Hospital and health-care owners around the nation, midway into capital construction programs that were envisioned and budgeted in less-dour economic times, are nervously watching Wall Streets woes as they race to meet growing demand for high-performance, patient-friendly, rapidly delivered facilities. Industry analysts forecasts that earlier this year projected strong hospital starts until 2009 based on unprecedented demand, reversed course by fall when owners began to balk at new plans and projects as stock markets tanked and bond rates soared. Photo: Childrens Hospital of Pittsburgh Childrens Hospital of Pittsburgh will be the first paperless, all-digital hospital. Erikson Retirement Communities Erikson Retirement
New construction starts fell 5% in September, to a seasonally adjusted rate of $523 billion, with decreased activity for both nonresidential building and nonbuilding work, according to McGraw-Hill Construction, of which ENR is a unit. Mcgraw-Hill Construction Analytics “The declines are consistent with trends expected through the end of 2008 and into 2009,” says MHC Chief Economist Robert Murray. “Commercial structure types have lost momentum. In addition, erosion in the fiscal health of states will dampen activity for institutional and public-works sectors going forward.”
Water and wastewater markets have grown nicely over the past decade but funding issues may create a clog in the works in coming years. Declining revenue at state and local levels as well as the tight credit market are almost certain to curtail gains built up over the past 10 years, say industry analysts. Slide Show DCWASA District of Columbia moves into design stage of program to meet stricter Chesapeake Bay discharge requirements. Related Links: The Complete Top Owners Sourcebook with Market Data and Analysis Between 1997 and 2007, water and wastewater agencies around the country faced capacity issues, overdue
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