BreakingNews

BreakingNews

June 29, 2016

Market News

The June jobs report was - not surprisingly - almost a mirror image of the "surprise" report on May's hiring. Employers added 287,000 new hires in June, according to the Bureau of Labor Statistics, which was well above the 175,000 consensus estimate. Within the report were two noteworthy items. First, the categories of employment that grew the most were higher-paying sectors like IT, education and health services and professional services. Second was the continued growth in wages. Pegged only one-tenth percent higher in June compared to May, wages were nonetheless 2.6 percent higher year-over-year. That represents healthy growth over price inflation and a steady - if unspectacular - trend upward over the past year.

Project News

Fox Chapel School District advertised the $10 million Dorseyville Middle School project, the first of its four-school renovation program. See the PA Builders Exchange for details. Mosites Construction was the low bidder for Pitt's $8.4 million Trees Hall playing fields replacement. Check BuildingPittsburgh for the results. A. Martini & Co. was successful on a pair of $2 million-plus projects Downtown: the Eckert Seamans tenant improvement at 600 Grant Street and the City Works restaurant at 2 PPG Place. Turner Construction was selected by the RIDC to perform preconstruction services for a 65,000 square foot commercial building planned for Almono in Hazelwood. Dick Building Co. was awarded the $12 million Hotel Indigo proposed for the Pittsburgh Technology Center on Second Avenue.

Officials from UPMC, Massaro and IKM break ground on UPMC's new ambulatory center in Hampton Twp.

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

Coming Events

NAIOP Pittsburgh Monthly Meeting, July 21

NAIOP Pittsburgh will hold its monthly meeting July 21 at the Omni William Penn from 8:00 to 9:30 AM.Doug Herold of Integra Realty Resources will present "Demistifying Commercial Property Tax." Details and registration are available at NAIOP Pittsburgh's website.

MBA YC Sporting Clay Shoot, July 22

The MBA Young Constructors will host its 3rd annual Clay Shoot at Seven Springs Mountain Resort on Friday, July 22 with registration beginning at 10:00AM. For more information or to register see the event flyer.

ACE Mentor Golf Outing, September 15

ACE Mentor Program Western PA Chapter is hosting its inaugural golf outing on Sept. 15 at the Quicksilver Golf Club. Foursomes and sponsorships are going fast so click to register or learn more about sponsorship opportunities.

International Reality Capture Workshop, Volterra Italy, October 10-22

Together with Autodesk and 3D Robotics, Case Technologies will be leading an International Reality Capture Workshop from October 10th - 22nd through the Volterra-Detroit Foundation International Residential College. The course will offer hands-on training and an opportunity for experimentation with the latest photogrammetry, laser scanning and computer modeling technologies. Contact Mark Dietrick by email or call 412-276-0500. Learn more about the workshop at the Volterra-Detroit Foundation website.

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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

Learn more about GBA events.