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

 
01/23/2015

Data shows earth's surface temperature increase to a new high

01/22/2015

New reports show ownership could have fast benefits.

01/21/2015

New formula kills germs, prevents them from reappearing.

01/20/2015

 Study shows properly maintained roofing can last as long as buildings.

01/19/2015

Increases projected at nearly 10% per year.

01/16/2015

Pollution, health improvements more powerful motivators than cost savings.

01/15/2015

Administration looks to cut GHGs from oil, natural gas production.

01/14/2015

Vegetation effective at dampening noise.

01/13/2015

Database will aid in making green purchasing decisions. 

01/12/2015

Includes best practices for energy monitoring and reduction.

01/09/2015

Study shows majority of reserves must be left alone to mitigate climate change.

01/08/2015

Energy department looks to standardize definition.

01/07/2015

Plus 12 best practices to reduce operating costs. 

01/06/2015

Improvements extend beyond energy efficiency to carbon emissions.

01/05/2015

Rule expected to cut carbon emissions, electricity use in lighting.

01/02/2015

Data storage pattern for media improves light absorption. 

12/31/2014

Partnerships will help communities prepare for electrical disruptions.

12/30/2014

Scientists find chemical attractants that trap the insects.

12/29/2014

Older buildings will improve resiliency to earthquakes.

12/24/2014

New DD Green program looks to improve restaurant sustainability.

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