Despite lingering concerns about an ill-defined recession, the nation's construction industry may well see new growth in 2024 due primarily to projects funded via the Infrastructure Investment and Jobs Act. So concludes the authors of a comprehensive new report issued by the Deloitte accounting firm called 2024 Engineering and Construction Industry Outlook and predicting that contractors may experience increased work in the manufacturing, transportation infrastructure, and clean energy infrastructure sectors. But such projects, says the report, will come with their own complexities. Engineering and construction firms "face a multidimensional challenge on this front as they adapt to evolving market trends and environmental regulations and meet customer demands for greener buildings, while also preventing construction costs from accelerating too quickly." In so doing, the combined construction and engineering industries may well find themselves embracing such measures as the reduction of carbon in construction materials, passive design principles, and a greater utilization of energy-efficient equipment. In this arena, Washington is serving as a catalyst for new work and methods in providing nearly $2 billion in tax credits for energy improvements in insulation, lighting, heating, ventilation, and air conditioning systems. On the matter of passive design, continues the report, builders and engineers can orient buildings to "avoid or capture solar heat," while also incorporating more green roofs, daylight response lighting controls, and "designing building envelopes for effective insulation and moisture control to stabilize indoor temperatures." The advent of what are popularly referenced as "severe weather events" are also increasingly bringing to the fore "self-healing or high-performance eco-friendly concrete, electrical steel, graphene and carbon fiber composites." Throw into the mix treated wood, low-carbon bricks, and silica fumes, contractors in 2024 are expected to increasingly be ready to take on new work in a new way of doing things. Whatever the exact methods to be implemented, contends the Deloitte report, building and engineering companies will be increasingly slated to "begin prioritizing sustainable design tactics and structural performance during the design phase." Such methods, representing a new world for some companies, may very well offer new opportunities, suggests the report, because improving efficiency and increasing delivery confidence will also lead to "lowering project expenses and risks." Founded in London in 1845, Deloitte is commonly regarded as one of the top accounting firms in the world, providing auditing, consulting, and tax advice, among other services. By Garry Boulard
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A more precise definition of how tall a building can be in downtown Colorado Springs may be in the offing in the wake of a proposal to build a 36-story apartment complex. That high-rise project has been presented to city officials by the O'Neil Group, a Colorado Springs-based developer, working in a partnership with the Vela development company of St. Louis, Missouri. As planned, the 36-story structure, housing nearly 500 residential units, would go up just to the east of the Olympic and Paralympic Museum, at the southeast corner of Costilla and Sahwatch streets. To be called the VeLa Peakview, the complex will be designed to include studio and one- and two-bedroom apartments, as well as ground floor retail, a fitness center, and swimming pool. The project was originally proposed in 2021 as a 25-story structure with just under 320 units. New levels were added to the proposal when it was determined that a smaller building might not be financially feasible. Now opposition to the taller 36-story proposal has materialized, noting that the structure, if built, would be the tallest of its kind in Colorado Springs, with the potential for blocking views of the Pikes Peak mountain summit some 30 miles to the west. For decades the tallest structure in Colorado Springs was the 14-story Holly Sugar Building, which went up in 1966 and later became the FirstBank Building. In 1990, the city saw construction of the 16-story Wells Fargo Tower, which for the last generation has held the title of tallest building in Colorado Springs. Although the height of the proposed VeLa Peakview is not in violation of any existing zoning codes in the downtown area, opponents have suggested that there has always been a general consensus that buildings in Colorado Springs should at the least be less than 20 stories in height. In discussions before the Colorado Springs City Council, member Dave Donelson expressed the view of many residents when he remarked: "If we allow one of these high-rises, other will follow." Donelson added: "People don't want us to start looking like Denver." Despite the opposition of some residents, the VeLa Peakview has won the support of such groups as the Colorado Springs Urban Renewal Authority, which is viewing the project as a catalyst for additional future downtown development. Still in the planning stage, the project is expected in the months ahead to be reviewed by the local planning commission as well as the Colorado Springs City Council before a final approval is granted. By Garry Boulard The work preserving a well-known cavernous three-story brick building in downtown Pueblo has been hailed by the State of Colorado as an example of what historic preservation can produce at its best. Located at 400 S Union Avenue, the former Holmes Hardware Building was built in 1915 and for decades served as both a hardware store and warehouse. Its stock included everything from batteries to construction tools, locks, chains, roofing, and mortar mixes. In the 1920s, the store sold a contraption called the Klean Kwick Electric Washer: a copper tub with wringer, motor, and folding benches for cleaning clothes. The 33,000-square-foot structure remained a retail space until well into the late 1970s before closing its doors and remaining vacant for some four decades, to the chagrin of city officials. Then, in early 2020 two commercial brokers, Nathan Stern and Zach Cytryn, began the process of trying to secure funding to bring the Holmes building back to life. The entrepreneurs decided, after purchasing the property for $2.7 million, to repurpose the lower level of the building as a food hall with a number of different restaurants, while the upper levels would given over to workforce housing. The restoration and repurposing of the historic structure ended up costing around $16 million, with work on what has since been named the Fuel & Iron Food Hall seeing completion earlier this year. Now Colorado’s historical preservation agency, History Colorado, which is a division of the Colorado Department of Higher Education, has publicly hailed the Holmes Hardware Building renovation, bestowing upon it its Stephen H. Hart Award for Historic Preservation. The award is named in honor of Colorado’s first State Preservation Officer. In announcing the award, Governor Jared Polis said it was designed to “celebrate innovation across the state that preserves the Colorado we love, while creating new spaces for communities to come together, and that’s exactly what Fuel and Iron is.” In a press release from the History Colorado group, it was noted that recipients of the Hart award are recognized for their “innovative approaches, in-depth research, and/or use of proper techniques that honor the historic significance and craftsmanship of Colorado’s archaeological and built environment.” By Garry Boulard The McDonald’s Corporation has announced plans to build a series of restaurants in Texas and most likely eventually other states that will be less food destinations and more along the lines of a coffee shop. What is being called CosMc’s will offer a variety of such coffee products as turmeric-spiced lattes, churro frappes, and cappuccinos, in what industry analysts say is the company’s direct challenge to giant Starbucks, which currently has more than 16,000 stores in the U.S. The new CosMc’s stores, which will also feature sandwiches and a variety of desserts, will be built as only drive-up locations, with no seating space. In an interview with USA Today, Christopher Kempczinski, McDonald’s chief executive officer, said the new stores will be distinguished by featuring a “small format concept with all the DNA of McDonald’s, but its own unique personality.” The company has already opened one location in Bolingbrook, Illinois, and announced plans to soon open ten other pilot stores in the Dallas and San Antonio metro areas. Based in Chicago, McDonald’s is the largest fast food restaurant chain in the world, with around 40,000 locations globally. Founded in 1940, the company saw revenues in excess of $23 billion last year, up from $19 billion in the pandemic year of 2020. The company has said that it plans to build another 10,000 standard McDonald's locations in the U.S. and internationally by 2027. By Garry Boulard Northern Arizona University in Flagstaff may see the construction over the course of the next decade of enough new residential space to house 1,200 beds. That ambitious plan is part of the Flagstaff-based school’s new Sustainable Campus Master Plan, which has now been approved by members of the Arizona Board of Regents, and is also calling for renovations to nearly two dozen existing building on the main campus. The school, which has seen its enrollment increase from 17,100 students a decade ago to just over 28,000 today, also has plans to renovate its nearly 60-year-old Cline Library as part of the master plan’s phase one work, building a 58,000 addition to that facility in phase two. Additional plans call for building a 23,400-square-foot addition to the Native American Culture Center, which is located at 810 Knoles Drive and was built in 2011. A new 3,500-square-foot structure that will house NAU’s nursing program is also scheduled for work as part of the master plan’s phase one projects. The plan also tackles a challenge familiar to college campuses everywhere: deferred facility maintenance. Just keeping up with the repairs needed for the school’s buildings is expected to cost around $80 million between now and 2033. Renovation work on 23 buildings across the campus, meanwhile, is expected to carry a roughly $600 million price tag. “Not everything in this plan will get implemented,” Bjorn Flugstad, senior vice president for university affairs at NAU, recently remarked to the Flagstaff Business News. The fate of the many projects listed in the master plan will ultimately depend upon both private giving to NAU as well as state funding. NAU is the fourth largest institution of higher learning in Arizona, behind the private Grand Canyon University, the public Arizona State University, and the University of Arizona. By Garry Boulard The renovation of a century-old theater in downtown Clovis is expected to see completion some time in 2024, owing to an infusion of grant support. Located at 409 Main Street, the Lyceum Theater was completed in 1920 during the era of silent movies and has been listed on the National Register of Historic Places for nearly two decades. Designed by the Kansas City, Missouri architectural firm of Boller Brothers, which specialized in theater design especially in the 1920s and 30s, the Lyceum has been closed for most of the last decade. Grant funding of some $500,000 from the New Mexico MainStreet program, along with another $500,000 secured the Saving America's Treasures program, which is administered by the National Park Service, have bolstered hopes that the Lyceum may be only months away from being restored. That work will include installing a new sign for the theater, as well as painting the exterior, updating interior and stage lighting, and redoing both the auditorium and stage flooring. According to the Santa Fe New Mexican, the City of Clovis has previously installed "new sound and lighting and remodeled the restrooms." In the first several decades of its existence, the Lyceum, which was acquired by the City of Clovis in 1982, was a stopping off point for Hollywood actors advertising their latest film appearances, hosting the likes of Shirley Temple, Gene Autry, and Will Rogers. The theater in 1929 aired one of the first talking movies in New Mexico with a showing of the film Chinatown Nights starring Wallace Beery. By Garry Boulard New Pew Research Survey Shows Pandemic's Differing Economical Impact on a Variety of Households12/14/2023 A multitude of reports have shown that the Covid 19 outbreak in 2020, with its subsequent national lockdown, proved economically challenging to families across the country. But now a new survey published by the Pew Research Center is indicating that the pandemic years were particularly challenging for poorer white families and families of color. According to the survey, poorer white families had increased debt loads of around $4,700 as of the last month of 2021, while poorer black households had an average indebtedness of $4,000. Poorer Hispanic families were able to end up even with the number of debts they owed; while poorer Asian families experienced the greatest debt load of the minority groups studied with an average of $8,900. Racial gaps in wealth, prevalent for decades, remained constant during the pandemic years of 2020 and 2021, with white households having nine times as much wealth as of the end of 2021 as did black households. Similarly, notes a narrative accompanying the Pew survey, white households had "five times as much wealth as Hispanic households in 2021 and three time as much as multiracial households." But despite their high rate of indebtedness, "Asian households had more wealth than white households" as of the end of 2021. Overall, the initial covid years were not all bad for everyone economically: "The pandemic itself helped households boost their savings initially by driving a reduction in consumption." Various studies have since shown that all U.S. households saved a total of $2.3 trillion more after the pandemic than was the case in the year before Covid 19. "That is upwards of $15,000, for each household." At the same time, all U.S. households, regardless of color or race, "benefited from rising home prices," which increased from 2019 by around 31% heading into 2022. The home price increases lessened throughout 2022, with an overall gain of 5.7%. But those price increases, says the narrative, have to also be put in the context of other countervailing trends: "Mortgage rates doubled from 3.1% at the end of 2021 to 6.4% at the end of 2022, and stock prices tumbled 19.4% over the year." The Pew Research report was based on statistics collected from the U.S. Census Bureau's Surveys of Income and Program Participation which consisted of information gathered from more than 17,000 households. By Garry Boulard Work is expected to begin next April on the building of a new fire station on the east side of Pueblo, Colorado. The project will replace the Pueblo Fire Department's current Station 6, which is located at 1325 East 4th Street. The department currently has ten stations located strategically on all sides of the city but has also announced plans to build an eleventh station that will go up at the intersection of Pueblo Boulevard and West 24th Street. That newest station will be designed to provide coverage to the growing west side of the city. As earlier announced, the new stations will not only provide more equipment space but will also have living quarters with bedrooms and kitchens, training facilities, and gym space. Just as important as the new space, construction of the fire stations will see the creation of truck rooms that are separated from the rest of the facilities. To this end, Barb Huber, chief of the fire department, said the stations will feature a better ventilation system to dispose of toxic fumes from the trucks. Work may begin on yet a third new station, this one on the north side of the city, later next summer. This third project will see the replacement of Station Number 8, which is located at 1551 Bonforte Boulevard on the upper north side of the city. Funding for the new facilities work is coming through some $37 million in Certificates of Participation approved earlier this year by the Pueblo City Council. Such certificates are typically used by cities to fund infrastructure and facilities projects, paying back whatever the amount is on a long-range basis. The Pueblo Fire Department was officially created in 1889 when the city's population stood at around 24,000. Today that city is home to some 112,000 residents, with the fire department responding to more than 30,000 calls a year. By Garry Boulard The popular Gateway Park in Farmington may soon see the construction of a facility designed to protect visitors from the intense New Mexico sun. City officials say plans have long been in the making to build a covered pavilion in the park, which is located in the 3400 block of E. Main Street near the banks of the Animas River. By design, the pavilion will be put up in the area used as a farmers’ market, connecting that area with the seating for a nearby amphitheater. Previous reports indicated that the structure would measure around 60 feet by 80 feet, and will also include a storage area, restrooms, and concessionaire kitchen. In an earlier statement, Warren Unsicker, director of economic development for the City of Farmington, said the pavilion will “enable numerous user groups and markets to operate without being impacted by the weather.” The New Mexico Tourism Department has recently made the project more feasible with a $500,000 grant that is a part of its “Destination Forward” program. That Tourism Department funding comes on the heels of a $1.2 million Regional Recreation Centers/Quality of Life grant announced by Governor Michelle Lujan Grisham to build the pavilion and fund several other Gateway Park initiatives. By Garry Boulard New legislation has been introduced in both the Senate and House of Representatives calling for a tax credit to spur affordable rental housing for working Americans. In presenting what is officially called the Workforce Housing Tax Credit, Oregon Democrat Senator Ron Wyden remarked: “Right now, America’s nurses, firefighters, and teachers are struggling to find affordable housing near the communities they serve.” “More must be done to fill the ‘missing middle’ between low-income housing and million-dollar homes,” Wyden continued. By establishing what he said is a “middle income tax credit,” Wyden said the legislation will “guarantee more housing.” In addition, the bill will “help housing finance agencies best meet the needs of their individual communities.” As designed, the legislation would make it possible for state housing agencies to issue credit allocations to various developers that could then be sold to investors. Using the proceeds, the developers would then have more available funds for building apartments. Put simply, said the bill’s co-sponsor Alaska Republican Senator Dan Sullivan, the legislation will “catalyze the private sector to build more housing in urban and rural areas for working families.” Wyden has long been involved with affordable housing issues. Earlier this year, he remarked “housing ought to be a basic human right.” The legislation, however, has sparked the opposition of the National Low Income Housing Coalition, calling it a “misguided and wasteful use of scarce federal resources.” The group added that “middle-income families comprise less than 1% of those facing significant housing challenges, while 92.5% of severely cost-burdened households have very low or extremely low incomes and would not be served by the new tax breaks.” The National Association of Home Builders, on the other hand, has announced its support of the legislation. In a statement, the group said it is “exactly the type of solution we need Congress to enact in order to begin solving the housing affordability crisis.” By Garry Boulard |
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