiums and 192 hotel rooms. Watch the new 1.9-million-square-foot tower come to life in this time-lapse movie.

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Construction Input Prices Up 3% in March, 24% Year Over Year

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Construction input prices rose 2.9% in March, according to an Associated Builders and Contractors analysis of the U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input prices expanded 2.8% for the month. Construction input prices are up 24.4% from a year ago and 39.1% from February 2020, while nonresidential construction input prices are 25% and 39.2% higher. Natural gas prices are up more than 200% since the start of the pandemic, while crude petroleum prices are up more than 100% over that span. “Despite recent growth in the nation’s labor force participation rate, contractors continue to contend … Read more

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Construction Backlog Up, Contractor Confidence Down in March   

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Associated Builders and Contractors’ latest Construction Backlog Indicator has increased to 8.3 months in March, according to an ABC member survey. The reading is up .5 months from March 2021. ABC’s Construction Confidence Index readings for sales, profit margins and staffing levels declined in March. All three indices remain above the threshold of 50, however, indicating expectations of growth over the next six months. “Demand for construction services remains strong despite sky-high materials prices, skills shortages and elevated bids,” said ABC Chief Economist Anirban Basu. “ABC contractors indicate that demand will remain strong, with 65% of contractors expecting sales to … Read more

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JLL Launches 2022 Construction Outlook

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The construction industry entered 2022 alongside broad economic recovery from the COVID-19 pandemic, with an outlook tempered by record high materials costs, construction labor shortages and continuing supply chain disruptions. Hopes for a near-term return to normal were dashed by the Russian invasion of Ukraine late in the first quarter, as the conflict and global economic sanctions have further disrupted critical material markets. Additionally, the U.S. construction labor market is exceptionally tight, with notable wage growth and demographic shifts amidst increasing demand. How will all of this play out for construction over the coming year? JLL’s H1 2022 Construction Outlook … Read more

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Jennifer Macks Tapped to Expand Gilbane Building Company’s Global Design-Build Capabilities

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Jennifer Macks has been promoted to vice president and director of Design-Build at Gilbane Building Company. In this newly created position, she will lead the company’s Design-Build program, working in partnership with project teams across the company. After leading Gilbane’s internal Design-Build initiative for the last two years, Macks and her team have implemented procedures for Design-Build project delivery and begun development of a specialized training curriculum for employees. Since establishing this initiative in 2020, Gilbane has grown its volume of Design-Build work by 23%. She will continue to develop and implement Design-Build processes based on best practices, as well … Read more

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