Skanska has signed a contract with the University of Washington to build the school’s new Life Sciences building and greenhouse. The contract is worth $71 million. The new seven-story building will include more than 52,000 square feet of laboratory space and classrooms. Additionally, Skanska will construct approximately 4,500 square feet of new greenhouse space. Construction is under way with completion scheduled for summer 2018. Rendering courtesy of Perkins + Will.
Construction spending was mixed in October as a rebound in residential and public categories outweighed a downturn in most private nonresidential segments, according to a recent analysis by the Associated General Contractors of America. Association officials noted, however, that public investments in infrastructure remain down compared to last year while private-sector demand should remain robust amid continued economic growth. “It’s encouraging to see a rebound in public construction in recent months, but most infrastructure categories are down substantially over the past year,” said Ken Simonson, the association’s chief economist. “Meanwhile, private nonresidential construction still appears to have good prospects, assuming … Read more
WASHINGTON, D.C.– Construction backlog expanded during the third quarter, led by strong growth in the commercial/industrial sector, according to Associated Builders and Contractors’ recently released Construction Backlog Indicator. The increase during the third quarter follows two quarters of decline in backlog—the amount of work under contract but yet to be performed—that led to speculation that growth in the country’s nonresidential construction industry was slowing. Overall backlog expanded to 8.7 months, up 2 percent from the second quarter and 2.2 percent (0.2 months) on a year-over-year basis. “Despite growing concern that certain commercial segments in a handful of major U.S. cities … Read more
TEMPE, Ariz. – Sundt Construction, Inc. began construction this month to transform a surface parking lot into a 407-unit residential and retail mixed-use development in Tempe, Arizona. The yet-to-be-named project, previously known as University Square, covers an entire city block on the northwest corner of University Drive and Forest Avenue. The development will feature a cascading design with shorter portions of the building facing University Drive and 7th Street and taller elements located mid-block. The first tower will be 20 stories, and the second will be 12 with primarily studio, one-bedroom and two-bedroom apartments. The second tower will face 7th … Read more
WASHINGTON, D.C. – Construction input prices experienced their most rapid monthly decline since February 2016 in November, falling 0.5 percent according to the U.S. Bureau of Labor Statistics. Despite the month-over-month fall, input prices are up by 0.5 percent on a yearly basis for the second consecutive month. Nonresidential input prices fell 0.7 percent for the month but are up 0.4 percent on the year. Crude petroleum, natural gas and unprocessed energy materials prices have all risen significantly since November 2015. Only three key inputs prices—plumbing fixtures and fittings; nonferrous wire and cable and prepared asphalt, tar roofing and siding … Read more
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