“Timing in the apartment world is everything [...] The time of year we release a building and when we start putting tenants in it is critical for a project’s success.” — MFE
Behind every successful construction project lies a team of people working to complete a project deadline. However, with automation and building manufacturing on the rise, many question how these methods of construction will change the way buildings are designed and built in the future. Will these... View full entry
It is critical that we learn to distinguish and differentiate our roles from our self. We get into trouble when we lose ourselves in our role instead of thinking in a detached way about how the role is viewed by others...we forget that others in our organizations are reacting to the role we represent in their work lives, not necessarily the interesting and thoughtful people we think we are. — Harvard Business Review
When we identify who we are with what we do professionally, set backs at work can often prompt us to spiral down emotionally. When something is merely an organizational issue we take it as a personal issue. Harvard University Lecturer, Timothy O’Brien, talks about the importance of... View full entry
Despite recent warnings from the American Institute of Architects (AIA) of weakening billings numbers among architecture firms, the organization continues to forecast positive economic growth for the construction industry into 2020, with several caveats. According to AIA's Consensus... View full entry
The Los Angeles office market has been on the upswing since 2013 and showed no sign of stalling in the second quarter as tech and entertainment firms continue to expand into new space.
Developers are responding to the demand by building new offices that are often rented long before they are completed, which was unusual during previous real estate cycles when tenants typically waited to see finished buildings before making commitments.
— The Los Angeles Times
The tech industry's expansion into the Los Angeles office market continues unabated, The Los Angeles Times reports. In recent months, Los Angeles has grown to become home to the third-largest tech workforce on the west coast, with San Francisco and Seattle still far in the lead. The... View full entry
Amazon boss Jeff Bezos is the richest person in the world with a current net worth of $125 billion, according to the Bloomberg Billionaire Index. And he’s investing much of his Amazon fortune in the development of space technologies through his aerospace company Blue Origin.
Why? “Because I think it’s important,” Bezos tells Norah O’Donnell of CBS Evening News in an interview which aired Tuesday.
— CBS News
In a CBS Evening News special, Amazon's Jeff Bezos shares with Norah O'Donnell the importance of his space initiatives and his aerospace company Blue Origin. In a passionate voice, Bezos exclaims, "We humans have to go to space if we are going to continue to have a thriving civilization." He goes... View full entry
The global tourism boom that’s inundated legacy destinations like Venice, Amsterdam, and Barcelona has birthed a term—overtourism—to describe the harried state of a city besieged by too many visitors. A recent report by the World Travel and Tourism Council, Destination 2030, looked at cities’ readiness for tourism growth and concluded that Vancouver, [...] had “visitor volumes and activities with potential to cause strain on the city.” — CityLab
Tourism is one proven way cities can boost their economy in addition to promoting cultural awareness. However, how much strain is tourism putting on these cities? According to recent CityLab coverage by Molly McCluskey, "overtourism" is a term city development and tourism councils are using... View full entry
Faced with this level of acquiescence, the case for unionising the profession becomes compelling. As a regulator of working conditions and a protective body for workers, a trade union would force the industry to adapt to healthier working conditions; without these decisions being left to the leading staff and management who are themselves usually under pressure to attain expected productivity levels. — Failed Architecture
While Eleanor Hill's Failed Architecture piece looks specifically at the missed opportunity of British architects to formally unionize, the argument for organized representation could be applied to the profession on a broader global level. "The specialisation of labour and consequent creation of... View full entry
In the first half of 2019, New York City apartment building sales fell 48% from the same period a year earlier, B6 said in a report. It was the biggest decline for any six-month period in data going back to 2009. In northern Manhattan, which includes Harlem, the drop in multifamily purchases led to a 61% slide in all commercial-property transactions, the firm said. — Bloomberg
Across New York City, as the effects of the New York State's recently-enacted rent control laws begin to take shape, apartment building owners are having a tough time finding investors to purchase their properties. According to Bloomberg, apartment building sales are down nearly 50-percent... View full entry
As a result of reduced tax revenue from the 2017 corporate tax cuts enacted by President Donald Trump, the development of at least 15,000 affordable housing units has been either delayed or eliminated entirely, The Sacramento Bee reports. The reason? A significant portion of affordable... View full entry
The desert outside Tennant Creek, deep in the Northern Territory, is not the most obvious place to build and transmit Singapore’s future electricity supply. Though few in the southern states are yet to take notice, a group of Australian developers are betting that will change. If they are right, it could have far-reaching consequences for Australia’s energy industry and what the country sells to the world. — The Guardian
Singapore is already considered to be one of the "greenest cities" in Asia and perhaps soon the world. With plans to have at least 80% of its buildings green by 2030, steps to make this goal a reality are well underway. Although obstacles like lack of cooperation from developers and investment... View full entry
Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, caused a stunning drop in foreign demand for American homes.
The dollar volume of homes purchased by foreign buyers from April 2018 through March 2019 dropped 36% from the previous year, according to the National Association of Realtors.
— CNBC
NAR’s Profile of International Transactions in U.S. Residential Real Estate 2019 survey reports that "for the seventh consecutive year, China exceeded all other countries in terms of dollar volume of purchases, buying an estimated $13.4 billion worth of residential property, a 56% decline from... View full entry
Demand for design services at architecture firms decreased in June in comparison to the previous month, according to a new report today from The American Institute of Architects (AIA).
AIA’s Architecture Billings Index (ABI) score for June was 49.1, which is down from 50.2 in May. Any score below 50 indicates a decrease in billings. Both the project inquiries index and the design contracts index continued to soften in June but remained positive.
— AIA
"With billings declining or flat for the last five months, it appears that we are settling in for a period of soft demand for design services," said AIA Chief Economist Kermit Baker, PhD, Hon. AIA. "With the new design contracts score reaching a 10-month low and the project inquiries score hitting... View full entry
The United States Green Building Council (USGBC) has announced a call for proposals to solicit feedback and concepts for the next version of LEED certification standards. According to the announcement, the organization is looking to expand and improve upon its recently... View full entry
Earnings for US construction workers now outstrip the private sector average as contractors face what’s being called one of the tightest labour markets they’ve ever experienced.
The situation has led a contractors’ group there to slam an education system that produces “too many over-qualified baristas and not enough bricklayers” as employers are forced to increase pay to attract skilled workers from a diminishing pool.
— Global Construction Review
Global Construction Review reports on the recent response by the Associated General Contractors of America to June's construction jobs numbers, which signaled a continued struggle for the industry to attract enough skilled workers — despite higher-than-average hourly earnings of now $... View full entry
Her newly resurrected 114-year-old Purse Building features a floor-to ceiling mural of the late Jacobs, an urbanist activist and author of The Death and Life of Great American Cities, superimposed on a downtown street grid. Above Jacobs’ striking bespectacled image, her mantra “New ideas need old buildings” blazes in neon lights. — Dallas Morning News
The Dallas Morning News profiles Tanya Ragan, a Dallas-based real estate developer who is taking on commercial real estate's "boys club" mentality with a Jane Jacobs-inspired approach. Ragan's Wildcat Management is behind a series of new and forthcoming projects, including the... View full entry