A slowdown in apartment construction? Cushman & Wakefield says it's so

Cushman & Wakefield | January 06, 2020

Developers have been in a race to add new multifamily units to cities across the country since 2015. But the latest research from Cushman & Wakefield suggests that this building boom is finally slowing. In a report released in December of last year, Cushman & Wakefield said that Class-A multifamily construction has peaked and is expected to now slow. The company said that Class-A deliveries fell 22 percent from the third quarter of 2017 to the third quarter of 2019. What’s behind the slowdown in new construction? Cushman & Wakefield cited rising construction costs, a lack of land in key markets, slowing rent growth and slower capital appreciation among multifamily assets. Looking back at the apartment construction boom, Cushman & Wakefield said that more than 68 percent of annual multifamily deliveries from 2015 through 2018 were Class-A properties. The company said, too, that just 10 U.S. markets accounted for 36 percent of all these deliveries from 2015 through 2018.

Spotlight

On February 6th, 2019, World Champion Magician Jason Latimer performed the Grand Prize Show of the Impossible Science Student Challenge live in Toronto. The challenge was hosted on engineering.com's idea sharing platform.

Spotlight

On February 6th, 2019, World Champion Magician Jason Latimer performed the Grand Prize Show of the Impossible Science Student Challenge live in Toronto. The challenge was hosted on engineering.com's idea sharing platform.

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DESIGN, CONSTRUCTION

Woolpert Acquires Sheehan Nagle Hartray Associates, Global Experts in Mission Critical Design

Woolpert | October 20, 2022

Woolpert has acquired Sheehan Nagle Hartray Associates, a full-service architecture firm that specializes in mission critical and technically challenging projects, interior design and predesign services for commercial, civic and education clients. SNHA has offices in Chicago and London. Principal Neil Sheehan said SNHA wanted to join a nimble, entrepreneurial culture with whom they could develop a visionary, global business strategy. He said in Woolpert, SNHA found transparency and knowledge-sharing across all levels, with clear aspirations for future growth, productivity and success. Woolpert shares our drive for design excellence and understands that innovation is evolutionary, while providing services that complement our own, Sheehan said. In addition, Woolpert's geospatial and engineering capabilities underscore our expertise, allowing us to integrate emerging technologies like computational design, digital twins, reality capture, carbon tracking, and virtual and augmented reality. Woolpert Vice President and Buildings Sector Leader Suzette Stoler lauded the SNHA staff for their passion, integrity and advancement of next-level, sustainable design. "We admire what SNHA has accomplished over the last 50 years and are thrilled that they are part of our Woolpert family, Together we will enhance our dynamic design culture across the globe, while providing meaningful and sustainable solutions for our clients and the industry." -Suzette Stoler, Vice President and Buildings Sector LeaderWoolpert. In addition to industry leadership in data center design, SNHA marks another key milestone in our global expansion plan, Woolpert CEO Scott Cattran said. With existing Woolpert offices already in North America, Africa, Australia and Asia, SNHA expands our design excellence in Europe and extends our capabilities as a global company. AEC Advisors initiated this transaction and acted as a financial advisor to Sheehan Nagle Hartray Associates. About Woolpert: Woolpert is the premier architecture, engineering, geospatial (AEG) and strategic consulting firm, with a vision to become one of the best companies in the world. We innovate within and across markets to effectively serve public, private and government clients worldwide. Woolpert is a top 100 ENR Global Design firm and actively nurtures a culture of growth, inclusion, diversity and respect. Founded in 1911 in Dayton, Ohio, Woolpert has been America's fastest-growing AEG firm since 2015. The firm has 1,900 employees and more than 60 offices on four continents. About Sheehan Nagle Hartray Associates: Sheehan Nagle Hartray Associates is a full-service architectural firm offering architectural design, interior design and predesign services including site selection, program definition and feasibility studies. We are also product designers, focusing on the creation of building systems for emerging design and technology challenges.

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ENGINEERING TECH, CONSTRUCTION

Intelliwave Technologies Releases Enhanced SiteSense® Integrations with Procore® Financials and Field Productivity Modules

PROCORE | September 12, 2022

Intelliwave Technologies, a global leader in providing digital solutions for construction materials management and tracking, is proud to announce a significant expansion of the integration available between SiteSense and Procore Technologies, a leading global provider of construction management software. This integration continues to strengthen the strategic partnership between SiteSense and Procore by providing additional value to mutual customers utilizing leading construction technology tools in one ecosystem. Intelliwave Technologies was formed in 2007 to increase "Time on Tools" for craft labor productivity and improve overall site safety in construction. The result was the creation of a revolutionary web and mobile-based software solution in one encompassing brand, SiteSense. SiteSense's integration with Procore's Directory, Financials, Quality and Safety and Field Productivity modules allows construction teams to effectively close the loop for vendor payment for commitments along with defect management, while tracking material, tools, assets, and equipment consumption from one project to another, with support from the existing directory from Procore during these transactions. This enhanced integration builds on SiteSense's previous integration releases with Procore to provide teams additional touchpoints to further connect the office to the field, driving project performance more effectively. SiteSense and Procore customers can now: Utilize Directory records during field transactions: Directory entries in Procore now sync to SiteSense as workers, crews, and jobs to assist with auto populating contact information, company names and e-mails but can also provide support scanning site badges for materials, tools, assets, and equipment handover transactions. Manage Delivery Defects with Observations: Defect tickets created during receiving of materials, tools, assets, and equipment transactions in SiteSense sync to Procore as Non-Conformance Observations to ensure the defect is reviewed and resolved with the vendor. Types of defects that can be logged in SiteSense include Unacceptable, Overage, Shortage and Damage (UOS&Ds). Support the 3-way match for Commitments: SiteSense Receiving Reports sync to Procore as Commitment Invoices to remove communication issues when closing the loop for jobsite deliveries of materials, tools, assets, and equipment to ensure trust with vendors and continued deliveries. Financial Consumption of Resources: SiteSense Issue Tickets for consumption of materials, tools, assets, equipment, and consumables sync to Procore as one of three options, Change Event, Time and Materials Ticket or Direct Cost to ensure cost is either re-captured through or properly allocated to a project budget that is consuming the goods. Advanced Project Mapping: Added support for 1-1, 1-many or many-1 Procore to SiteSense Projects to support custom Warehousing and Inventory Management use cases. Developer Managed Service Account Configuration: Upgraded set-up of the integration from legacy Service Accounts to the new Developer Managed Service Accounts (DMSA) that drastically reduces the time required to set-up the integration between SiteSense and Procore. The two-way integration between Intelliwave SiteSense and Procore provides considerable value to our shared clients, We look forward to providing new and prospective clients our enhanced best-in-class integration for inventory control, supply chain and materials management for all types and sizes of construction projects." -Dale Beard, CEO of Intelliwave. The SiteSense integration with Procore provides a connected network of leading construction technology tools that can help: Reduce administration costs by up to 10% Craft labor productivity improvement by up to 16% Reduce material bulk purchases by up to 40% "SiteSense by Intelliwave can help reduce data entry errors, transit time, and receipt capture for payment to vendors," said Micah Senen, partner manager at Procore. "The new enhancement to the integration reaffirms how vital SiteSense is for AEC companies looking to bridge the gap between their office and field teams and achieve maximum project performance. By syncing directory entries, defect tickets, and commitment invoices from Procore to SiteSense, we continue to achieve our mutual goal of connecting everything and everyone in construction." ABOUT INTELLIWAVE TECHNOLOGIES: Intelliwave Technologies provides the world's most comprehensive materials management digital solution for construction projects. SiteSense Cloud and Mobile Software enables construction crews to make more informed decisions with accurate real-time information on material status and availability. ABOUT PROCORE: Procore is a leading global provider of construction management software. Over 1 million projects and more than $1 trillion USD in construction volume have run on Procore's platform. Our platform connects every project stakeholder to solutions we've built specifically for the construction industry—for the owner, the general contractor, and the specialty contractor. Procore's App Marketplace has a multitude of partner solutions that integrate seamlessly with our platform, giving construction professionals the freedom to connect with what works best for them. Headquartered in Carpinteria, California, Procore has offices around the globe.

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ENGINEERING TECH

GlobalLogic Acquires Fortech, a Leading Digital Engineering Company Based in Romania

GlobalLogic | November 21, 2022

GlobalLogic Inc., a Hitachi Group company and Digital Engineering leader, announced that it has signed a definitive agreement to acquire Fortech, a leading software engineering services company based in Romania. Headquartered in Cluj-Napoca, Fortech has applied its deep technical capabilities to hundreds of clients and more than 1,000 digital projects throughout nearly two decades of operation—a track record that has ultimately positioned the company as one of Romania’s largest leading independent digital engineering firms. With 1,100+ people, Fortech operates out of four cities in Romania to support top-tier clients across a wide range of industries. These achievements and capabilities will help GlobalLogic further expand its customer and talent base, as it aims to address the robust global demand for digital transformation (DX). Additionally, Fortech’s seasoned leaders will bring valuable technical and domain experience along with strong relationships across European markets and marquee clients. “Fortech is a leading firm with proven track record and specialization in technology that is needed for digital evolution, This acquisition will further enhance GlobalLogic’s presence in Europe, and accelerate our access to the rich technical talent in Romania; it will arm Fortech with the resources and strong backing of GlobalLogic and Hitachi. We are excited to welcome Fortech and their talented people to the GlobalLogic family.” -Nitesh Banga, President and CEO, GlobalLogic. Founded in 2003, Fortech delivers full-spectrum digital engineering services including Architecture Design, Software Development, DevOps, Quality Assurance, and Data Analytics. The company has successfully architected, built, and maintained products for clients across numerous industries with a focused specialization in Cloud, IOT, and SaaS. Fortech holds deep domain experience in six key high growth verticals: Automotive, Banking/Finance, Healthcare, Manufacturing, Professional Services, and Technology/Media/Telecom. Fortech’s coverage of key industries and technologies is an incredible match for GlobalLogic. Fortech’s successes have led to it being recognized as one of the 2022 Best Managed Companies in Romania in the first edition of Deloitte’s Romania program. “We’re proud of our legacy, which is based on helping companies realize the power of transformative digital solutions, Joining forces with GlobalLogic, backed by Hitachi, takes our reach to a whole new level. Additionally, finding a partner that shares our cultural values with a strong emphasis on people, customers, and societal benefit is extremely gratifying.” -Calin Vaduva, CEO, Fortech. GlobalLogic’s investment in Fortech is part of a multi-year strategy designed to establish a wider European footprint while enabling it to better serve its customers worldwide from a delivery perspective. This acquisition will further enable GlobalLogic to augment Hitachi's strengths in Information Technology (IT), Operating Technology (OT), and Products, and accelerate its growth helping expand the Lumada business. About Fortech: Fortech (www.fortech.ro) is a software services company headquartered in Cluj-Napoca, Romania. It also holds engineering hubs in Oradea, Iasi, and Brasov. With a workforce of 1,100+ people, Fortech’s technical expertise spans a variety of sectors, from automotive and financial to healthcare and more. Fortech covers the end-to-end software lifecycle development to deliver the innovation, scalability, quality, and speed needed by its clients. The company’s approach to software engineering combines strong technology and process know-how, Agile delivery methods, and a blend of code quality practices and metrics refined throughout two decades of operation. Since 2003, more than two hundred brands have chosen Fortech as their software engineering partner. About GlobalLogic: GlobalLogic is a leader in digital engineering. We help brands across the globe design and build innovative products, platforms, and digital experiences for the modern world. By integrating experience design, complex engineering, and data expertise – we help our clients imagine what’s possible and accelerate their transition into tomorrow’s digital businesses. Headquartered in Silicon Valley, GlobalLogic operates design studios and engineering centers around the world, extending our deep expertise to customers in the automotive, communications, financial services, healthcare and life sciences, manufacturing, media and entertainment, semiconductor, and technology industries. GlobalLogic is a Hitachi Group Company operating under Hitachi, Ltd. (TSE: 6501), which contributes to a sustainable society with a higher quality of life by driving innovation through data and technology as the Social Innovation Business.

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