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
| Sep 7, 2022
K-8 school will help students learn by conducting expeditions in their own communities
In August, SHP, an architecture, design, and engineering firm, broke ground on the new Peck Expeditionary Learning School in Greensboro, N.C. Guilford County Schools, one of the country’s 50 largest school districts, tapped SHP based on its track record of educational design.
| Sep 6, 2022
Herbert V. Kohler, Jr. (1939-2022) An incomparable spirit
Dynamic leader and Kohler Co. Executive Chairman Herbert Vollrath Kohler, Jr. passed away on September 3, 2022, in Kohler, Wisconsin.
| Sep 6, 2022
Demand for flexible workspace reaches all-time high
Demand for flexible workspace including coworking options has never been higher, according to a survey from Yardi Kube, a space management software provider that is part of Yardi Systems.
| Sep 2, 2022
Converting office buildings to apartments is cheaper, greener than building new
Converting office buildings to apartments is cheaper and greener than tearing down old office properties and building new residential buildings.
| Sep 2, 2022
New UMass Medical School building enables expanded medical class sizes, research labs
A new nine-story, 350,000 sf biomedical research and education facility under construction at the University of Massachusetts Chan Medical School in Worcester, Mass., will accommodate larger class sizes and extensive lab space.
Giants 400 | Sep 1, 2022
Top 100 K-12 School Contractors and CM Firms for 2022
Gilbane, Core Construction, Skanska, and Balfour Beatty head the ranking of the nation's largest K-12 school sector contractors and construction management (CM) firms for 2022, as reported in Building Design+Construction's 2022 Giants 400 Report.
| Sep 1, 2022
ABC: Nonresidential Construction Spending Increases by a Modest 0.8% in July
National nonresidential construction spending increased 0.8% in July, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau.
| Sep 1, 2022
The University of Iowa opens the new Stanley Museum of Art, a public museum for both discovering and teaching art
The University of Iowa recently completed its new Stanley Museum of Art, a public teaching museum designed by BNIM.
| Aug 31, 2022
A mixed-use development in Salt Lake City provides 126 micro units with mountain views
In Salt Lake City, a new 130,000-square-foot development called Mya and The Shop SLC, designed by EskewDumezRipple, combines housing with coworking space, retail, and amenities, as well as a landscaped exterior for both residents and the public.
Mass Timber | Aug 30, 2022
Mass timber construction in 2022: From fringe to mainstream
Two Timberlab executives discuss the market for mass timber construction and their company's marketing and manufacturing strategies. Sam Dicke, Business Development Manager, and Erica Spiritos, Director of Preconstruction, Timberlab, speak with BD+C's John Caulfield.