industry insights

Stay updated with BUILT Strategies’ latest news, media appearances, and note worthy mentions.

2024 Construction Outlook a Mixed Bag, per Report

Labor has been consistently cited as a top challenge for general contractors, an issue that long predates the Covid-19 pandemic.

In December, the construction industry added 17,000 net jobs, part of what was a stronger-than-expected jobs report released late last week by the U.S. Bureau of Labor Statistics. Between December 2022 and December 2023, industry employment grew 2.5%, to 197,000 new jobs, according to an analysis of BLS data by industry trade group the Associated Builders and Contractors.

Gainesville business builds homes out of shipping containers

Welding to Recycle, a Gainesville-based business founded by JohnCook, repurposes shipping containers into sustainable, durable homes and offices. Started with sustainability in mind, Cook’s business aims to extend the lifecycle of containers that would otherwise end up in landfills. Despite challenges with supply chain shortages during the pandemic, the company continues to design and build 10 to 13 container homes per year. Alachua County Commissioner Mary Alford is discussing with the company the possibility of using these homes for affordable housing to aid people transitioning out of homelessness.

More than $1 trillion in CRE debt maturities loom. These metros have the most exposure.

Commercial real estate (CRE) faces a looming $1.5 trillion debt due by 2025 amid a challenging economic landscape with high interest rates and decreased leasing activity post-Covid. Key markets, including New York, Los Angeles, Miami, San Francisco, and Las Vegas, carry the most maturing Commercial MortgageBacked Securities (CMBS) debt, triggering concerns about refinancing and property sales. Distressed loans, delinquencies, and landlords walking away from underperforming properties compound the issue.

Town architect on biggest lessons learned from Baldwin Park’s success 20 years later

Mark Jones, principal at LRK, reflects on the success of BaldwinPark community in Orlando, where his firm served as town architect. The community’s vision was to promote interaction while maintaining privacy, leading to thoughtful planning such as positioning of houses and porches. Recent home sales above $2.5million underscore its success. Jones highlights the importance of traditional neighborhood developments and their sustainability for future planning.

Nonresidential Construction Spending Decreases in May, First Time in Nearly a Year, Says ABC

Nonresidential construction spending fell 0.2% in May, marking the end of 11 months of continuous growth. While a 17% growth has been observed over the period, the majority of the increase is due to manufacturing-related construction. Despite these figures, contractors remain optimistic as per ABC’s ConstructionConfidence Index,” said Anirban Basu, Associated Builders andContractors’ chief economist

Exclusive: Orlando contractor RL Burns' Bob Burns to hand over company to daughter Jessica Burns

Jessica Burns, daughter of founder Bob Burns, has taken the reins as president of the active Orlando-based contractor, R L Burns Inc.As her father transitions to retirement, Burns plans to lead the company into expanding into residential construction and continuing its significant role in the community as a successfulBlack-owned business based in the historically segregated Paramore neighborhood