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
Design Innovation Report | Apr 19, 2023
Meet The Hithe: A demountable building for transient startups
The Hithe, near London, is designed to be demountable and reusable. The 2,153-sf building provides 12 units of business incubator workspace for startups.
Contractors | Apr 19, 2023
Rising labor, material prices cost subcontractors $97 billion in unplanned expenses
Subcontractors continue to bear the brunt of rising input costs for materials and labor, according to a survey of nearly 900 commercial construction professionals.
Airports | Apr 18, 2023
India's mammoth new airport terminal takes ‘back to nature’ seriously
On January 15, 2023, Phase 1 of the Kempegowda International Airport’s Terminal 2, in Bengaluru, India, began domestic operations. The 2.75 million-sf building, designed by Skidmore, Owings & Merrill (SOM), is projected to process 25 million passengers annually, while providing its travelers with a healthier environment, thanks to extensive indoor-outdoor landscaping that offers serenity to what is normally a frenzied experience.
Contractors | Apr 18, 2023
New York City construction fatalities, injuries rise in 2022 as activity booms
New York City’s construction fatalities rose from nine in 2021 to eleven in 2022, according to a report by the New York City Department of Buildings. Recorded injuries also rose to 554 last year after leveling off in 2020 and 2021.
Resiliency | Apr 18, 2023
AI-simulated hurricanes could aid in designing more resilient buildings
Researchers at the National Institute of Standards and Technology (NIST) have devised a new method of digitally simulating hurricanes in an effort to create more resilient buildings. A recent study asserts that the simulations can accurately represent the trajectory and wind speeds of a collection of actual storms.
Green | Apr 18, 2023
USGBC and IWBI unveil streamlined certification pathway for LEED and WELL green building programs
The U.S. Green Building Council, Green Business Certification Inc., and the International WELL Building Institute released a streamlined process for projects pursuing certifications for the LEED green building rating system and the WELL Building Standard. The new protocol simplifies documentation for projects that are pursuing both certifications at the same time or that have already earned one certification and are looking to add the other.
K-12 Schools | Apr 18, 2023
ASHRAE offers indoor air quality guide for schools
The American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) has released a guide for educators, administrators, and school districts on indoor air quality. The guide can be used as a tool to discuss options to improve indoor air quality based on existing HVAC equipment, regional objectives, and available funding.
Data Centers | Apr 14, 2023
JLL's data center outlook: Cloud computing, AI driving exponential growth for data center industry
According to JLL’s new Global Data Center Outlook, the mass adoption of cloud computing and artificial intelligence (AI) is driving exponential growth for the data center industry, with hyperscale and edge computing leading investor demand.
Healthcare Facilities | Apr 13, 2023
Healthcare construction costs for 2023
Data from Gordian breaks down the average cost per square foot for a three-story hospital across 10 U.S. cities.
Higher Education | Apr 13, 2023
Higher education construction costs for 2023
Fresh data from Gordian breaks down the average cost per square foot for a two-story college classroom building across 10 U.S. cities.