New construction starts in September advanced 10% to a seasonally adjusted annual rate of $604.1 billion, according to McGraw Hill Construction, a division of McGraw Hill Financial. The increase followed an up-and-down pattern during the previous two months and brought activity to its highest level so far during 2014. Nonresidential building registered a sharp gain, helped by an elevated pace for several institutional categories plus another brisk month for manufacturing plants, while the nonbuilding construction sector (public works and electric utilities) also strengthened. Running counter in September was a decline for residential building. During the first nine months of 2014,
Distributed solar photovoltaic system prices dropped by 12% - 19% nationwide in 2013, according to the third edition of a jointly written report on PV pricing trends from the Dept. of Energy’s National Renewable Energy Laboratory in Golden and Lawrence Berkeley National Laboratory in Berkeley, Calif. In addition, 2014 prices are expected to drop another 3% - 12%, depending on system location and market segment. Industry analysts expect this trend to continue over the next couple of years, keeping the nation on track to meet the DOE SunShot Initiative’s 2020 targets.“These price drops are consistent with previous annual reductions achieved
The confidence of Colorado business leaders in the economy continues to be positive heading into the fourth quarter and has increased moderately compared to a year ago. That is the key message from the most recent Leeds Business Confidence Index (LBCI) recently released by the University of Colorado Boulder’s Leeds School of Business. It’s not as bullish, however, the LBCI says, as it was a quarter ago, with slight drops across the board resulting in a current overall reading of 59.5, down from 61.2 heading into the third quarter of 2014.“I wouldn’t put too much concern in a slight dip
The September report of the Credit Managers’ Index (CMI) from the National Association of Credit Management fell in September to 54.9 from 56.7. While still firmly in the growth category, this is the lowest reading in nearly two years. Not even the “Polar Vortex” months of bad winter weather early in the year were as weak, NACM says. The collapse was felt in a variety of categories. “This was not a small reversal of fortune by any stretch of the imagination,” said NACM Economist Chris Kuehl. “This could be termed a collapse, and it begs a very important question—which is
The U.S. construction industry added 16,000 jobs in September, according to the Oct. 3 Bureau of Labor Statistics preliminary estimate. The August estimate was revised downward from 20,000 to 16,000 net new jobs. Nonresidential construction added 3,200 jobs in September, accounting for only 20% of the total gain in construction employment. “After a disappointing August jobs report, this new data reaffirms the ongoing momentum in the broader national economy,” said Associated Builders and Contractors Chief Economist Anirban Basu. “The release also confirms that nonresidential construction’s expansion continues to be a moderate one, with the industry adding only a few thousand
Nonresidential construction spending slipped in August, according to an Oct. 1 release from the U.S. Census Bureau. Nonresidential construction spending shrank 1.2% on a monthly basis in August but has still managed to expand 6% year-over-year. Spending for the month totaled $603.7 billion on a seasonally adjusted, annualized basis. The government also revised the July spending figure down from $617.8 billion to $611.3 billion. “This is why it is never a good idea to get excited about one month’s worth of data,” said Associated Builders and Contractors Chief Economist Anirban Basu. “After a significant acceleration in spending in July, the
With the recent hire of White Construction Group, Castle Rock, Colo., as CM/GC, the Stanley Marketplace project team is in place. The adaptive reuse of an abandoned manufacturing building in Aurora, Colo., into a mixed-use development could also fuel other rehab projects in the area, Aurora officials say. Rendering by gkkworks The new marketplace that will house several restaurants, a beer garden, local retailers, offices and community programs. The retail project, located in Aurora’s “Opportunity Triangle” between Stapleton, Lowry and the Fitzsimons Medical Campus—is the brainchild of developer Flightline Ventures.For years, the 133,000-sq-ft manufacturing facility and the 22 acres surrounding
At a seasonally adjusted annual rate of $540.6 billion, new construction starts in August dropped 9%, according to McGraw Hill Construction, a division of McGraw Hill Financial. The decline followed July’s elevated volume, the strongest so far in 2014, and brought activity back to the average pace reported during the first seven months of this year. By major sector, nonresidential building fell sharply, after being lifted in July by the start of several large manufacturing plant projects, while nonbuilding construction (public works and electric utilities) also retreated. Residential building in August ran counter by posting a modest gain, helped by
The Colorado Symphony Orchestra says it wants to remain in Boettcher Concert Hall—after it’s renovated. In a Sept. 18 unveiling of the CSO's Boettcher proposal, Colorado Symphony CEO and board co-chair Jerome H. Kern presented a proposal for a repurposed, renovated concert hall. The plan envisions a modernized and upgraded building that allows for greater flexibility in programming and addresses critical issues of sound and structure. Photo courtesy of Colorado Symphony The CSO's initial plan to renovate Boettcher Concert Hall calls for reducing the volume of the hall, enlarging reflective surfaces near the musicians and adding flexibility in the audience-seating
Construction firms added jobs in 36 states between August 2013 and August 2014, while construction employment increased in 28 states between July and August, according to a recent analysis of Labor Department data by the Associated General Contractors of America. Association officials noted that construction activity continues to spread even as employment gains remain uneven by month and state. “The number of states with increases in construction employment over the last 12 months moderated in August but remained strongly positive as construction activity continues to spread across most of the nation,” said Ken Simonson, the association’s chief economist. “While most
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