flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

6 regional construction trends for 2018

Contractors

6 regional construction trends for 2018

2018 should be a good year for construction but there are at least 4 things that can influence costs.


By Perryman Construction | January 26, 2018

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

Building Materials | Feb 19, 2015

Prices for construction materials fall in January, following plummet of oil prices

The decline in oil and petroleum prices finally showed up in the produce price index data, according to ABC Chief Economist Anirban Basu.

Codes and Standards | Feb 18, 2015

USGBC concerned about developers using LEED registration in marketing

LEED administrators are concerned about a small group of developers or project owners who tout their projects as “LEED pre-certified” and then fail to follow through with certification.

Office Buildings | Feb 18, 2015

Commercial real estate developers optimistic, but concerned about taxes, jobs outlook

The outlook for the commercial real estate industry remains strong despite growing concerns over sluggish job creation and higher taxes, according to a new survey of commercial real estate professionals by NAIOP.

Museums | Feb 18, 2015

Foster + Partners' National Museum of Marine Science and Technology breaks ground in Taiwan

The museum will be home to an aquarium, exhibition space, and waterfront views. 

University Buildings | Feb 18, 2015

Preparing for the worst: Campus security since Virginia Tech

Seven years after the mass shootings at Virginia Tech, colleges and universities continue to shake up their emergency communications and response capabilities to shootings and other criminal threats.

Office Buildings | Feb 18, 2015

Why the mobile workplace isn't always mobile

Perkins+Will’s Janice Barnes addresses the nuance in mobility types and explains the importance of defining terms upfront.

University Buildings | Feb 17, 2015

BD+C exclusive: How security is influencing campus design and construction

Campus crime—whether real or perceived—presents Building Teams with more opportunities for early-stage consultation with university clients. 

Multifamily Housing | Feb 17, 2015

California launches pilot program to finance multifamily retrofits for energy efficiency

The Obama Administration and the state of California are teaming with the Chicago-based MacArthur Foundation on a pilot program whose goal is to unlock Property-Assessed Clean Energy financing for multifamily housing.

Sponsored | Building Team | Feb 17, 2015

Why diversity matters

Companies in the top quartile for gender or racial and ethnic diversity are more likely to have financial returns above their national industry medians.

Sponsored | Modular Building | Feb 17, 2015

When lava flow in Hawaii threatens a public school district, officials turn to modular

Hawaii Modular Space, a Williams Scotsman company, designed temporary classroom space for the Pahoa and Keeau schools that would become displaced due to ongoing lava flow in Pahoa, Hawaii.

boombox1
boombox2
native1

More In Category




halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021