New construction starts in August dropped 11% to a seasonally adjusted annual rate of $554.5 billion, according to Dodge Data & Analytics. Declines were reported for each of construction’s three main sectors—nonresidential building and housing pulled back from their improved July pace, while nonbuilding construction continued to recede from the heightened performance witnessed earlier in 2015. During the first eight months of 2015, total construction starts on an unadjusted basis were $446.1 billion, up 15% from the same period a year ago. If the volatile electric-utility and gas plant category is excluded, total construction starts during the first eight months
Motorists in many U.S. cities are already familiar with the perks of intelligent transportation systems. Depending upon their degree of sophistication, ITS technologies include variable message signs, traffic signal and lane controls, real-time weather information, ramp metering and video monitoring of traffic and highway security. ITS data can be sent to first responders and mobile apps to help drivers navigate around accidents and peak-period snarls. Photo courtesy of CDOT Intelligent transportation systems are already in place on some Colorado highways in the form of real-time highway messaging signs and ramp meters. But the Colorado Dept. of Transportation aims to take
An overwhelming majority of construction firms report trouble finding qualified craft workers to fill key spots, as demand for construction continues to rebound in many parts of the country, according to the results of an industry-wide survey released Sept. 10 by the Associated General Contractors of America. Association officials called for new career and technical school programs, as well as other workforce measures to offset labor shortages that are forcing firms to change how they operate. They say the shortages also pose risks to workplace safety.“Few firms across the country have been immune from growing labor shortages in the construction
Prices for inputs to construction industries declined 0.1% in July after increasing 0.2% in June, according to the Aug. 14 producer price index release by the Bureau of Labor Statistics. Year-over-year prices were down 3% in July and have been down on an annual basis for each of the past eight months. Prices of inputs to nonresidential construction industries declined 0.3% on a monthly basis and are down 3.9% on a yearly basis.“Key input prices fell or were flat in all but one category in July, and it is important to note that further downward pressure on input costs is
Construction spending in June recorded the highest year-over-year growth rate since 2006, according to a recent analysis by the Associated General Contractors of America.
At a seasonally adjusted annual rate of $629.4 billion, new construction starts in July were essentially unchanged from June’s pace, according to Dodge Data & Analytics.
The Regional Transportation District Board of Directors approved in late July a $140-million, two-phased contract award to Balfour Beatty Infrastructure Inc. (BBII) to design and build the Southeast Rail Extension in Denver. Design will begin this fall, with construction expected to start in spring 2016. The construction phase is dependent on the award of a Full Funding Grant Agreement from the Federal Transit Administration (FTA). BBII has committed to completing construction of the line by early 2019.“The board’s contract award is a strong symbol of how much we value the collaborative and innovative spirit of working with our regional partners,”
The Colorado Dept. of Transportation, the High Performance Transportation Enterprise (HPTE) and the Colorado Bridge Enterprise recently announced the four teams shortlisted to continue the process of qualifying to build the I-70 East Project. In response to a March release of the I-70 East Project’s Request for Qualifications, five statements of qualifications (SOQs) were submitted in June from combined teams of construction and engineering firms, operators and equity investors. The teams were evaluated on their organizational structure, experience on like projects, approach to the project and financial capacity.The four shortlisted teams are:• 5280 Connectors• Kiewit/Meridiam Partners• Front Range Mobility Group•
The Colorado State University System has secured more than $171 million in bond financing for a suite of projects that college officials say will transform the Fort Collins campus over the next few years. The bonds will fund construction of new facilities for academics, research and student services. The bond package that supports six major construction projects sold in less than four hours on Aug. 6 and delivered a combined true interest rate of 4.01%.The projects financed in the sale include:• A five-story, 152,000-sq-ft biology building.• A new 105,000-sq-ft medical center that will be built at the corner of Prospect
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