Contractor Confidence up Despite Slow Recovery, Finds Marcum Commercial Construction Index

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The Marcum Commercial Construction Index for the first quarter of 2021 reports that the industry has yet to reach the broader economy’s pace of recovery despite elevated contractor confidence. The construction industry has added 917,000 jobs since May 2020, equivalent to roughly 82% of the jobs lost during the initial months of the pandemic. The index is produced by Marcum LLP’s national Construction Services group. “Despite the malaise characterizing a number of commercial real estate segments, contractor confidence increased steadily during the first quarter of 2021,” wrote Anirban Basu, author of the report and Marcum’s chief construction economist. “According to … Read more

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UK, U.S. Collaborate to Improve the Built Environment

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A memorandum of understanding has been announced between representatives for the United Kingdom and the USA, cementing a pledge to work together on the development of the U.S. National Building Information Management Program. Marking the next step in a two-year collaboration, the MoU will see the National Institute of Building Sciences work with experts from the UK’s Centre for Digital Built Britain on the development of a National BIM Program for the U.S., supporting international alignment on technical standards for the built environment. The US-UK collaboration has been enabled through the support of the UK’s Construction Innovation Hub. NIBS will … Read more

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Gilmore Construction, Kiewitt Partner on Montbello Freshlo Initiative

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The Montbello Organizing Committee’s board of directors has selected Kiewit, in partnership with Gilmore Construction, as the general contractors for the $55-million Montbello FreshLo Hub development located in Denver, Colorado. The FreshLo development plan was created by engaging with thousands of Montbello residents over three years, which resulted in the basis for the future creation of a large-scale project with a community-driven vision for healthy food, cultural arts, equitable economic development and affordable housing. With the construction contractors selected, Kiewit-Gilmore will work with the Montbello Organizing Committee and FLO Development Services to begin pre-construction and constructing the multi-use space. The … Read more

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Nonresidential Construction Spending in April Declines for 5th Straight Month, Reports AGC

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Nonresidential construction spending in April declined for the fifth-straight month to a two-year low as demand waned for numerous public and private project categories in the face of lengthening production and delivery times for materials, along with fast-rising prices for many items, according to an analysis of new federal construction spending data by the Associated General Contractors of America. Officials with the association urged the President and Congress to boost infrastructure investments, remove tariffs on key materials and take steps to address production and deliver backups for key construction supplies. “Both public and private nonresidential spending overall continued to shrink … Read more

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Report Provides Inside Look at Pandemic-Era Mentality of Small Builders

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While builders in the United States have seen record increases in revenue and net profit with homeowners seeking to improve their living environments because of the COVID-19 pandemic, 2022 predictions for the residential home building industry aren’t quite as positive. These findings were unveiled in the recent 2021 State of Residential Construction Industry report, which is sponsored by the Association of Professional Builders. More than 1,000 builders globally participated in the survey to provide deeper insights into the residential construction industry. Data from the report revealed that 2020 was a bumper year with 46.5% of respondents globally signing more contracts than in … Read more

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