BreakingNews

July 29, 2015
                   
 
Market News


The Bureau of Economic Analysis reported the first reading of second quarter GDP this morning with few surprises. The report, which is the first of three estimates of GDP, showed expansion in the U.S. economy of 2.3%. While this was below forecasts of 2.9%, the lower estimate was in part due to an extraordinary revision of the first quarter upward from -0.2% to 0.6%. There are some changes in methodology for seasonal adjustment being undertaken and the result will be less volatility between first and second quarters. Without the adjustment, second quarter GDP would have grown faster.


The AIA's Architectural Billing Index showed another rebound last week, hitting a 55.7 for current billings. That's the highest since 2007. One noteworthy piece of the ABI report was a decline in multi-family projects.


Learn more about the economic outlook from DevelopingPittsburgh in August. To reserve a spot in the 2012 NAIOP Buyer's Guide or advertise click here.


Project News 

 

Canon McMillan put its $24 million Muse Elementary School out to bid due Aug. 6. Get more details at the PA Builders Exchange. Penn State selected the Mascaro/Tetra Tech team as design builder for its $6.6 million Ag Digestor & Barn. Mascaro was also selected as contractor for the new hotel being developed by Holly Brubach at the historic Granite Building. Massaro Corp. is working with Oxford Development on its $20 million Emerald on Centre Apartments. South Fayette Township selected Horizon Properties to develop the site of the former Star Theater into a town center.

 

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


Dollar Bank's Sandra Wise and Debbie Murtha (right) led CREW Pittsburgh's tour of Dollar's operations center on July 29.

 

People News

 

Berkeley Research Group has expanded its global Construction practice with the addition of the professionals from Paragon Construction Consulting, Inc. Based in Orange County, California, Paragon has a strong record of advising institutional owners on major projects throughout the United States. BRG welcomed approximately 60 individuals formerly associated with Capstone Advisory Group, including their leadership team. In addition to increasing depth to BRG's litigation, intellectual property, and bankruptcy service offerings, these individuals will greatly expand the firm's service areas of corporate finance, restructuring, valuation, fund services, capital markets, and transaction advisory in several key U.S. locations.

 

Scalo Incorporated announced the addition of Patricia Correa as AutoCAD Submittal Coordinator & Solar Hybrid. Correa will be responsible for all the post-sale administrative duties, including the creation of shop drawings. Scalo Incorporated also announced the addition of Karen Noel as Billing Clerk and the promotion of Valerie Woodard to Billing Clerk. 


 
Hanna Langholz Wilson Ellis relocated its offices to One PPG Place Suite 1600, Pittsburgh PA 15222.

Coming Events

 

Connect With CREW, August 20


 
Network with CREW Pittsburgh members and guests at Six Penn restaurant Downtown from 5:00 to 7:00 PM.. Click here for more information or to register.

 

  CREW logo
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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