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Looking Ahead to 2014: Downtown Hotels and Apartments
Because there were so many interesting construction projects in 2013, I did not have enough space in my last issue to publish a preview of 2014. Here is a short list of downtown projects reflecting the continuation of two continuing trends--hotels and apartments.
From our windows you can watch the demolition of the old County Administration Building. A new Hilton Hotel will rise from the debris.
We can also see the work inside the old CMSD Administration building as it transforms into a new Drury Hotel.
Just behind it, from our view, the Lincoln Building will help fill the need for parking with new spaces but will also add renovated street-level retail and top-floor living space.
On Public Square, keep your eyes open for more news involving the May Company building, which could also house apartments and parking if financing for a plan comes together.
At Euclid and East 18th, the Jewish Federation building will come down and a 500-bed student housing project will go up.
And, another 243 apartments will rise on the east bank of the flats.
Though it was last year that news broke of the Heinen's grocery store in the rotunda of the old Ameritrust bank at East Ninth and Euclid, with all of the full-time residents and part-time guests who will be downtown, a grocery seems to be a sure bet.
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Upcoming Educational Opportunities
On March 27, 2014, Joel Hlavaty and Keith Ashmus will discuss the Family and Medical Leave Act at a seminar sponsored by Lorman.
On April 3, 2014, our Litigation Group will present its annual seminar. More detail to come as plans are finalized.
On April 10, 2014, I will provide insight into negotiation of payment provisions in construction projects at a seminar sponsored by NBI.
On May 13, 2014, our Labor & Employment Group will host its annual seminar. More detail to come as plans are finalized.
If you are interested in any of these programs, please just let me know.
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The Original Source for Construction Industry Data
Growth in Green Energy
The Solar Energy Industries Association ("SEIA") publishes a quarterly update, with a free Executive Summary available here. The American Wind Energy Assocaiation ("AWEA") publishes its quarterly updates here.
Residential Construction and Sales
Data from the Census Bureau on housing permits, starts, and completions is available here. The NAHB's web site provides a wealth of other data from its research here. The monthly S&P/Case Shiller Housing Price Indices are available here. And, the National Association of Realtor's Pending Home Sales Index is here.
Industry-wide Construction Data
Data from the Census Bureau on construction spending is available here. It will cost you a few bucks, but McGraw Hill's forward-looking market research is available here. It will not cost you a penny to review the Associated Builders & Contractors' forward-looking Construction Backlog Indicator, here, which measures non-residential work under contract but not yet under construction.
The American Institute of Architects Leading Indicator
Ask architects if their non-residential construction billings are improving, and you get a pretty good idea of where non-residential construction spending will go in nine to twelve months. The AIA publishes frequent press releases summarizing its subscriber-based Architecture Billings Index here.
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