A joint venture of Hunt Construction and Clayco has been selected as construction manager for a new football stadium in St. Louis. Hunt Construction Named CM for New St. Louis Football Stadium The St. Louis Regional Convention and Sports Complex Authority has chosen the joint venture of Hunt Construction Group and Clayco to be the construction manager for a new football stadium in downtown St. Louis. The joint venture, known as HCKL, also includes KAI Design and Build and the Legacy Building Group. In addition, the Kwame Building Group will provide project management support services. Construction of the new stadium
Related Links: Moving Data and Dirt Construction Unemployment Rate Drops to 9.5%.Construction's March unemployment figures showed a mixed picture as the industry's jobless rate fell from the year-earlier and February levels, but it also lost 1,000 jobs in the month, the Bureau of Labor Statistics says. The latest BLS report shows construction's unemployment rate declined, year over year, to 9.5% in March from 11.3%, and it also was down from February's 10.6% rate.Construction economists point out that the industry's drop in jobs in March was the industry's first month-to-month decline since December 2013. March job losses among residential specialty-trade contractors
Dodge Momentum Index Fell in March but Is Up for the YearThe Dodge Momentum index fell 2.1% in March, according to Dodge Data & Analytics. The index measures non-residential building projects entering the planning stage and is a lead indicator of construction spending activity by a full year. Despite the monthly decline, the index has been trending upward over the past 12 months and is 12% above 2014's level. There were 10 projects exceeding $100 million that entered the planning stage in March, including seven commercial and three institutional jobs. The largest was a $400-million development in Bismarck, N.D.New York
Related Links: Complete ENR 2015 Q1 Cost Report, with Data and Analysis The largest drop in energy costs in decades has to have an impact on construction costs and markets. But perhaps not as much as you may think."The impact of the drop in oil prices will be limited to a few specific markets, such as petrochemical plants, and it will be very regional," says Robert Murray, chief economist for Dodge Data & Analytics. He still predicts that the dollar value of total construction starts will increase 9% to 10% this year. "The pullback in manufacturing is dampening growth but
All Three Major Sectors Add to February Construction StartsNon-building construction was up 87% in January 2015 and gained another 9% in February, leaving that market 89% above the first two months of last year, according to Dodge Data & Analytics. Non-residential building jumped on the bandwagon with a 42% monthly increase in the dollar value of starts, putting that market 22% above the first two months of 2014. Homebuilding also started to strengthen, with a 5% monthly gain in February, lifting that market 7% above a year ago. The non-residential building sector got a major boost from the start of
