Construction Costs Increase as Markets Remain Active

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According to Turner Construction Company’s quarterly Building Cost Index, construction activity during the Fourth Quarter 2018 has remained at a high level across the United States. Turner Construction Company announced that the Fourth Quarter 2018 Turner Building Cost Index—which measures costs in the non-residential building construction market in the United States—has increased to a value of 1120. This represents a 1.36 percent quarterly increase and 5.86 percent yearly increase from the Third Quarter 2018 and Fourth Quarter 2017, respectively. “For the Fourth Quarter, the escalation on raw and fabricated materials continue,” said Attilio Rivetti, the Turner vice president responsible for … Read more

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Ryan Companies to Develop New Project in Pullman Crossings

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Ryan Companies US Inc. will develop and build a 400,000-square-foot speculative industrial project in the historic Chicago, Illinois community as part of their master-planned Pullman Crossings business park. The new project is part of the more than 50-acre industrial park planned with Chicago Neighborhood Initiatives. Pullman Crossings is located on the largest undeveloped land site within 20 minutes of the Chicago Loop and is accessible to rail and toll-free interstates. Building specifications include 36-foot clear height, 56-foot bays, up to 120-dock positions with dedicated trailer parking and proposed Class 6b incentives. Construction will begin on the new speculative building in … Read more

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Dodge Momentum Index Recovers in January

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The Dodge Momentum Index rose 4.7 percent in January to 157.7 (2000=100) from the revised December reading of 150.6. The momentum index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. January’s increase reflected similar gains for the two components of the momentum index – institutional building, up 5.0 percent; and commercial building, up 4.6 percent. The January increase essentially reverses December’s decline, and brings the overall momentum index back to November’s … Read more

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Sundt Breaks Ground on Southeast Arlington Recreation Center

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ARLINGTON, Texas – Sundt Construction, Inc. recently broke ground on the Southeast Arlington Recreation Center located in Arlington, Texas. The 39,000-square-foot recreation center will sit on a 12.8-acre site and wll include a gymnasium, fitness and weights area, aerobics and dance studio, classrooms and childcare area. The project also includes an outdoor aquatics feature, adventure playground, skate park and walking trails. The project is expected to be completed in 2020.

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Nonresidential Building Spending to Grow through 2019, Cautious Outlook for 2020

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WASHINGTON, D.C. – Nonresidential construction spending on buildings is projected to grow by 4.4 percent through 2019, according to a new consensus forecast from The American Institute of Architects. Healthy gains in the industrial and institutional building sectors have bolstered growth projections for 2019; however, the AIA Consensus Construction Forecast Panel—consisting of leading economic forecasters—is suggesting that a broader economic downturn may be materializing over the next 12-24 months. Learn more about this Consensus Construction Forecast online. “Though the economy has been performing very well recently, trends in business confidence scores are red flags that suggest a slowdown is likely … Read more

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