Abbott Construction, STO Building Group Merger to Expand Geographic Reach

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Abbott Construction has merged with STO Building Group to become a member of the STO family of companies. The merger will allow both firms to leverage each other’s geographic reach to better serve clients with multiple locations and enhance the services and areas of expertise they can offer across that expanded footprint. Founded in 1983, Abbott is a West Coast commercial builder that works with clients in a variety of sectors such as healthcare, hospitality, education, nonprofit, retail and tenant interiors. Some of its most notable recent projects include the Mary Bridge Children’s Hospital and University of Puget Sound Welcome … Read more

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Dodge Momentum Index Posts Dip in October

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The Dodge Momentum Index fell 1.8% in October to 127.5 (2000=100) from the revised September reading of 129.8. 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. The commercial component of the momentum index lost 4.4% over the month, but the institutional component gained 3.3%. The momentum index has struggled to make consistent gains since passing its post-pandemic low in June. Economic growth has slowed over the past few months, … Read more

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Dodge Momentum Index Flat in May

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The Dodge Momentum Index moved a scant 0.1% lower in May to 129.2 (2000=100) from the revised April reading of 129.4. 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. The commercial component of the momentum index rose 1.0% during the month, while the institutional component dropped 1.9%. The resilience of the momentum index over the last two months has been remarkable in the face of the COVID-19 crisis … Read more

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Persistent Workforce Shortages Challenge Commercial Construction Industry

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The Q1 2018 USG Corporation + U.S. Chamber of Commerce Commercial Construction Index reveals nearly two-thirds of contractors are highly confident that demand for commercial construction will increase over the next year, however, continued concerns around labor shortages have put even greater pressure on the industry. To increase jobsite efficiency and improve labor productivity, increasingly more builders are turning to alternative construction solutions, like prefabrication and modularization. The Q1 Index indicates contractors turn to innovations such as prefabricated and modular building materials to create more efficient jobsites (89 percent), increase labor productivity (85 percent), drive cost savings (58 percent) and … Read more

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BAM Construction Begins Work on Second Paradise Building

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Construction group BAM has begun work on the second building at Paradise, Birmingham, Two Chamberlain Square in the United Kingdom. The 183,000-square-foot contemporary office building joins One Chamberlain Square in fronting the enhanced new public realm that will complete the first phase of the Paradise development. Between them, the speculative buildings offer more than 350,000 square feet of office and retail space and are due to be completed in late 2019. BAM, which was appointed back in 2017, will oversee a team of over 200 construction workers, which will deliver the building and erect two new tower cranes that will … Read more

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