The AIA's monthly Architecture Billings Index ended the month of May with a score of 53.1, its highest mark in nearly a year, thanks to the robust multifamily housing market and solid demand for commercial and retail properties. This reading is sharply up from April's mark of 50.6, and is roughly on par with the year-earlier period. The ABI is a leading economic indicator of construction activity in the U.S. reflecting the nine- to 12-month lead time between architecture billings and construction spending nationally and regionally as well as by project type. Any score over 50 represents an increase in billings.
Texas Holds Largest U.S. Hotel Development Pipeline
Lodging Econometrics’ latest United States Construction Pipeline Trend Report reveals that Texas is the U.S. state with the largest hotel development pipeline. The Lone Star state currently boasts 673 projects and 72,747 guestrooms in development.
Contractor confidence down, but not out
Associated Builders and Contractors' (ABC) Construction Confidence Index (CCI) showed a slight dip in the second half of 2015, although all three components of the index showed optimism for continued economic growth. The diffusion index measures forward-looking construction industry expectations in sales, profit margins and staffing levels, with readings above 50 indicating growth.
Efficiency and Sustainability to Shape Future of Nonresidential Construction
Nonresidential Construction Market Momentum to Continue
Construction spending greatly exceeded expectations in the nonresidential market in 2015, and this year should see healthy growth levels as well. There continues to be significant demand for hotels, office space, manufacturing facilities and amusement and recreation spaces.
Nonresidential building starts and spending should see solid gains in 2016: Gilbane report
Spending on lodging construction should increase by 10.8% to $23.4 billion in 2016. Total spending on nonresidential building is projected to grow this year by 13.7% to $439.2 billion, according to Gilbane.
ABC: Nonresidential spending falls again in December
Nonresidential construction spending dipped for a second consecutive month, falling 0.4% on a monthly basis in December, according to analysis of U.S. Census Bureau data released by Associated Builders and Contractors (ABC). Nonresidential construction spending totaled $681.2 billion on a seasonally adjusted, annualized basis. November's nonresidential construction spending estimate was revised lower by 0.6% to $683.7 billion.
New Construction Means Rising Expectations For San Francisco’s Transbay District
Anyone who explores San Francisco’s Transbay district today encounters a slice of a city in flux. At one extreme, structural steel pushes toward the sky and straddles gridlocked streets. At the other, alleyways sprout life that would have been unimaginable a generation ago.
4 reasons the C-suite should care about design-led construction
Lou Astorino shares four examples how a unified approach can directly help C-suite leaders achieve their organizational goals. The planning and execution of major construction projects can be challenging and stressful endeavors for organizations. Whether it’s the expansion of an existing hospital, the renovation of a student center on a university campus or a brand new corporate headquarters, the potential for legal risk, financial loss and poor outcomes can keep company leadership up at night.
Authentic Synergized Design in the Live Work Play Environment
Current development practices have taken a marked turn away from putting all the proverbial “eggs in one basket” and are now focused on diversification and “placemaking.” Though the word is a bit overused in today’s master planning lexicon, placemaking describes the positive results that can arise from an authentic Live, Work, Play oriented project.
AIA: Architecture Billings Index hits another bump
As has been the case a few times this year, the Architecture Billings Index (ABI) dipped in November. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lead time between architecture billings and construction spending.
Disaster-proofing in modern business buildings: the revolutionary role of tech
Few would dispute that when confronted with Mother Nature’s awesome violence, human beings seem to be terrifyingly vulnerable and perishable creatures. While we share with other animals a mortal and easily-harmed body, one thing distinguishes humanity: a refusal to bow to fate. The human capacity for ingenuity has helped us manage some of the worst catastrophes nature has thrown at us, and engineers and architects have been especially innovative in developing daringly clever technologies and designs for buildings that can survive the tumults the earth and its occasionally savage climate hurls at them.
Building and Real Estate Companies Join Call for Action on Climate Change
As Paris readies for the COP21 International Climate talks, more than 50 building and real estate companies, including Thornton Tomasetti, Skanska and JLL, announced today that they have signed on to the Building and Real Estate Climate Declaration, a business call to action that urges policymakers to seize the economic opportunity of tackling climate change.
LEED: Better buildings are our legacy
What is LEED, and why is it important? Learn more about the green building rating system that is changing how millions of people live, learn, work and play.
Construction Spending Soars Year Over Year
Construction spending in September rose slightly from the previous month’s level but posted a much stronger gain from its year-earlier total, the Census Bureau has reported. The bureau’s latest monthly construction spending report, released on Nov. 2, showed that the volume of finished projects in September hit a $1.094-trillion annual rate, up 0.6% from August.