Results from the
Pittsburgh Homebuilding Report for the first quarter of 2017 show that new residential construction continues to grow at a decent pace in the six-county Pittsburgh market. Permits for traditional single-family detached homes (SFD) grew 4.7% year-over-year, while the pace of permits for townhouses was a bit faster. Single-family homes of all types increased by 8.6% over 2016. Because of a timing anomaly in 2016 (no apartment starts in the first quarter), the growth in apartment construction is exaggerating the increase in construction of total units in Pittsburgh. Housing starts jumped 105% year-over-year. While the anomaly skews the comparison, it's worth noting that the 1,216 units started in Jan-March 2017 is the highest total since before the 2008 recession.
First-quarter research on commercial/non-residential activity found that construction had increased slightly to $790 million during Jan-March.
Housing starts grew in all categories in the first quarter compared to the same period in 2016. Source: Pittsburgh Homebuilding Report.
The pipeline of multi-family projects has declined but two more significant projects are getting underway. The $30 million Eighth & Penn Apartments being developed by Trek/Q Development and the $40 million, 274-unit Village at Cranberry Woods II being developed by GMH Capital Partners. See who's building them at BuildingPittsburgh.
Millcraft is taking bids from Mascaro, Massaro, Mosites, Nello, PJ Dick, and Rycon on the $35 million development anchored by the new Moxy hotel at the Saks Fifth Avenue site. Jendoco was awarded a $4 milllion contract at Franciscan University. UPMC short-listed PJ Dick/Austin, Turner and Whiting Turner for the new $111 million patient tower at UPMC Hamot in Erie.
Double-check what else is going on in the industry on the dates you have in mind. Or check out what events you might want to attend. Interested in posting events? Email us for instructions.
Anthony Burgess and Katrina Bowers have been named associates at Babst Calland.
NAIOP Pittsburgh/SMPS Joint Meeting, May 17
NAIOP Pittsburgh and SMPS Pittsburgh are presenting Building Transportation Systems at the Rivers Club on May 17, from 11:30 AM to 1:30 PM. Go to NAIOP Pittsburgh's website to register or call 412-928-8303 for more information.
WPANECA 3rd Annual Industry Evening, June 1
The Western PA Chapter of National Electrical Contractors Association is presenting Robert O'Neill, one of the country's most highly decorated Navy SEAL combat veterans at its 3rd Annual Industry Evening & Keynote Event. This year's event will be held on June 1st. Contact Cody Phillips for more information.
Tall Timber Group is the publisher of BreakingGround and DEVELOPINGPittsburgh magazines and the Pittsburgh Homebuilding Report, and is a consultant for contractors and designers serving the construction and real estate market. For more information about our services, contact Jeff Burd or call:
Tall Timber Group 506B McKnight Park Dr. Pittsburgh, Pennsylvania 15237 412-366-1857