construction

Arizona’s Unemployment Rate Drops

Submitted by Janet_Perez on Thu, 05/20/2010 - 11:54am

The state’s unemployment rate ticked slightly lower in April, dropping to 9.5 percent from 9.6 percent in March.

The Arizona Department of Commerce reports today that of the state’s 11 major job sectors, nine posted employment gains. Overall, the economy added 19,500 non-farm jobs last month, the largest gain since April 2005.

Economic Reports: Arizona Unemployment Rises; Valley Home Prices Stabilizing

Submitted by Janet_Perez on Thu, 03/25/2010 - 4:25pm

Unemployment Rises in ArizonaDespite a modest increase in jobs in February, the state’s unemployment rate rose three-tenths of a percent to 9.5 percent.

According to the Arizona Department of Commerce’s monthly employment report released today, the state’s non-farm work force added 19,900 jobs in February, an increase of eight-tenths of a percent. The number of jobs created in February was about half of what the economy generated in December 2007, before the recession started. Still, the increase this February was a significant improvement over the 5,100 jobs lost during the same month last year.

Among the sectors creating jobs in February were: education (+10,400); government (+9,300); leisure and hospitality (+5,700); manufacturing (+1,300); and construction (+1,300).

Stimulated Construction

Submitted by Allie_Bell on Fri, 01/22/2010 - 9:17pm

Anyone who says things don't look bleak out there hasn't looked outside their window in the past few days. But as they say — "when it rains it pours" — and Arizona has not been the exception, it's been the definition.

The Associated General Contractors of America recently put out a 2010 construction outlook forecast that stated nearly 9 in 10 contractors say there will be no recovery in 2010. Further outlook doom and gloom within the forecast included:

Sustainable New Code

Submitted by Allie_Bell on Fri, 01/08/2010 - 3:16pm

Sustainable CodeWhen I was younger I used to think of codes as having to do with the CIA, or being a super spy. It was fun to try to work on the various combinations of letters and symbols to see if I could create and or "crack" a friend's code. Then I grew up... Now, I'm not saying that codes are a bad thing, they are just not as much fun as I remember them being. There is a lot more paperwork involved, but at least the ending is aimed at the same goal of making things "better" in one sense or another.

While going through various construction industry news, I came across an article on Reed Construction Data's Web site by Wayne Engebretson. The article talks about the International Green Construction Code (IGCC)'s draft to be the first International Code (I-code) to address sustainable design and green construction practices for all commercial building types. The code is scheduled for release in March 2010.

Construction Material Prices Bottom Out 4Q09

Submitted by Allie_Bell on Wed, 12/23/2009 - 4:40pm

Construction Prices 4Q09National average construction costs experienced a decline for the fourth consecutive quarter, according to Rider Levett Bucknall's cost data for 4Q09. 

 

Compared to the considerable drop that occurred over 1Q09, the diminished rate of decline experienced over the most recent two quarters suggests that builders are unlikely to make additional deep cuts to their already tightened margins — even as workload projections remain pessimistic.

 

According to RBL's quarterly report forecast for 2010, they expect construction inflation to be essentially flat for as long as perceptions about the amount of construction work available remain bleak and inflation in the broader economy remains subdued. 

"Constructors will be eagerly monitoring for a sustained uptick in design firms' billings as a potential herald of recovery in construction volumes," RBL states.

Arizona’s Unemployment Rate Drops To 8.9%

Submitted by Janet_Perez on Thu, 12/17/2009 - 11:14am

Arizona UnemploymentArizona’s unemployment rate fell 0.4 percent in November to 8.9 percent. The unemployment rate in October stood at 9.3 percent. The U.S. unemployment rate stands at 10 percent.

The Arizona Department of Commerce’s Arizona Workforce Employment Report released today finds that the state’s economy generated an over‐the‐month increase in jobs for November of 12,800, with 11,100 of those jobs coming from the private sector. The increase in jobs was less than expected, but still better than the 19,100 jobs lost in November 2008.

Colorado River Bridge

Submitted by Allie_Bell on Wed, 08/12/2009 - 2:08pm
Hoover Dam Bypass Project
Rather than using the traditional U.S. 93 route to get from Arizona to Nevada, travelers will cross using the Colorado River Bridge, which will be called the Mike O'Callaghan-Pat Tillman Memorial Bridge upon completion. This bridge is scheduled to open in the late fall of 2010. But don't worry — those who still want to visit the Hoover Dam will use the old route, while those passing through will be required to use the Colorado River Bridge.

But how did this project come to be you ask? The Federal Highway Administration (FHWA) received federal and state (NV & AZ) funding to complete the design and construction of the Hoover Dam Bypass Project. There were several reasons for developing an alternative route including:

 

• The current two-lane highway across the dam, U.S. 93, can no longer adequately handle the 14,000 vehicles and trucks crossing per day, double the volume of 15 years ago.

• This section of highway is narrow, winding and steep - inadequate and unsafe for the volume of traffic.

• There is no other route in the western states that can efficiently accommodate this traffic.

• The current highway conditions pose a potentially dangerous situation to Hoover Dam visitors and the dam facilities.

Many don't realize the impact U.S. 93 has for both states, nor how critical the bypass project is to the states' economies. U.S. 93 is on the North American Free Trade Agreement (NAFTA) route between Mexico and Canada, and it is also the major commercial route between the states of Arizona, Nevada, and Utah. With delays and potential closures (from accidents) on this section of highway, industry around the country suffers from loss of time and money in transporting goods and services.

For more information, and to follow the construction timetable on this important project, visit http://www.hooverdambypass.org.

CONSTRUCTION INFO:

The Hoover Dam Bypass Project is a 3.5-mile corridor beginning at approximately milepost 2.2 in Clark County, Nevada and crossing the Colorado River approximately 1,500 feet downstream of the Hoover Dam, then terminating in Mohave County, Arizona near milepost 1.7 on U.S. 93.

The construction contract for the Colorado River Bridge, was awarded to the joint venture partnership of Obayashi Corporation and PSM Construction USA, Inc., in October of 2004 for $114M. Construction began in early 2005 and is expected to be completed in 2010. When completed, the 2,000 foot-long Colorado River Bridge will span the Black Canyon (about 1,600 feet south of the Hoover Dam), connecting the Arizona and Nevada Approach highways nearly 900-feet above the Colorado River.  The construction requirements and challenges are as difficult as any in the world. As of November 2008, the joint venture contractor has completed over $78M worth of construction. A number of the arch segments have been cast using a temporary form traveler system. The contractor has established a new cableway system developed specifically for this project and site. The arch is now almost 40% complete, and on track for closure in the third quarter of 2009. Upcoming work will include continued of the cast-in-place concrete arch over the Colorado River. Completion of the arch requires construction of temporary stay towers which will support the arch until it is closed in the middle. This is scheduled for September 2009.

For more information, visit Construction Activities on the Hoover Dam Bypass Project Web site at http://www.hooverdambypass.org/Construction_Activities.htm

When I was younger, my family travelled every summer to Utah via the Nevada route. I remember stopping and visiting the Hoover Dam during these 13-hour car trips, but the scene I recall has changed since then.

Rather than using the traditional U.S. 93 route to get from Arizona to Nevada, travelers will cross using the Colorado River Bridge, which will be called the Mike O'Callaghan-Pat Tillman Memorial Bridge upon completion. This bridge is scheduled to open in the late fall of 2010. But don't worry — those who still want to visit the Hoover Dam will use the old route, while those passing through will be required to use the Colorado River Bridge.

According to the Hoover Dam Bypass Project Web site, the Colorado River Bridge is the central portion of the Hoover Dam Bypass Project. Construction on the 2,000-foot long bridge began in late January 2005. When completed, the bridge will span the Black Canyon (about 1,600 feet south of the Hoover Dam), connecting the Arizona and Nevada approach highways 900-feet above the Colorado River. 

Editor's Letter — What's Next?

 

AZRE Editor's Letter July/August 2009

There has been a lot of talk about what will happen over the next few quarters with commercial real estate. The main consensus is that there won’t be a lot built over the next two to three years.

AZ Unemployment Jumps

Submitted by Janet_Perez on Thu, 06/18/2009 - 10:51am

UnemploymentThe Arizona Department of Commerce has just released the May unemployment figures and -- no surprise -- the number of residents out of work has jumped to 8.2 percent.

In April, the unemployment rate unexpectedly retreated by one-tenth of a percent to 7.7 percent. The drop was seen as an aberration and not a sign that the state's economy was improving, and indeed, May's figures bear out that assessment. In May, the private sector shed 15,800 jobs compared to April. Month-over-month, the government lost 5,500 jobs in May.

Top People to Know in Commercial Real Estate

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