BreakingNews

July 15, 2015
                   
 
Market News


Owing to continued demand for apartments and the start of a number of long-awaited projects, construction activity in the first six months was up significantly in metropolitan Pittsburgh. Commercial and institutional construction jumped 24.3% to $1.38 billion from January to June. Residential construction was up 31% year-over-year, with 2,380 units started in the first half of 2015. Within the residential segment, the increase in units started was all in the multi-family market, which had 1,488 units started compared to 843 for the same period in 2014. Because of lot shortages and continued regulatory pressures on development lending, construction of single-family detached homes remains depressed below the level of potential demand.

 

Project News 

 

Mosites is starting construction on a $6.5 million renovation and expansion of St. Alexis Church in McCandless Township. Rycon has begun site work for the new Dick's in Greenwood Plaza in Butler. PJ Dick has started the preliminary work on Google's 66,000 sq. ft. space in Bakery Square 2.0. In State College, Bids for the design-assist mechanical and electrical packages are being taken for the first phase of the $170 million Penn State East Residence Halls project. (Details are at PSU's bidding site).CM proposals are being taken from PJ Dick, Jendoco, Mascaro and Mosites for the $20 million + Forbes/Morewood development at CMU. Architectural proposals are also being taken for the project, which includes preparation of a town square, renovations to Warner Hall and a new building.

 

 

 To keep up to date with the market check out BuildingPittsburgh. 


Masonry work continues at Elmhurst's $19.5 million Schenley Place office in Oakland. Photo by Burchick Construction.

 

People News

 

Turner Construction made the following promotions: Shawn Bell was promoted to manager of business development; Will Masters was promoted to special projects/interiors operations manager; Drew Kerr was promoted to special projects/interiors general manager.


 
Value Properties appointed Debi Leopardi managing director of Value Ambridge Properties. Leopardi will be responsible for the activities at the Ambridge Regional Distribution & Manufacturing Center, replacing Gene Pash, who retires July 31. Leopardi has worked for Value Ambridge for 11 years.

Coming Events

 

MBA Young Constructors Sporting Clay Shoot, July 24


 
The MBAYC Sporting Clay Shoot will be held at Seven Springs Mountain Resort on July 24 at 11:00 AM. Entrance fee is $125/person. Click here for more information or to register.

 

 
ASA Golf Outing, August 24

American Subcontractors Association of Western PA will hold its annual golf outing at Chartiers Country Club on Monday, August 24.  Click for more information on sponsorship or registration.

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Tall Timber Group is the publisher of BreakingGround and DEVELOPINGPittsburgh magazines and the Pittsburgh Homebuilding Report, and is a consultant for contractors and designers serving the construction and real estate market. For more information about our services, contact Jeff Burd or call:


Tall Timber Group
506B McKnight Park Dr.
Pittsburgh, Pennsylvania 15237
412-366-1857

www.talltimbergroup.com

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