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Market News
News on the economy continues to point to a more robust recovery. Friday's jobs report blew away expectations, with 288,000 jobs added to the economy in June, dropping the unemployment rate to 6.1%. The Census Bureau reported earlier last week that its initial estimate of construction in May was a slight increase to an annual rate of $956 billion, a 6.6% increase over May 2013.
The fly in the ointment is the steep drop in the healthcare component of consumer spending. Consumer sentiment and spending in stores, online shopping, appliances, cars, etc. is up nicely. Spending on healthcare is down big time, primarily because the patient co-pay provisions of Affordable Care Act make patients think twice about 'discretionary' tests and follow up visits. You can read more about the details of this trend and the impact on construction in the March/April BreakingGround.
Project News
University of Pittsburgh took CM proposals July 3 for its $17 million Murtha Center and science building renovation at the Johnstown Campus. Proposals reportedly came from Mascaro, Massaro, PJ Dick, Rycon & Volpatt. The Carnegie Library has invited Allegheny Construction, Burchick, Massaro, TEDCO & MBM to bid the renovations to its Beechview branch library on July 24. Details are at the PBX website..Ligonier Valley YMCA is taking bids July 22 on a $6 million addition and renovation. Baby products manufacturer 4Moms is taking bids July 23 on its 78,000 sq. ft. headquarters fitout at Elmhurst's 912 Ft. Duquesne Blvd. building. Millcraft Investments/McKnight Realty Partners selected a design/builder for its $20 million 350 Oliver parking garage/commercial redevelopment of the former Saks Fifth Avenue site. See more details at BuildingPittsburgh.
Massaro Construction Group promoted Demeshia Seals to the newly created position of executive vice president and COO. She will be responsible for all day-to-day operations at MCG, reporting to president and CEO Joe Massaro III. Ms. Seals has an MBA and a BS in chemistry from Mississippi State University. She is a graduate of Leadership Pittsburgh 2013 class. She serves on the boards of the Sarah Heinz House, Goodwill Industries, and on the Development Committee for Junior Achievement. She is also a mentor for at-risk youth.
David Lyon was recently appointed Vice President and in charge of the Commercial Construction Group at McKamish, Inc., where he has served as a Project Manager for 10 years. He will be responsible for all commercial construction work.
Robert Ober joined YKK AP as architectural sales representative for aluminum window and curtainwall products in western PA, eastern Ohio and West Virginia markets.
Not feeling up to speed on the market? Check out BuildingPittsburgh.com.
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Coming Events
James Kling Fellowship Deadline, July 11
The James Kling Fwllowship was established by the AIA-MBA Joint Committee to recognize individuals who best exemplify collaboration between architects and contractors. Nominations for the 2014 award are due July 11. Contact Jon O'Brien for nominations.
Legal Aspects of Sustainable Design, July 17
The Construction Specifications Institute (CSI) will a breakfast presentation on the legal aspects of LEED and sustainable design on July 17 at the MBA's Education Center, 631 Iron City Dr. Pittsburgh PA 15205. The program will be presented by Michael J. Cremonese of Burke Cromer Cremonese LLC. Click for information or to register.
1st Annual MBA Young Constructors Clay Shoot, July 25
The MBA's YC will hold its clay shoot Friday, July 25 at Sevens Springs Resort. Email the MBA for more information about sponsorship and registration.
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