Search results for "multi-family residential"
Back in the black
Architecture Billings Index witnesses resurgence after bad start to 2017
- Regional averages: Midwest (52.4), South (50.5), Northeast (50.0), West (47.5)
- Sector index breakdown: institutional (51.8), multi-family residential (49.3), mixed practice (49.2), commercial / industrial (48.9)
- Project inquiries index: 61.5
- Design contracts index: 54.7
New Year Blues
Architecture Billings Index indicates slow start to 2017
This isn't fake news, the Architecture Billings Index (ABI) has dipped, and no, Jimmy Kimmel isn't here to rectify the mistake. The bad start to the year comes off the back of what had been a positive end to 2016 for the ABI. In January, the AIA reported an ABI a score of 49.5, a contrast to December's 55.6.
Indeed, the last month of 2016's score indicated the largest increase in design services for that year, but perhaps it is an unjust comparison to make. The previous two January scores were slightly negative and came after positive December scores. Last year, the ABI score for January was 49.6 but the following six months were all positive scores. So perhaps we shouldn't be too worried, yet.The ABI is the leading economic indicator of construction activity. It reflects a 9 to 12 month lead time between architecture billings and construction spending. The national index, design contracts, and inquiries are calculated monthly, while the regional and sector categories are calculated as a three-month moving average. The index runs on a scale from 0-100 and scores above 50 suggest growth while anything below implies negativity in the market. “This small decrease in activity, taking into consideration strong readings in project inquiries and new design contracts, isn’t exactly a cause for concern,” said AIA Chief Economist Kermit Baker in a press release. “The fundamentals of a sound nonresidential design and construction market persist.” Key January ABI highlights:
- Regional averages: South (54.2), Northeast (53.0), Midwest (52.4), West (48.8)
- Sector index breakdown: institutional (54.6), commercial / industrial (53.4), mixed practice (48.1), multi-family residential (48.1)
- Project inquiries index: 60.0
- Design contracts index: 52.1
Architecture Billings Index
No drama as ABI ends on much-predicted positive note
When the AIA said the Architecture Billings Index (ABI) was honing in on a positive note to end the year, most people believed them. The ABI had been on an upward trend two months prior and December's continuation of this wasn't all that unthinkable.
A December score of 55.9 to cap the year off was up from November's (also positive) score of 50.6 and marked the third positive score in a row off the back off a two-month slump before hand. December's score for the ABI indicates the largest increase in design services in 2016. Though project enquiries came down from 59.5 to 57.2, design contracts rose to 51.2 from 50.2.
The ABI is the leading economic indicator of construction activity. It reflects a 9 to 12 month lead time between architecture billings and construction spending. The national index, design contracts, and inquiries are calculated monthly, while the regional and sector categories are calculated as a three-month moving average. The index runs on a scale from 0-100 and scores above 50 suggest growth while anything below implies negativity in the market.
“The sharp upturn in design activity as we wind down the year is certainly encouraging. This bodes well for the design and construction sector as we enter the new year”,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD in a press release. “However, December is an atypical month for interpreting trends, so the coming months will tell us a lot more about conditions that the industry is likely to see in 2017.”
Key December ABI highlights:
- Regional averages: Midwest (54.4), Northeast (54.0), South (53.8), West (48.8)
- Sector index breakdown: commercial / industrial (54.3), institutional (53.3), mixed practice (51.9), multi-family residential (50.6)
- Project inquiries index: 57.2
- Design contracts index: 51.2
Ending on a high(ish)
Architecture Billings Index clings on to positive score as 2016 comes to a close
Kansas City–based architect el dorado and developer Silliman have released schematic designs for a mixed-use commercial and multi-family residential project as part of a larger development, Cortex 3.0, a bioscience and technology research community in St. Louis. The project will include 180,000 square feet of residential and 20,000 square feet of retail throughout seven stories. The approximately 220 apartment units range from studios to two bedrooms and balconies are nestled in setbacks along the building facade. Though materials have not yet been designated, initial renderings envision the project wrapped in corrugated metal, referencing the site’s industrial past. The growing Cortex district will also include a hotel designed by Boston-based Group One and a new office building designed by the St. Louis office of HOK. El dorado’s project is expected to be complete by the end of 2018.Architect: el dorado Client: Cortex Location: St. Louis
Cabinet of Curiosities
Trump choses Dr. Ben Carson to lead HUD
Seeing the Big Picture
Building-sized mural will cover the latest L.A. Arts District development
Whether Dr. Carson may take the job is unclear—according to ABC, just last week one of his advisors said Dr. Carson wouldn't accept any cabinet positions in light of his lack of government experience (which also raised eyebrows, considering Dr. Carson initially ran for the nation's highest office). But Dr. Carson also remarked to The Washington Post that, "I’ve said that if it came to a point where he absolutely needs me, I’d reconsider. But I don’t think that’s the situation with these positions." Created in 1965 as part of President Lyndon Johnson's "Great Society" program, the United States Department of Housing and Urban Development (HUD) has a $48.3 billion budget which goes toward objectives such as: disaster relief, reducing homelessness, working with Fannie Mae and Freddie Mac, combating housing discrimination, and building and maintaining single- and multi-family housing across the U.S. It's unclear what Carson's qualifications or relevant experience(s) would be for this position, but according to Fox Business, we can expect to hear his answer after Thanksgiving.
I am seriously considering Dr. Ben Carson as the head of HUD. I've gotten to know him well--he's a greatly talented person who loves people!— Donald J. Trump (@realDonaldTrump) November 22, 2016
- Regional averages: South (53.7), West (49.7), Northeast (47.3) Midwest (46.8)
- Sector index breakdown: Multi-family residential (51.2), Commercial/Industrial (49.8), Mixed Practice (49.5), Institutional (49.1)
- Project inquiries index: 55.4
- Design contracts index: 48.7