BreakingNews
February 9, 2017
                   
 
Market News

The final tally on U.S. construction for 2016 was reported by the Census Bureau on Feb. 1.  AGC's Ken Simonson in his weekly DataDigest summarized the report on Friday. "Construction spending totaled $1.182 trillion at a seasonally adjusted annual rate in December, a decrease of 0.2% from the November rate but a 4.2% y/y gain from the December 2015 rate... Actual spending in all of 2016 totaled $1.162 trillion, 4.5% higher than in 2015." 

Local construction starts and contracting jumped to more than $270 million in January. That's up from the $252 million started in Jan. 2016.

Project News  

In project news, Independence Excavating was awarded a $19.2 million contract by PennDOT for Freedom Road Upgrade Phase A, connecting Freedom Road from Cranberry to Route 65. Volpatt Construction was awarded the $2.4 million Nursing Unit 5A renovation at St. Clair Hospital. Campus Advantage interviewed Turner, PJ Dick, Continental and Rycon for its $40 million apartment on Forbes Avenue in Oakland. Mascaro is reported to have started work on renovating the former 76,000 sq. ft. Michael Baker HQ to offices for Shell Chemicals. Rycon Construction is underway on the $27 million, 172-unit Emerald on Centre apartments in Shadyside. Developer Alphabet City awarded the contract to build its $7 million, 60,000 sq. ft. East Liberty Centre office building. Check BuildingPittsburgh for more info. The Builders Exchange is reporting that bids are being taken from subcontractors on the renovation of the Allequippa Place apartments and construction of the 49-unit new Wadsworth Street Apartments, roughly $8 million in total construction. 

PenTrust's Tyler Nolland (left) with Landau's Steve Bishop and Sharon Landau at the Ironworkers Employers Association's annual banquet.

To keep up to date with the market check out  BuildingPittsburgh .  
Looking to see what's happening?

If you're planning an event for the construction or commercial real estate industries, check out the Industry Events Calendar at the Tall Timber Group website. (www.talltimbergroup.com) 

Double-check what else is going on in the industry on the dates you have in mind. Or check out what events you might want to attend. Interested in posting events? Email us for instructions.  
People News

 
Century Realty LLC, the real estate brokerage affiliate of Century Equities, Inc., announced that Molly Aderholt has joined its team of real estate professionals as Corporate Counsel for Century Realty. 

IKM has moved into its new offices on the 22nd floor at 11 Stanwix Street, Downtown.
Coming Events

Evening of Excellence, February 23

The Pittsburgh construction industry's bigest night will be held again at Heinz Field on February 23. Find out more about sponsorships and registration.
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CREW Luncheon: Technology & Start Ups

 

CREW Pittsburgh will hold a luncheon February 28, 2017 from 11:30 am - 1:30 pm at the Omni William Penn Hotel The discussion panel includes Mike Embrescia of WorkDesq, Michael Stuart of CBRE, Joanne Balley of Coterie Company, and Brad Ott of Faros Properties. These panelists will highlight what sets Pittsburgh apart from other markets in attracting both Start-Ups and established tech companies. 

Contact CREW or click to register.
 

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NAIOP Pittsburgh 24th Annual Banquet, March 9

Commercial real estate's biggest night is March 9, 2017. NAIOP Pittsburgh holds its 24th Annual Banquet at the David L. Lawrence Convention Center to honor the region's best real estate projects.  Download the banquet flyer to learn about sponsorships and registration.


WPANECA 3rd Annual Industry Evening, June 1

Western PA chapter of National Electrical Contractors Association is presenting Robert O'Neill, one of the country's most highly decorated Navy SEAL combat veterans at its 3rd Annual Industry Evening & Keynote Event.  This year's event will be held at Soldiers and Sailors Memorial Hall & Museum on June 1st. RSVP and register here or call 412-432-1155.

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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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