Construction Jobs Blog

Headlines have continued to decry this historic correction in the first quarter of 2009.  But despite the foreboding coverage, green building has proved sustainable in more than one sense.  Firms and consumers are embracing the trend and proving that the economic downturn will not discourage the practice.

In fact, quite the opposite appears to be happening.  According to Turner Construction’s 2008 Green Building Barometer, 75% of commercial real estate executives said that credit market conditions would not stop them from constructing green buildings.  Citing reduced energy costs, higher building values and lower overall operating costs, the respondents suggest that the current economic doldrums will not take the wind out of green building’s sail. 

Green building is holding up in other ways as well.  According to the 2008 Green Survey:  Existing Buildings, more than 80% of commercial building owners Continue Reading »

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The looming stimulus bill stands ready to pump billions of dollars into construction projects across the nation, posing both opportunities and challenges to architects and builders.  In this video, president and CEO of Design + Construction  Strategies, Barbara Heller, gives her take on President Obama’s choice to have a chief performance officer, the breadth of the stimulus, technology to make the government more efficient and the lessons she’s learned working on projects involving the Pentagon and Reagan National Airport.  Also learn how green building guidelines such as LEED may be good at certifying aspirations, but lacking when it comes to measuring the benefits realized.

Heller’s firm specializes in using technology to improve efficiency in the construction industry.  She was interviewed on E&ETV’s OnPoint.

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Danish architects Bjarke Ingels Group (…BIG…) recently revealed a spectacular design in a bid to create a Prague landmark.  The structure, called Walter Towers, is actually a single building that has been effectively cut, twisted, and stretched to create a stunning visual ‘W’ effect.  BIG points out that Continue Reading »

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Swiss architects Herzog & de Meuron revealed their latest design earlier this week: 57 stories of apartments that emulate a Jenga game…in mid-play.  The cantilevered design will contain 145 two to five bedroom apartments, all with private open space accessible through 12 foot high glass doors. 

British artist Anish Kapoor designed the metallic sculpture at the bottom (the thing that looks like a giant drop of mercury).  Amenities include Continue Reading »

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No one ever said that building the largest freestanding structure on earth would be easy, but when Samsung Engineering and Construction began building the Burj Dubai, they never suspected that it would be their walkie-talkies that would be a problem.  According to Samsung’s project manager, Chang Geun Lee, the problems began at about 30 floors.  “We started to experience delays or no connection between the thirty-first and the ground floors, particularly in the core of the building,” said Lee.  Simply put, the walkie-talkies did not have the range necessary for such a massive structure.  For the rest of the story and more pictures, Continue Reading »

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Over the past few years, we have witnessed a massive outpouring of creative and ambitious building projects in Dubai, effectively positing Dubai as a leader, perhaps the leader, in cutting-edge and sustainable building.  In August, Dubai-based designer Timelinks announced plans for a futuristic city that will be nearly self-sufficient in many regards.

Timelinks has managed to combine one of the most enduring ancient designs with groundbreaking technology, appropriately naming the pyramid-shaped project “Ziggurat” (the word for an ancient, pyramid-shaped temple).  Ziggurat will be a carbon-neutral city, powered by steam, wind, and solar energy.  Strategically placed within the pyramid will be public and private “green spaces” for agriculture.  There are even plans for facial recognition technology being used for security purposes.  One of the hallmarks of the project would be a Continue Reading »

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The Federal Open Market Committee announced today a quarter point cut in the federal funds rate, lowering it to 2 percent.  This is the seventh time since September that the Fed has slashed interest rates.

“Recent information indicates that economic activity remains weak,” said the Fed, citing “subdued” spending, “soften[ing]” labor markets, and continuing problems with housing.  In response to concerns about inflation, the Fed acknowledged the recent rise of “energy and other commodity prices,” along with some key indicators of inflation.  Still, the Fed predicts that inflation will be moderated later this year, but says it will continue monitoring inflation developments carefully.  This statement could be an indication that the Fed is done cutting interest rates, at least for the time being, in light of the risks of inflation.

The Fed’s announcement comes on the heels of the Commerce Department’s announcement that the U.S. economy grew at a rate of 0.6 percent in the first quarter.  While a weak performance, it still outpaced predictions.  Some analysts say the positive growth lends weight to the argument that we are not in an actual recession.  Others remain more skeptical, saying we might undergo a ‘recession’ without actually experiencing negative growth.  Either way, Stocks are up today on the back of this announcement and yet another interest rate cut.

Click to see:  Federal Open Market Committee Release; Commerce Department Release; Image via New York Times.

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Builder Magazine released a sneak peak of the results from its well-known Builder 100 survey this week.  According to the results, David Weekley Homes rode its Texas markets to close the most homes of any private for-profit builder in 2007.

In 2006, Weekley came within 300 closings of then leader Shea Homes.  The jump last year landed Weekley at number 16 on 2007’s Builder 100 list (coming in early May), a gain of two spots.  Weekley closed 4,587 homes last year.

Shea, however, has not handed over all the reins to Weekley.  In 2007, Shea was still the largest private builder in terms of cash, with $2.15 billion in revenue.  Weekley rang in at number 2, with $1.34 billion.

D.R. Horton ranked first overall on the Builder 100 list for the sixth year running, closing 37,717 homes last year.  Lennar and Centex followed at second and third respectively; these three are the only builders to post more than 30,000 closings in 2007.

Here are the Top Ten Builders in 2007 from Builder magazine: Continue Reading »

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Yesterday, Centex Corp. announced the sale of a portfolio of properties through its subsidiary Centex Homes.  The joint venture is led by RSF Partners Inc. and has a price tag of $161 million.  Added to the $294 million in expected tax refunds, the total is about $455 million.

Roughly 8,500 lots in 27 neighborhoods throughout 11 states, mostly in California and Nevada, make up the portfolio.  Centex chairman and chief executive Timothy Eller said, “This transaction is consistent with our near-term goals of reducing our land supply and generating cash;” it “… accelerates our move to a more asset-light operating model, sharpens our focus on strategic markets and consumer segments, reduces future land development cash obligations and monetizes a meaningful portion of our deferred tax asset.”

Even though the lots are already developed or partially developed, Centex expects to save $265 million in future development costs related to the properties.  Centex has a 5% interest in the joint venture, and will get a larger share of distributions of certain fiscal goals are met.

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Today, the National Association of Realtors (NAR) reported that sales of existing homes increased in February, offering a ray of hope to the besieged residential market.  NAR Chief Economist Lawrence Yun commented on the data, saying “the latest reading on home sales further confirms stabilizing trends.”

February saw existing home sales increase 2.9 percent and break the 5 million unit pace (seasonally adjusted annual rate).  While sales are still down significantly from first quarter 2007, Yun says “the relationship between home prices, interest rates and income has improved to the point where buyers are more serious about making offers.”  In fact, about half of the U.S.’s metro areas witnessed price increases. 

While still high, total housing inventory was down 3 percent at 4.03 million existing homes for sale, a 9.6 month supply at the current sales pace.  January had a 10.2 month supply.  Yun called the decrease “very unusual,” and said it may indicate that the rush of speculative investors has tapered off, or that sellers are holding off listing.  Also, “according to Freddie Mac, Continue Reading »

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