Colorado business leaders remained confident, although generally less optimistic about the economy looking ahead to the third quarter, according to the most recent quarterly Leeds Business Confidence Index, or LBCI, recently released by the University of Colorado Boulder’s Leeds School of Business. Expectations are lower for the third quarter of 2011, with the LBCI posting a reading of 51.6, down from 56.8 in the second quarter. Confidence waned across all indices, although most remained above the neutral mark of 50. Expectations for the national economy were once again especially bleak, falling back below neutral after two consecutive quarters of optimism, according
Construction employment remained mired in a five-year-long slump as the industry shed another 9,000 jobs from May to June, according to an analysis of new federal employment data recently released by the Associated General Contractors of America. Association officials said that declines in public-sector construction activity will negate any pickup in private sector demand unless Congress and the states promptly and fully fund needed infrastructure spending and streamline the approval process for public projects.The industry unemployment rate fell from 20.1% a year ago to 15.6% in June 2011, said Ken Simonson, the association’s chief economist. However, Simonson noted that the
Nashville-based Gaylord Entertainment Co.’s plan to build an $824-million hotel and conference center northeast of Denver in neighboring Aurora County, targeted for a late-2015 opening, has spawned friction between the two cities. The complex would be located on 85 acres in an area known as High Point, just south of Denver International Airport. Gaylord is buying the land from LNR Property LLC, Miami Beach, Fla., for an undisclosed amount, with the sale expected to close this year. Greeley, Colo.-based Hensel Phelps Construction Co. will serve as the general contractor.The 1,500-room resort, which would become the largest hotel in the Denver
Construction manager/general contractor Pinkard Construction Co., Lakewood, Colo., with Barker Rinker Seacat Architecture, Denver, recently completed the $5.3-million Brighton Oasis Family Aquatic Park in Brighton, Colo. Courtesy of Pinkard Construction The new park, which replaces the citys 50-year-old outdoor pool at Benedict Park, has a large pool area, two slides and a lazy river with a wave machine. The new park, which replaces the city’s 50-year-old outdoor pool at Benedict Park, has a large pool area, two slides and a lazy river with a wave machine. Pinkard completed the hyper-fast-tracked Oasis ahead of schedule and under budget despite losing the two
The Town of Georgetown, Colo., dedicated its newly expanded wastewater treatment facilities on June 21. The improvements replaced and upgraded the existing aging wastewater treatment facility equipment and processes, most of which incorporate sustainable attributes. Courtesy of the Town of Georgetown he Georgetown Wastewater Treatment Facility greatly improves the quality of water in Clear Creek, a busy Colorado artery that provides recreation and water supply to downstream agricultural and drinking water users. Courtesy of the Town of Georgetown (L to R) Bob Frachetti, president of Frachetti Engineering Inc., is joined by Georgetown Water and Wastewater Superintendent John Curtis; Cassandra Eyestone,
The Research Support Facility on the campus of the U.S. Dept. of Energy’s National Renewable Energy Laboratory in Golden, Colo., was recently certified LEED Platinum for New Construction by the U.S. Green Building Council. Courtesy of NREL At 222,000 sq ft, the RSF leverages energy efficiency and environmental performance in a large-scale commercial office building. At 222,000 sq ft, the RSF leverages energy efficiency and environmental performance in a large-scale commercial office building. With 19% of the energy in the United States consumed by commercial buildings, a DOE goal for the RSF project is to help change the way commercial
On July 1, Chris Achenbach, principal and director of construction at Zocalo Community Development, became the new chair of the executive committee for the Colorado District Council of the Urban Land Institute (ULI Colorado). He succeeded Bill Mosher, senior managing director of Trammell Crow Co. Upon completing his two-year term on June 30, Mosher stepped down from the presidency but will remain involved with preparations for the international ULI Fall Meeting to be held in Denver in October 2012. A licensed architect as well as a Class A General Contractor, Achenbach oversees Zocalo’s design and construction. He received a bachelor’s
On the heels of a sizable decrease in April, the Architecture Billings Index slowed even further in May. As a leading economic indicator of construction activity, the ABI reflects the approximate nine- to 12-month lag between architecture billings and construction spending. The American Institute of Architects reported the May ABI score was 47.2, a slight decrease from a reading of 47.6 the previous month. This score reflects a continued decrease in demand for design services (any score above 50 indicates an increase in billings).The new projects inquiry index was 52.6, down from a mark of 55.0 in April, its lowest
Construction spending fell for the sixth straight month in May, touching an 11-year low, as shrinking public outlays and residential construction swamped a rise in private nonresidential work, the Associated General Contractors of America reported recently in an analysis of new Census Bureau data. The construction trade association’s chief economist, Ken Simonson, predicted spending patterns would continue to be uneven. “Despite a few bright spots—power, manufacturing, and warehousing and distribution facilities—most construction is stuck in neutral at best or is shrinking,” Simonson said. “Five years removed from the peak in spending and jobs, the industry still faces a long road
At a seasonally adjusted annual rate of $376.1 billion, new construction starts in May dropped 6% from the previous month, according to McGraw-Hill Construction, a division of The McGraw-Hill Cos. Nonresidential building pulled back after its improved level in March and April, while residential building stayed weak. The nonbuilding construction sector showed moderate growth in May, as a strong gain for electric utilities offset a loss of momentum for public works. During the first five months of 2011, total construction starts on an unadjusted basis came in at $155.2 billion, down 9% from the same period a year ago.The May
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