Angelo Perrymen, CEO of Perryman Construction, has created his annual list of the top trends that will affect construction in the northeast region in 2018. “As we head into calendar year 2018, we are optimistic, especially in the hotel, pharmaceutical, public projects, and historical renovation," Perryman says. "Although there are mixed signals out there relative to the economy, infrastructure priority and rising interest rates, we are anticipating a positive year.”
Perryman sees the following trends unfolding:
1. More renovation and restoration
Everyone focuses on the new construction around town but we have a lot of great older buildings in need of renovation. Look for the renovation trend restoring the older buildings in Philadelphia.
2. Making education the priority solution to keeping Millennials in the City
Leaders worry about millennials moving to the suburbs. Philadelphia needs less talk and more action prioritizing education quality as a key solution to keeping millennials in the City. Perhaps the hurdle is feeling like we must do it all at once. We don’t. Look at the solution in 3 year segments. Focus on and fix the 3 years from K-2nd grade to start and then advance the program to the next 3 years and so on to match the millennials children getting older.
3. Using our hubs to attract national investment
Philadelphia will continue to organize itself by environments – science center, health, pharma, finance, Pennovation, etc. Leaders should use these hubs to attract national investment.
4. More mixed use buildings to be planned and built
More mixed use buildings will be planned as owners hedge risk by accommodating diverse uses and seeing which will be stronger.
5. More effective construction management techniques to offset potential negatives in the market
2018 should be a good year for construction but there are at least 4 things that can influence costs: energy, imported materials, competition for employees & interest rates. Construction companies that have become better managers will succeed in this environment.
6. More investment from outside the region
Outside investors are starting to realize what great value the Philadelphia region has for their projects. To sustain our skyline of cranes, Philadelphia must create a strong environment for building speculation as other cities have. Key catalysts include friendlier tax climate, more job-focused education opportunities to train our workforce in advance of projects coming in and government support facilitating permits and approvals.
Related Stories
Giants 400 | Aug 13, 2019
2019 Science + Technology Giants Report: Operational flexibility is a must for S+T buildings
The science and technology (S+T) sector is arguably the industry’s most complex because it caters to a diverse clientele with specific priorities and imperatives, according to Building Design+Construction's 2019 Giants 300 Report.
Giants 400 | Aug 8, 2019
Top 110 Office Sector Construction Firms for 2019
Turner, STO Building Group, AECOM, Clayco, and Clark lead the rankings of the nation's largest office sector contractors and construction managers, as reported in Building Design+Construction's 2019 Giants 300 Report.
Giants 400 | Aug 8, 2019
2019 Office Giants Report: Demand for exceptional workplaces will keep the office construction market strong
Office space consolidation and workplace upgrades will keep project teams busy, according to BD+C's 2019 Giants 300 Report.
Museums | Jul 29, 2019
A new museum debuts inside the Empire State Building
A $165 million, 10,000-sf museum opened on the second floor of the Empire State Building in New York City, completing the second of a four-phase “reimagining” of that building’s observatory experience, which draws four million visitors annually.
Multifamily Housing | Jul 23, 2019
Is prefab in your future?
The most important benefit of offsite construction, when done right, is reliability.
Healthcare Facilities | Jul 15, 2019
Can a kids’ healthcare space teach, entertain, and heal?
Standard building requirements don’t have to be boring. Here’s how you can inject whimsical touches into everyday design features.
BD+C University Course | Jul 8, 2019
Shadow box design: To vent or not to vent [AIA course]
A curtain wall shadow box is a spandrel assembly consisting of vision glass at the building exterior and an opaque infill at the interior side of the curtain wall system. This course is worth 1.0 AIA LU/HSW.
Contractors | Jun 26, 2019
Katerra launches apprenticeship program to help develop the future of construction
The program offers nationally recognized, portable construction trade credentials.
Building Tech | Jun 26, 2019
Modular construction can deliver projects 50% faster
Modular construction can deliver projects 20% to 50% faster than traditional methods and drastically reshape how buildings are delivered, according to a new report from McKinsey & Co.
Contractors | Jun 15, 2019
Turner tops off new classroom space at Middle Tennessee State University
The building includes a “command center” for training students to interact with emergency personnel.