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.
CLICK HERE to find out how.

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

 
11/24/2014

EPA challenge to increase diversion rates for the holidays.

11/21/2014

Framework allows users a better look at roofing's environmental impact.

11/20/2014

Study finds paper towel dispensers carry far fewer germs.

11/19/2014

Tool will help manage information during power outages.

11/18/2014

Requirements include energy, IEQ, and sustainability updates.

11/17/2014

Group of 17 properties earn energy efficiency designation.

11/14/2014

Water conservation efforts see results.

11/13/2014

Study shows sustainable investments weather the winter.

11/12/2014

Standard focuses on occupant health.

11/11/2014

EPA says cleanup will cost hundreds of thousands of dollars.

11/10/2014

Methane will be used as a fuel source.

11/07/2014

ASTM to target roofing material diversion rates. 

11/06/2014

ORNL scientists look to the future of renewable energy integration.

11/05/2014

Lawsuits unlikely to convince polluters to change opposition to legislative reform. 

11/04/2014

Green building investment jumps in 2013. 

11/03/2014

Study shows difference between reported and measured occupant behavior

10/31/2014

Report shows energy modeling as key to improving building performance

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.

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