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
| Jan 20, 2015
Daring hotel design scheme takes the shape of cut amethyst stone
The Dutch practice NL Architects designed a proposal for a chain of hotels shaped like a rock cut in half to reveal a gemstone inside.
| Jan 20, 2015
Avery Associates unveils plans for London's second-tallest tower
The 270-meter tower, dubbed the No. 1 Undershaft, will stand next to the city's "Cheesegrater" building.
| Jan 19, 2015
HAO unveils designs for a 3D movie museum in China
New York-based HAO has released designs for the proposed Bolong 3D Movie Museum & Mediatek in Tianjin.
| Jan 19, 2015
Gaudi’s first work outside Spain will be a chapel in Chile
Nearly 100 years after Antoni Gaudí’s death, Chile will begin constructing a chapel using his designs.
| Jan 19, 2015
Architecture for Humanity closes office, plans to file for bankruptcy
After more than 15 years of work, the nonprofit design group Architecture for Humanity has closed its San Francisco office and plans to file for Chapter 7 bankruptcy protection.
| Jan 17, 2015
When is a train station not a train station? When it’s a performance venue
You can catch a train at Minneapolis’s new Target Field Station. You can also share in an experience. That’s what ‘Open Transit’ is all about.
| Jan 16, 2015
Artsy lifeguard stations will brighten Toronto’s snowy beach
Five winning designs have been unveiled for lifeguard stands that will double as public space art installations on Toronto's beach.
| Jan 16, 2015
New York City construction costs continue to climb
A study released by the New York Building Congress shows that construction costs in Manhattan have risen 5% in each of the last two years.
| Jan 15, 2015
A reconstructed Taliesin West is the largest Frank Lloyd Wright LEGO Model [slideshow]
Artist Adam Reed Tucker used 180,000 LEGO pieces and 420 hours of work to recreate Frank Lloyd Wright's Taliesin West campus.
| Jan 15, 2015
Construction materials prices fall in November
Construction input prices dipped 1.4% during the final month of 2014 and are down nearly 1% on a year-over-year basis, according to the Jan. 15 producer price index release from the U.S. Department of Labor.