7 must reads for the AEC industry today: June 4, 2020

1. Jennifer Lawrence Cardiac Intensive Care Unit opens in Kentucky (BD+C)
"The CICU includes 17 private rooms for children recovering from heart procedures, including open heart surgery, heart transplant, and other conditions requiring intensive care. The goal of the redesign was to provide better patient- and family-centric services."

2. Construction employment declines in 326 out of 358 metro areas in April (AGC)
"Association says new transportation proposal could help restore jobs."

3. Virginia makes GCs liable for subs employee wages (BD+C)
"New law allows workers to sue GCs for wages in class action."

4. Renovation can turn older university buildings into high-performing labs (BD+C)
"Colleges, universities, corporations, and governments are finding that adapting older buildings to house laboratory facilities can be a viable alternative to new construction—if the conditions are right."

5. Show's Over For AMC Theatres? (Bisnow)
"AMC Entertainment Holdings, which operates almost 1,000 movie theaters in the U.S., Europe and the Middle East, said in a regulatory filing this week that there is uncertainty about its survival."

6. What Will College Be Like in the Fall? (New York Times)
"Administrators, professors, a union representative and students consider the new realities of life on campus in the midst of a pandemic."

7. Mall Stocks Surge with Shoppers Coming Back Faster Than Expected (Bloomberg via National Real Estate Investor)
"At North Carolina centers owned by Tanger traffic was at 80 percent of pre-pandemic levels."

See how your architecture, engineering, or construction firm stacks up against the nation's AEC Giants. For more than 45 years, the editors of Building Design+Construction have surveyed the largest AEC firms in the U.S./Canada to create the annual Giants 400 report. This year, a record 519 firms participated in the Giants 400 report. The final report includes 137 rankings across 25 building sectors and specialty categories.

Multifamily Housing | Feb 7, 2023

Multifamily housing rents flat in January, developers remain optimistic

Multifamily rents were flat in January 2023 as a strong jobs report indicated that fears of a significant economic recession may be overblown. U.S. asking rents averaged $1,701, unchanged from the prior month, according to the latest Yardi Matrix National Multifamily Report.

Market Data | Feb 6, 2023

Nonresidential construction spending dips 0.5% in December 2022

National nonresidential construction spending decreased by 0.5% in December, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $943.5 billion for the month.

Architects | Jan 23, 2023

PSMJ report: The fed’s wrecking ball is hitting the private construction sector

Inflation may be starting to show some signs of cooling, but the Fed isn’t backing down anytime soon and the impact is becoming more noticeable in the architecture, engineering, and construction (A/E/C) space. The overall A/E/C outlook continues a downward trend and this is driven largely by the freefall happening in key private-sector markets.

Hotel Facilities | Jan 23, 2023

U.S. hotel construction pipeline up 14% to close out 2022

At the end of 2022’s fourth quarter, the U.S. construction pipeline was up 14% by projects and 12% by rooms year-over-year, according to Lodging Econometrics.

Products and Materials | Jan 18, 2023

Is inflation easing? Construction input prices drop 2.7% in December 2022

Softwood lumber and steel mill products saw the biggest decline among building construction materials, according to the latest U.S. Bureau of Labor Statistics’ Producer Price Index.

Market Data | Jan 10, 2023

Construction backlogs at highest level since Q2 2019, says ABC

Associated Builders and Contractors reports today that its Construction Backlog Indicator remained unchanged at 9.2 months in December 2022, according to an ABC member survey conducted Dec. 20, 2022, to Jan. 5, 2023. The reading is one month higher than in December 2021.

Market Data | Jan 6, 2023

Nonresidential construction spending rises in November 2022

Spending on nonresidential construction work in the U.S. was up 0.9% in November versus the previous month, and 11.8% versus the previous year, according to the U.S. Census Bureau.

Industry Research | Dec 28, 2022

Following a strong year, design and construction firms view 2023 cautiously

The economy and inflation are the biggest concerns for U.S. architecture, construction, and engineering firms in 2023, according to a recent survey of AEC professionals by the editors of Building Design+Construction.