Dodge Reports Construction Starts Show Additional Gains in June

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Total construction starts increased 6% in June to a seasonally adjusted annual rate of $641.4 billion. This marks the second consecutive monthly gain in construction starts following the COVID-19 induced declines in March and April. In June nonresidential building starts gained 6% and starts in the nonbuilding sector moved 27% higher. Residential starts, by contrast, fell 6% during the month. Through the first six months of the year, starts were down 14% from the same period in 2019. Nonresidential starts fell 22%, nonbuilding starts were down 14% and residential starts dropped 5%. For the 12 months ending in June 2020, … Read more

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Parish Episcopal School’s Noble Family Performing Arts Center Tops Out

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Later this month, the construction team and school will celebrate the topping out of the Noble Family Performing Arts Center at Parish Episcopal School’s Midway Campus in Dallas, Texas. The new performing arts center—part of a 55,000-square-foot campus expansion—will host student performances, community and milestone events, awards ceremonies and high-caliber speakers and cultural events. McCarthy Building Companies, Inc. broke ground on the project in November of 2019 and it is expected to be complete by spring of 2021. The Noble Family Performing Arts Center includes a 515-seat performance hall, 120-seat black box theater, rehearsal rooms, a film screening room and … Read more

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Construction Begins on Forsyth Pointe Mixed-Use Development in Missouri

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Construction has started on Forsyth Pointe, a mixed-use development in the central business district of Clayton, Missouri, the county seat of St. Louis County. McCarthy Building Companies, Inc. is the construction manager overseeing all construction work, including the delivery of self-perform concrete services on the cast-in-place building foundations, elevator cores and parking structure. Developed by US Capital Development and totaling nearly 1 million square feet, the Design-Build project includes two Class A office towers—the east tower at 10 stories and 265,000 square feet and the west tower at eight stories and 210,000 square feet—with more than 20,000 square feet of … Read more

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ABC’s Construction Backlog Indicator Rises in June; Contractor Optimism Grows

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Associated Builders and Contractors reported that its Construction Backlog Indicator rose to 8.1 months in June, an increase of 0.2 months from May’s reading. CBI is down approximately 8% from its June 2019 level. Every region except the Middle States experienced an increase in backlog in June compared to May, according to an ABC member survey conducted from June 20-July 1. Additionally, the survey indicates that confidence among U.S. construction industry leaders increased regarding staffing levels, profit margins and sales in June. Construction sales and staffing levels are expected to expand over the next six months, while profit margins are … Read more

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Monthly Construction Input Prices Rise in June, Says ABC

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Construction input prices rose 2.2% in June, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data released recently. Nonresidential construction input prices rose by 2.3% for the month. Among the 11 subcategories, six experienced monthly increases. The increase in prices was driven primarily by energy, with the largest increase coming from crude petroleum, which rose 71.9%. Unprocessed energy materials rose 16.8%, while the price of natural gas fell 18.4%. Softwood lumber experienced an 11.0% increase in June. “For many contractors, lack of demand for their services has emerged as the leading … Read more

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