Construction Starts Up 5%The dollar value of new construction starts through the first three quarters of 2014 was $419.5 billion, according to McGraw Hill Construction Dodge. That total was 5% more than the same period a year ago. Most of the growth came from a 17% increase in non-residential building, a sector that got a major boost from Atlanta's $948-million football stadium and a $717-million casino in Maryland. Education, the largest non-residential market, increased 34% in September, helped by $250 million for two Texas high-school projects and a $150-million research lab in Cambridge, Mass.Turning Natural Gas Into Plastic North Dakota
Photo Courtesy of DBOX Big Apple's Superslim, 1,396-Ft-Tall Supertower Tops OutWhen complete, the topped-out 432 Park Avenue in New York City will be the tallest residential tower in the Western Hemisphere. At 96 stories, the $1.3-billion building, designed by Rafael Vinoly Architects with architect-of-record SLCE Architects and structural engineer WSP Cantor Seinuk, stands 146 ft taller than the 1,250-ft Empire State Building. Its rooftop exceeds the height of the flat roof of the 1,776-ft, spire-topped One World Trade Center by 28 ft. The project, managed by Lend Lease Corp., is on schedule to be completed in 2016. The tower will
With voters' approval of Miami's SkyRise Miami project, Berkowitz Development Group Inc. is moving ahead with construction of the estimated $430-million observation tower. The dramatic, curvilinear structure was designed by Arquitectonica International Corp. of Miami, with structural engineer Magnusson Klemencic Associates and consulting engineer Cosentini Associates. Related Links: Coastal Construction Rides High on South Florida Surge SkyRise Miami Project Website The site, which juts into Biscayne Bay, is going to make the tower especially challenging to build, says Coastal Construction, which is teamed with Tishman Construction Corp., Florida. "There's really no access," Sean Murphy, an executive vice president with Coastal,
Dodge Starts Up 4% for Year Through the first eight months of this year, the dollar value of total construction starts was $361.4 billion, which was 4% above the same period of 2013, according to McGraw Hill Construction Dodge's data for August. However, on a monthly basis, construction starts in August were down 9% from July. "The broad trend for construction activity remains upward, but, on a month-to-month basis, there are still the occasional setbacks," says Robert Murray, chief economist for McGraw Hill Construction. "Non-residential building over the past two months was boosted by several large, energy-related manufacturing projects, so
Rendering by Arquitectonica With voters' approval of Miami's SkyRise Miami project, Berkowtiz Development Group Inc. is moving ahead with construction of the estimated $430-million tower, designed by Arquitectonica International Corp., with structural engineer Magnusson Klemencic Associates and consulting engineer Cosentini Associates.The site, which juts into the bay, is going to make the tower especially challenging to build, says Coastal Construction, which is teamed with Tishman Construction Corp., Florida. The tower will include an observation deck, a restaurant, a ballroom, a bungee jump, a chair-drop ride and more.
Dodge Momentum Index Slows The McGraw Hill Construction's Dodge Momentum Index posted only a modest 0.2% monthly increase in August, which follows a 5.7% decline in July. Despite the recent setback, the index remains 13.9% above a year ago and continues to point to recovery in the sector, says Dodge. In August, the index was supported by a 5% increase in institutional building plans, while a 3% drop in commercial plans restrained further growth. The index measures non-residential building projects that have entered the planning stage and is a proven leading indicator of future building activity by a full year,
Photo by AP Wideworld In Streets of New York City, Thousands Call Upon World Leaders To Take Action on Global Warming Two days before world leaders convened a United Nations summit, participants in the People's Climate March coursed through Manhattan on Sept. 21. More than 300,000 marched along the 2.1-mile midtown route. The next day, a smaller group without a permit blocked traffic in lower Manhattan in a "Flood Wall Street" protest. They targeted companies that, they claim, harm the Earth with poor environmental practices. About 100 were arrested. Meanwhile, New York and New Jersey received new federal funds for
Dodge Construction Starts in July Up 4% Over a Year Ago Construction starts through the first seven months of this year are up 4% over the same period in 2013, according to McGraw Hill Construction Dodge. Through July, Dodge reports $312 billion in new construction starts, with the biggest boost coming from a 13% hike in non-residential building starts. "The construction expansion is getting more of a contribution from non-residential building," says Robert Murray, Dodge's chief economist. "Manufacturing-plant construction is seeing the start of numerous chemical- and energy-related projects, consistent with the nation's growing energy sector," he adds. Further, commercial
ABC's 'Construction Backlog Indicator' Hits Record High The Associated Builders and Contractors measure of its members' backlogs for new work reached a record high during the second quarter of this year, when its Construction Backlog Indicator (CBI) hit 8.5. That was up 5.6% from the previous quarter and 3.6% above a year ago. "The long-awaited, brisk non-residential building recovery may be upon us," says Anirban Basu, ABC chief economist. "Backlog gains were nearly ubiquitous during the second quarter, with gains registered in every industry segment in nearly all geographies and for firms of virtually all sizes," he says. Further increases
TVA Board OKs $975 Million For 1,000-MW Plant in MemphisThe Tennessee Valley Authority won board approval last month to retire its 702-MW Allen coal-fired plant near Memphis and replace it with a 1,000-MW gas-fired unit. TVA considered a 1,400-MW gas-fired replacement plant but opted for the smaller unit to accommodate the future development of renewable generation, said William Johnson, president and CEO. The board authorized up to $975 million to build the plant. Allen will continue to operate while the gas-fired plant is being built, but TVA did not say when construction would begin. TVA’s board also approved a fiscal