Although unemployment in the construction industry is still high, the mortgage financing company Freddie Mac believes the number of available jobs will begin to rise by the end of the year, reports the International Business Times. Growth in the housing industry will play a major role in bringing construction crews back to work, the company projects.
Topics: Construction, Industry Headlines
Construction underway on cutting-edge cancer research facility
Construction is set to being on the new McClaren-Flint Hospitality House in Flint Township, Mich., which will work in tandem with the soon-to-be-completed Proton Therapy Center next door.
Topics: Construction, Industry Headlines
New home construction reaches best levels since 2008
The construction industry is seeing marked annual and month-over-month improvements, according to recent government reporting. The U.S. Commerce Department indicates new home construction across the board jumped up 6.9 percent to an annual rate of 760,000 from 711,000 in May. Bloomberg reports this is the highest number of housing starts since 2008, and is better than economists surveyed by the news source predicted (a rate of 745,000). In fact, the Commerce Department indicates the current rate of improvement could even lead to the industry contributing to national economic growth this year.
Topics: Construction, Industry Headlines
Three-month NYC bridge construction starts this weekend, will cause major traffic
This weekend, a three-month construction project is set to begin on the Alexander Hamilton Bridge that crosses the Harlem River between Manhattan and the Bronx. The bridge is a main artery for traffic coming from the Bronx and travelling to the George Washington Bridge (GWB). With at least one of four eastbound lanes closed at all times for the duration of the project, drivers can expect heavy traffic not only on this bridge but on alternate routes as well, according to NY1 News.
Topics: Construction, Industry Headlines
Construction industry improves with increase in new home building
New home construction is a booming business at the moment, and many different industries involved in the process are reaping the benefits. The Washington Post reports there is a growing demand for new houses, which has created many jobs and bolstered local economies. The most recent report from the Commerce Department shows new home development is up nearly 30 percent annually this year over last with an annual rate of more than 700,000 new homes being built.
Topics: Construction, Industry Headlines
L.A. high-rise construction set to begin soon after four-year delay
During the recession, many construction projects across the U.S. were canceled or put on hold, and one in downtown Los Angeles is getting back on track. Construction of a $125 million high-rise apartment building will start in September, according to Wood Partners, the developer in charge of the project. Planning for the 22-story building began back in 2006, but the project was snuffed out when the recession hit in 2008. Now, the Los Angeles Times reports the economic improvements have created a suitable environment for the project to be revived
Topics: Construction, Industry Headlines
Santa Clara County surprises San Francisco 49ers by pulling stadium construction funds
Santa Clara County officials shocked the city of Santa Clara and the San Francisco 49ers by announcing they would be pulling nearly $30 million out of the team's new football stadium, a move that's likely to trigger numerous lawsuits.
Topics: Construction, Industry Headlines
Cranes lifted the final steel beam for a new building at the World Trade Center, completing the initial phase of construction on the first new building at the site since the 9/11 attacks.
Topics: Construction, Industry Headlines
Contractors have been chosen for a large restoration project that will fix two aging bridges in the upstate New York area. The Albany Times-Union reports the $29 million project has gone to Lane Construction Corporation of Connecticut.
Topics: Construction, Industry Headlines
A new report from the U.S. Commerce Department shows new home construction declined in May, but permits for future projects could indicate a period of growth is right around the corner.
Topics: Construction, Industry Headlines