The American Institute of Architects’ (AIA) semi-annual Consensus Construction Forecast indicates a growth of 8% in construction spending in 2016.
Even better, 2017 could be nearly as strong. AIA is predicting a 6.7% increase next year, as demand for offices, hotels, industrial centers, and amusement and recreational facilities remains high.
“While rising interest rates could pose a challenge to the U.S. economy, lower energy prices, improved employment figures, and an enacted federal budget for 2016 are all factoring into a very favorable outlook for the construction industry,” AIA Chief Economist, Kermit Baker, PhD, Hon. AIA, said in a statement. “And after several years of challenging economic circumstances the institutional project sector is finally on very solid footing.”
Going even further than 2017, AIA found some of the top nonresidential design trends for the next 10 years. Technologies like BIM software, motion-sensing lighting, new glass and glazing products, and solar and wind generation are all expected to become more sophisticated over time.
Related Stories
3D Printing | Apr 11, 2023
University of Michigan’s DART Laboratory unveils Shell Wall—a concrete wall that’s lightweight and freeform 3D printed
The University of Michigan’s DART Laboratory has unveiled a new product called Shell Wall—which the organization describes as the first lightweight, freeform 3D printed and structurally reinforced concrete wall. The innovative product leverages DART Laboratory’s research and development on the use of 3D-printing technology to build structures that require less concrete.
Market Data | Apr 11, 2023
Construction crane count reaches all-time high in Q1 2023
Toronto, Seattle, Los Angeles, and Denver top the list of U.S/Canadian cities with the greatest number of fixed cranes on construction sites, according to Rider Levett Bucknall's RLB Crane Index for North America for Q1 2023.
University Buildings | Apr 11, 2023
Supersizing higher education: Tracking the rise of mega buildings on university campuses
Mega buildings on higher education campuses aren’t unusual. But what has been different lately is the sheer number of supersized projects that have been in the works over the last 12–15 months.
Architects | Apr 10, 2023
Bill Hellmuth, FAIA, Chairman and CEO of HOK, dies at 69
William (Bill) Hellmuth, FAIA, the Chairman and CEO of HOK, passed away on April 6, 2023, after a long illness. Hellmuth designed dozens of award-winning buildings across the globe, including the Abu Dhabi National Oil Company Headquarters and the U.S. Embassy in Nairobi.
Contractors | Apr 10, 2023
What makes prefabrication work? Factors every construction project should consider
There are many factors requiring careful consideration when determining whether a project is a good fit for prefabrication. JE Dunn’s Brian Burkett breaks down the most important considerations.
Mixed-Use | Apr 7, 2023
New Nashville mixed-use high-rise features curved, stepped massing and wellness focus
Construction recently started on 5 City Blvd, a new 15-story office and mixed-use building in Nashville, Tenn. Located on a uniquely shaped site, the 730,000-sf structure features curved, stepped massing and amenities with a focus on wellness.
Smart Buildings | Apr 7, 2023
Carnegie Mellon University's research on advanced building sensors provokes heated controversy
A research project to test next-generation building sensors at Carnegie Mellon University provoked intense debate over the privacy implications of widespread deployment of the devices in a new 90,000-sf building. The light-switch-size devices, capable of measuring 12 types of data including motion and sound, were mounted in more than 300 locations throughout the building.
Affordable Housing | Apr 7, 2023
Florida’s affordable housing law expected to fuel multifamily residential projects
Florida Gov. Ron DeSantis recently signed into law affordable housing legislation that includes $711 million for housing programs and tax breaks for developers. The new law will supersede local governments’ zoning, density, and height requirements.
Energy Efficiency | Apr 7, 2023
Department of Energy makes $1 billion available for states, local governments to upgrade building codes
The U.S. Department of Energy is offering funding to help state and local governments upgrade their building codes to boost energy efficiency. The funding will support improved building codes that reduce carbon emissions and improve energy efficiency, according to DOE.
Steel Buildings | Apr 6, 2023
2023 AISC Forge Prize winner envisions the gas station of the future
Forge Prize winner LVL (Level) Studio envisions a place where motorists can relax, work, play, shop, or perhaps even get healthcare while their vehicles charge.
