Mortenson Raises Estimate for 2017 Chicago Construction Cost Increases to 4.5%

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CHICAGO, Ill. – With supplies of some key materials, equipment and labor tightening, Mortenson Construction has raised its estimate for nonresidential construction cost increases in Chicago, Illinois, for 2017 from 4 percent to 4.5 percent, the highest among the major markets that the national builder and developer tracks. This year’s increase follows a 2016 jump of 4.3 percent in Chicago, according to the Mortenson Construction Cost Index. “Chicago construction activity initially lagged other markets in recovering after the 2008 recession, but it has gradually caught up and is strong now,” said Dennis McGreal, chief estimator for Mortenson Construction’s Chicago office. … Read more

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Ribbon-Cutting Ceremony Held at Ultrastar Multi-tainment Center

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Harrah’s Cherokee Casino Resort, located in Cherokee, North Carolina, recently held a ribbon-cutting ceremony for its new bowling alley and entertainment addition. The facility opened to the general public on Sept. 1. The 53,000-square-foot Ultrastar Mutli-tainment Center at Harrah’s Cherokee Casino Resort will bring a bowling center with 24 lanes; 16 on the main level and eight on the second floor. Plus, the addition will offer a 3,300-square-foot arcade and a full-service restaurant, bar and an event stage for family friendly entertainment. Robins & Morton served as the general contractor and Brunswick Bowling Products served as the construction manager. Cornerstone … Read more

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Haselden Construction, Dawson School Kick Off Continued Campus Growth

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CENTENNIAL, Colo. – Over 150 people gathered on the green spaces around Dawson School’s campus (Lafayette, Colorado) last month to celebrate the groundbreaking of the new Dining Commons—and the kickoff of the first phase of an extensive campus improvement. Over the next two years, the team of Haselden Construction, Inline Management (owner’s representative) and Hord | Coplan | Macht (architect) are working together with Dawson School on four campus projects: the Dining Commons, the Innovation Center, Henderson Hall and “The Green.” Organized by Dawson School and Haselden, the community celebration brought together faculty, alumni, students and families, along with the … Read more

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National Construction Unemployment Rate Ticks Up to 4.9 Percent in July

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WASHINGTON, Wash. – The national not seasonally adjusted construction unemployment rate was 4.9 percent in July, up 0.4 percent from a year ago, but still the third lowest July rate on record—matching the July 2001 rate, the U.S. Bureau of Labor Statistics reported. Unemployment rates increased in 34 states on a year-over-year basis, but the construction industry employed 186,000 more workers than in July 2016, according to an analysis released today by Associated Builders and Contractors. Rates fell in 14 states and were unchanged in two. Because these industry-specific rates are not seasonally adjusted, national and state-level unemployment rates are … Read more

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Hidden Opportunities Merge from Construction Industry Challenges

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CHICAGO, Ill. – Growing materials costs and dwindling talent pools coupled with looming political and economic uncertainty are leaving construction leaders grappling with serious challenges. But where there is greater challenge comes greater opportunity. According to JLL’s latest report on United States construction activity. there is stability ahead with indicators showing a growing backlog of contractor work and seasonal construction spending up 5.7 percent year-over-year. But that’s not all. A closer look at the construction industry’s biggest challenges reveals some unexpected opportunities amidst the adversity. Challenge or opportunity? You decide. The seemingly interminable labor shortage. Construction unemployment continues to reach … Read more

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