High Construction Costs and Saturation Hearken to Recession

GlobeSt | February 14, 2020

High construction costs and market saturation all point to a recession within the next year as developers and other industry players travel back and forth to the drawing board to figure out when a slowdown of economic activity will happen and how to best prepare, Julian Anderson, president of Rider Levett Bucknall North America, a independent organization in cost management, quantity surveying, project management and advisory services, tells Globest.com.

Spotlight

How we use OpenSpace to capture 3D site photos and compare them side by side to BIM models to validate designs.

"For people who have a lot on their plate like Directors or for Design Managers, it's quite straightforward to pull up a side-by-side view of the model and make sure what’s been installed is actually the approved design", Kevin Hogan, Senior Design Manager.

This ease of access to information is not only valuable for our Design teams, but also for our clients. With this technology, we're able to take them along the journey with us, and also give them access to this information afterwards so they can revisit any part of the build process and use it as a tool while they maintain their asset for decades to come.


Other News
CONSTRUCTION

The Joseph Group Joins Douglas Elliman Realty

Joseph Design Build | November 30, 2022

Thomas Joseph, cofounder of Austin-based luxury developer Joseph Design Build, announced today the firm's in-house realty group, The Joseph Group, has joined Douglas Elliman Realty, one of the largest independent residential real estate brokerages in the country. The three-person powerhouse team first formed in 2020, and will continue to operate out of the Joseph Design Build headquarters in South Austin. "We are pleased to welcome The Joseph Group to our firm, Their expertise in the Austin luxury market will be an invaluable asset to the brokerage, and we are looking forward to witnessing how they grow and expand their business." -Stephen Kotler, CEO of Douglas Elliman Realty's Western Region. Joining Douglas Elliman represents a powerful alignment, said Thomas Joseph. The Joseph Group is thrilled at the opportunity to continue to learn and grow alongside the industry's top professionals, and we are excited about the ever-evolving direction of the group, and its impact on Joseph Design Build as a whole." The Joseph Group's parent company, Joseph Design Build, is a multi-award-winning luxury design-build firm, specializing in function-forward, expertly built modern infill homes of unrivaled craftsmanship and quality. The homes developed by Joseph Design Build will now also benefit from the same best-in-class Douglas Elliman network. The firm has grown exponentially since its founding, and currently has an active project pipeline in key neighborhoods around Downtown Austin worth more than $160 million. Earlier this year, Joseph Design Build completed development on a three-story office project in East Austin — its first of what are sure to be many ventures in the commercial sector. "Thomas and his team come to us with an impressive track record, along with a creative, forward-thinking mindset in the luxury space, We're pleased to welcome them to the firm." -Catherine Lee, President of Douglas Elliman Texas. A flourishing technology hub, Austin has been among the fastest-growing real estate markets in the United States for six consecutive years. About Joseph Design Build: Joseph Design Build is a turnkey design-build development firm, founded in Austin in 2014. Spearheaded by Gabe and Thomas Joseph, Joseph Design Build offers a vertically-integrated suite of luxury design-build services, including architectural and interior design, site acquisition, permitting and construction. This streamlined approach unites all relevant professions under one roof, ensuring the highest possible quality on every project.

Read More

CONSTRUCTION

Blue Ridge Construction Capital Acquires Artistic Paver Manufacturing, Inc.

Blue Ridge Construction Capital | November 10, 2022

Blue Ridge Construction Capital LLC ("BRCC"), in partnership with incoming CEO Matthew Wayman and founder Dan Essig, is pleased to announce the acquisition of Artistic Paver Manufacturing, Inc. ("Artistic"). Artistic, based in N. Miami Beach, FL, is a manufacturer of premium interlocking, decorative concrete pavers sold for outdoor living applications. The Company has manufacturing facilities in Miami and Phoenix and serves the fast growing Southeastern and Southwestern geographic markets. Dan Essig, who founded Artistic in 2000 and served as President and CEO, will transition to a full-time advisor role and join the Board of Directors. Dan stated, "I am really proud of the successful 22-year history of Artistic and even more excited to work with Matt and Blue Ridge to build the Company into a category leader." As a part of the Artistic acquisition, industry veteran Matthew Wayman will join the executive team as CEO. Wayman recently acted as the Senior Vice President and General Manager over Forterra, Inc.'s East Region, responsible for full commercial and operational oversight for a 12-plant, 500-team member operation serving 5,000+ customers. "Artistic is at an important inflection point. The brand and product offering are widely respected by contractors and consumers and the recent expansion in Miami positions the Company for tremendous growth." -Matthew Wayman CEO Artistic. BRCC Managing Partner and Co-Founder, Casey Rentch, commented, Dan has built a best-in-class concrete paver company and we are thrilled to partner with him and Matt to expand on the Company's incredible momentum. "We are excited to add Artistic to the Blue Ridge portfolio. The Company's unique growth and profitability profile are consistent with our goal of partnering with founders to acquire exceptional building products companies." -Ben Hughes, Partner and Co-Founder of BRCC. About Blue Ridge Construction Capital, LLC: Blue Ridge Construction Capital is a building products focused private equity firm investing in family and founder owned businesses that are seeking a collaborative, experienced partner to empower growth. About Artistic Pavers Manufacturing, Inc: Artistic Pavers Manufacturing, Inc. is a premium paver manufacturer serving residential and commercial markets across Southeastern and Southwestern U.S. markets.

Read More

CONSTRUCTION

SunRay Construction Solutions Wins Top Tech Firm Of 2022 For The Second Time In A Row

SunRay Construction Solutions | November 23, 2022

SunRay Construction Solutions is honored to have won the esteemed Top Tech Firm of 2022 award by Construction Executive Magazine for the second consecutive year. The Construction Executive Magazine’s Top Tech Firm award recognizes the largest technology firms serving the construction, architecture, and engineering industry. Having secured over $10 Billion annually for General Contractors, Subcontractors, and Suppliers, SunRay Construction Solutions leagues with top businesses that alter the facade of the construction industry through their dynamic use of technology. SunRay has been recognized for its success in implementing the exceptional application of technology with utmost dedication for its clients. In 2022, SunRay significantly upgraded its application to make a robust user interface to simplify its APIs for its clients. With the dynamic Deadlines Queue launch in 2022, clients can now meticulously track all their statutory document deadlines so none are ever missed. Further, to reduce the complexity of the processes, clients can now set up notifications based on their preferences to instantly see what deadlines are soon to be due and need attention. Likewise, with the launch of the Texas Queue in 2022, clients with construction projects in Texas can experience super intuitive filtering and gain more control over their 2nd-month notices, 3rd - month fund trapping notices, and Affidavit of Mechanic's and materialman's Lien. Enabling Construction RFI with project management, the Texas Queue eliminates all last-minute rushes, making it extremely simple for clients to track deadlines, manage documents, organize projects, and secure payment rights from a single application. About SunRay Constructions LLC: SunRay Construction Solutions continues to lead as a National Online Construction Documentation Service Provider, securing over $10 Billion yearly for its clients. SunRay’s Lien Research service and Deadline Management System are among its niche specialties, characterized by the meticulous and exhaustive research accomplished through an outstanding team and impeccable technology. SunRay has managed to set itself apart as a leader and pioneer in the construction documents services landscape, despite the highly competitive nature of the industry it operates. In just a decade, SunRay has been recognized for its contribution to the construction industry on a national scale, all while staying true to its primary goal of helping its clients get paid faster.

Read More

ENGINEERING TECH

Armstrong Steel Shares 2023 Pre-engineered Steel Building Trends

Armstrong Steel | November 28, 2022

The demand for pre-engineered steel buildings is exploding, according to Armstrong Steel. Because of the many benefits that these pre-engineered buildings provide, new industries are turning toward this type of construction for their structure needs. The recently released 2022 Pre-Engineered Buildings Global Market Report showed that the global steel market is expected to be worth $26.87 billion by 2026, which would represent a CAGR, or compound annual growth rate, of 11.98%. Pre-engineered buildings have structural columns, rafters, girts, purlins and sheeting which are engineered and manufactured specific to each building purchased and then assembled on site per the erection drawings and all the parts are numbered to correspond with the drawings. While pre-engineered steel buildings such as the ones manufactured by Armstrong Steel Buildings have been used extensively for workshops, storage, community halls, factories, airport hangars, strip malls and much, much more, they are also in high demand today for office buildings. Pre-engineered steel buildings provide many benefits, including their flexibility in usage, the speed at which they are constructed, and their overall cost. It's only natural, then, that more and more industries are turning toward this type of structure for their building needs. The increased demand for pre-engineered steel buildings in the office space market is a significant contributor to the market's expected growth as a whole. In many developing countries experiencing economic growth and rapid urbanization, these pre-engineered steel buildings are preferred because they are cost-effective and can be erected faster than traditional buildings. The report also states that pre-engineered steel buildings make up anywhere from 75% to 80% of all new corporate and commercial construction. It's no surprise, then, that the industry is expected to experience explosive growth in 2023 and beyond. One of the biggest trends in the steel building industry, according to Armstrong Steel Buildings, is the adoption of green building practices to positively impact climate change. Steel production has traditionally consumed a significant amount of energy and created a lot of emissions. New technological advances are allowing steel manufacturing companies to not only reduce their energy consumption but also reduce their emissions at the same time. Pre-engineered steel buildings are very eco-friendly, too. Armstrong Steel notes that steel itself is 100% recyclable and can be used multiple times over without compromising the integrity of the material. This is yet another reason why pre-engineered steel buildings are a smart investment for any company, organization, or individual who needs a new structure. About Armstrong Steel As a leading manufacturer of pre-engineered metal buildings, Armstrong Steel Buildings takes pride in delivering high-quality steel buildings across North America. Armstrong Steel Buildings has been delivering high-quality steel buildings for nearly twenty years and provides structures to residential, commercial, agricultural, industrial, cannabis, government, and military agencies.

Read More

Spotlight

How we use OpenSpace to capture 3D site photos and compare them side by side to BIM models to validate designs.

"For people who have a lot on their plate like Directors or for Design Managers, it's quite straightforward to pull up a side-by-side view of the model and make sure what’s been installed is actually the approved design", Kevin Hogan, Senior Design Manager.

This ease of access to information is not only valuable for our Design teams, but also for our clients. With this technology, we're able to take them along the journey with us, and also give them access to this information afterwards so they can revisit any part of the build process and use it as a tool while they maintain their asset for decades to come.

Resources