FMI releases 2012 first quarter construction outlook

FMI released the first-quarter 2012 Construction Outlook Report forecasting a 5% increase in total construction put in place for 2012 compared to 2011, or $826.3 billion. The last time construction put in place was at this level was 2000-2001.

Despite slow growth projections and rising gasoline prices, the GDP is still growing and consumers are still spending, reflected in the Conference Board's Consumer Confidence Index increasing to 70.8 in February compared to 70.4 a year ago. Along with the Federal Reserve's intervention, these factors have served to keep growth slow and inflation in check.

In order for residential construction to achieve the 8 percent increase projected and top $264.4 billion in 2012, a number of factors still have to fall into place:

Reduction in the current inventory of homes
Lenders willing to lend on reasonable terms
Steady improvement in hiring

Projections indicate a 4% increase in nonresidential buildings for 2012, topping $341 billion, with slightly higher growth in 2013 to $361 billion. Nonresidential contractors are facing many of the same problems as residential contractors. In addition, competition is fierce, with low price still the name of the game. Project owners who are ready to restart their building programs are expecting hungry contractors to submit very low bids. One of the keys for growth will be the return of private investment in construction. Additionally, federal, state and local government construction have been dialed back until budgets are in better repair and tax revenues return to levels that are more normal. Research indicates that there are signs this is starting to happen. BD+C

Climate change is having a dramatic impact on urban design, in terms of planning, materials, occupant use, location, and the long-term effect of buildings on the environment. Joining BD+C's John Caulfield to discuss this topic are two experts from the Boston-based CBT Architects: Kishore Varanasi, a Principal and director of urban design; and Devanshi Purohit, an Associate Principal.

Multifamily Housing | Jul 14, 2022

Multifamily rents rise again in June, Yardi Matrix reports

Average U.S. multifamily rents rose another $19 in June to edge over $1,700 for the first time ever, according to the latest Yardi® Matrix Multifamily Report.

Building Team | Jul 14, 2022

Austin PBS gets a new state-of-the-art facility with three studios

Since the 1970s, Austin PBS, birthplace of the Austin City Limits TV series, has been based inside the communications building on the University of Texas campus—a space it has long outgrown.

Building Team | Jul 13, 2022

The YIMBY movement emerges as valuable advocate for affordable housing

Over the past few decades, developers grew accustomed to nothing but staunch opposition to dense affordable housing project proposals.

Energy | Jul 13, 2022

Electrification of buildings, new and old, furthers environmental responsibility and equity

It’s almost a cliché in our industry, but nonetheless: The greenest building is the one that is already built.

Building Team | Jul 13, 2022

Austin’s newest entertainment and hospitality complex has been made from repurposed shipping containers

A new entertainment and hospitality complex in Austin, The Pitch, has been made out of repurposed shipping containers.

Codes and Standards | Jul 12, 2022

USGBC sets out principles for LEED’s future

The U.S. Green Building Council recently published a report containing principles outlining how LEED will evolve.

Building Team | Jul 12, 2022

10 resource reduction measures for more efficient and sustainable biopharma facilities

Resource reduction measures are solutions that can lead to lifecycle energy and cost savings for a favorable return on investment while simultaneously improving resiliency and promoting health and wellness in your facility.