Industry News




 

01/30/2014

Commercial Construction Forecast: Promising for 2014 and 2015

 
The commercial construction industry will likely see a boost in 2014 and 2015.

As the economy continues to stabilize, non-residential construction will grow, spurred along by declining office and retail vacancies as well as growing commercial property values. The American Institute of Architects (AIA) predicts that spending will increase 5.8% in 2014 and 8% in 2015.

Led by the hotel and retail project categories, the commercial sector is expected to see the biggest gains in construction spending, with demand for institutional projects increasing at a more moderate level. But this increase could pose problems.

“The rosy outlook also contains several concerns for the entire construction industry. Rising construction costs, a shortage of skilled labor, and bank credit standards that have not eased up enough to keep pace with the strong demand for construction financing are all serious challenges to sustained growth in the coming years,” says Kermit Baker, chief economist at AIA.

Market Segment Consensus Growth Forecasts

Commercial, Industrial 2014 2015
Hotels 13.1% 9.2%
Retail 10.5% 11.5%
Office Buildings 9.2% 10.8%
Industrial Facilities 7.8% 8.7%

Institutional                   
2014 
2015
Amusement, Recreation 9.9% 7.5%
Healthcare Facilities 5.2% 7.8%
Education 2.8% 5.8%
Public Safety -0.2% 3.1%
Religious -1.7% 1.3%

For the full report, visit AIA's website.

 


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Visit our website today to learn about the design flexibility of a Morton building and the endless possibilities of partnering with our designBUILD team.


Wood construction is both cost and energy efficient. Check out Morton Buildings and our designBUILD team online today to discover all the benefits of post-frame construction.


When choosing a metal-clad building for your next construction project, consider Morton Buildings, Inc., and their designBUILD team, we’ll make your dream a reality.

We Can Help You Reduce Energy by 30%

Our mission is to help our customers manage their buildings' energy costs, improve reliability, and enhance performance while having a positive impact on the environment.
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Add highly responsive multi-zone comfort to any building project, in any climate. Our CITY MULTI H2i R2- and Y-Series VRF systems give you flexibility to fit the needs of any building. Enjoy 100% heating capacity at 0°F outdoor ambient, and 85% heating capacity at -13°F outdoor ambient.  For more information, log on to www.mitsubishipro.com


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10/30/2014

Report shows healthy features and practices yield results.

10/29/2014

USGBC announces two more years to prepare for LEED v4.

10/28/2014

Current projects could replace up to 8% of the Army’s energy use.

10/27/2014

Report shows increased occupant engagement in offices with green features.

10/23/2014

Study shows seven key areas to increase worker engagement. 

10/22/2014

New rule aims to eliminate the production of HCFC refrigerants. 

10/21/2014

U.S. photovoltaic costs continue to decline.

10/20/2014

The EPA looks to help improve energy and air quality during educational facility renovations. 

10/17/2014

Agency says current regulations "don't protect worker health".

10/16/2014

Scientists have developed LED bulbs free of rare earth metals.

10/15/2014

Survey shows a decrease in employees coming to work sick.

10/14/2014

New efficiency ratings available for apartment units

10/10/2014

New code to increase commercial building efficiency.

10/09/2014

Take charge of your electricity bill with these quick tips.

10/08/2014

Illumination improvements take the top award for physics

10/07/2014

Study shows equipment improvements could boost efficiency. 

10/06/2014

New device integrates batteries into solar cell design.

10/03/2014

The switch to green products comes to healthcare facilities.

10/01/2014

Photovoltaic installations serve nearly 2.7 million students

09/30/2014

Incidence of fires and property loss down from 2012

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