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
BIM and Information Technology | Oct 29, 2015
MIT develops ‘river of 3D pixels’ to assemble objects
The Kinetic Blocks can manipulate objects into shapes without human interference.
Contractors | Oct 28, 2015
Office construction costs highest in New York City, San Francisco, says CBRE
A CBRE report found that New York’s construction costs are more than $500 per sf. San Francisco isn’t too far behind.
Contractors | Oct 16, 2015
ABC report: Confidence rises during the first half of the year
In the first half, sales expectations and profit margin expectations rose while staffing level intentions dipped slightly.
Contractors | Oct 7, 2015
Construction equipment continues to be vulnerable to theft
Poor security and lax inventory control make jobsites sitting ducks for robbers, according to crime-data analysis by LoJack.
Office Buildings | Oct 5, 2015
Renderings revealed for Apple's second 'spaceship': a curvy, lush office complex in Sunnyvale
The project has been dubbed as another “spaceship,” referencing the nickname for the loop-shaped Apple Campus under construction in Cupertino.
Contractors | Oct 2, 2015
OSHA’s top 10 workplace safety violations for 2015
Fall protection, hazard communication lead the list.
Contractors | Oct 1, 2015
Nonresidential construction spending expands for seventh consecutive month
Spending totaled $696.3 billion on a seasonally adjusted, annualized basis in August, a 0.3% increase from the previous month.
Airports | Sep 30, 2015
Takeoff! 5 ways high-flyin' airports are designing for rapid growth
Nimble designs, and technology that humanizes the passenger experience, are letting airports concentrate on providing service and generating revenue.
Contractors | Sep 30, 2015
FMI: Construction in place on track for sustained growth through 2016
FMI’s latest report singles out manufacturing, lodging, and office sectors as the drivers of nonresidential building activity and investment.
![What went wrong? Diagnosing building envelope distress [AIA course]](/sites/default/files/styles/list_big/public/Screen%20shot%202015-09-29%20at%209.46.33%20AM.png?itok=QDq8CQJv "What went wrong? Diagnosing building envelope distress [AIA course]")
Reconstruction & Renovation | Sep 29, 2015
What went wrong? Diagnosing building envelope distress [AIA course]
With so many diverse components contributing to building envelope assemblies, it can be challenging to determine which of these myriad elements was the likely cause of a failure.
