Construction materials costs dropped in November, aided by a plunge in diesel prices along with smaller decreases in a variety of other inputs, according to an analysis of new federal figures recently released by the Associated General Contractors of America. Association officials noted that some of the price declines may be related to the fact that the threat of the fiscal cliff is already having an impact on demand for construction and related materials. “The recent price decreases are very welcome after years of price spikes that contractors could not pass on in a weak construction market,” said Ken Simonson,
Litigation over CityCenter’s half-built, never-opened Harmon Hotel on the Las Vegas Strip will stretch into 2014 as result of Clark County District Eight Court Judge Elizabeth Gonzalez’s recent order reversing prior demolition approval. The case to resolve defects with the $275-million, oval-shaped glass tower had been set for June 2013. Photo by Bill Hughes Harmon Hotel was part of the $8.5-billion, 18-million-sq-ft CityCenter complex, which opened in Dec. 2009 on the Las Vegas Strip. Photo by Bill Hughes Trial dates are set for June 2013 and Jan. 2014 for construction defect claims and payment issues over Harmon Hotel. Related Links:
The team designing and delivering the Ralph L. Carr Colorado Judicial Center has delivered the project two months earlier than originally anticipated. Developed by Trammell Crow Company, designed by Fentress Architects and built by Mortenson Construction, all of Denver, the $258-million, 695,767-sq-ft Colorado Judicial Center includes a courthouse and a 12-story office tower, which will become the home of the state’s judicial and legal agencies. A 327-space parking facility was also constructed on the block to the south, adjacent to the History Colorado Center. Photo Bryan Lopez Colorado Judicial Branch The iconic LEED-Gold Ralph L. Carr Colorado Judicial Center was
Multifamily property developer Wood Partners has broken ground on Alta City House, a five-story, 281-unit luxury apartment community in the heart of the bustling Union Station neighborhood, one of the most ambitious and closely watched urban redevelopment projects in the nation. Rendering by Norris Design The five-story, 281-unit luxury Alta City House will be built at 1801 Chestnut St., just west of the Denvers historic Union Station located at 17th and Wynkoop streets. Wood Partners and East West Partners, developer of Riverfront Park and the Union Station district, obtained financing for the $62-million project from USAA Real Estate Co. Alta
All major segments of construction spending increased in October, bringing total spending to a 37-month high at an annualized rate of $872 billion, according to an analysis of new federal data recently released by the Associated General Contractors of America. Association officials warned, however, that the “fiscal cliff” imperils future improvement in both public and private spending.“Widespread gains in spending in October, along with hefty upward revisions to estimates for the previous two months, show that construction has finally come out of its long slump,” said Ken Simonson, the association’s chief economist. “Although all major spending categories are far below
The Conference Board’s Consumer Confidence Index, which increased in October, posted a moderate increase in November. The index now stands at 73.7 (1985=100), up from 73.1 in October. The Present Situation Index was virtually unchanged at 56.6 versus 56.7 last month. The Expectations Index rose to 85.1 from 84.0 last month. Consumers’ appraisal of current conditions was relatively unchanged in November. Those saying business conditions are “good” declined to 14.4% from 16.5%, while those saying business conditions are “bad” deceased to 31.5% from 33.0%.Consumers’ assessment of the labor market improved. Those claiming jobs are “plentiful” increased to 11.2% from 10.4%,
Caesars Entertainment Corp. in Las Vegas has secured financing to convert Bill's Gamblin' Hall & Saloon, located along the Las Vegas Strip at Flamingo Road, into a boutique lifestyle hotel and casino. The $185-million renovation includes the addition of a rooftop pool as well as a nightclub to be managed by Drai Management Group. Photo courtesy Caesars Located along the Las Vegas Strip, Bill's Gamblin' Hall is set for a makeover in 2013, to become a boutique hotel/casino. Related Links: Caesars Unveils $550 Million Strip Development Caesars Finishes 23-Story Las Vegas Tower, Announces LINQ "This project exemplifies our strategy to
The new Southeast Wyoming Welcome Center, located just north of the Colorado-Wyoming state line off Interstate 25, offers much more than just restroom facilities to road-weary travelers. It also serves as a museum with interpretive displays, provides a new home for the Wyoming Office of Tourism and includes warehouse space for the Wyoming Dept. of Transportation. Photo courtesy of The RMH Group The buildings long axis allows for large amounts of daylight to enter the public areas and office spaces. Two hundred photovoltaic panels on the roof and south wall convert sunlight into power to supply much of the facilitys
Throughout the recent presidential campaign, several topics were discussed ad nauseam. In debates, interviews, campaign ads and stump speeches, the economy, taxes, job creation, national security and the national deficit got a lot of attention. But it has become clear that unless we have a catastrophic failure of another piece of infrastructure, there is little likelihood that our imperiled roads and bridges will receive the attention they deserve. And without a political push, federal funding will not be provided to correct decades of neglect. The U.S. has 4,000 dams in danger of bursting and flooding cities and towns. Our clean
Construction employment declined in 28 states from October 2011 to October 2012 even as 31 states and Washington, D.C. added jobs during the past month, according to a recent analysis by the Associated General Contractors of America of Labor Department data. Association officials noted that residential construction gains were being undermined by the broader business uncertainty being caused by the threat of the looming fiscal cliff. “The industry remains stuck in neutral, with a close balance each month between the number of states that add or lose construction jobs,” said Ken Simonson, the association’s chief economist. “Despite a strong pickup in
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