February 7, 2018
Market News

There were two great reports on the US economy over the past week or so. First, the first estimate of GDP growth in the fourth quarter showed a 2.6% gain. That was slightly less than expected but is likely to be revised upward as the second and third estimates are refined. The positive surprise was January's employment gains. The Bureau of Labor Statistics reported on Ground Hog Day that employers added 200,000 jobs last month. Economists had tempered forecasts, noting the tight labor markets and short time for companies to react to the new tax environment. Monthly job numbers tend to fluctuate and aren't particularly useful measures of the economy unless put in the context of the trend; however, this late into an economic expansion (especially with 4.1% unemployment), news of 200,000 new jobs is good news.

The Murdoch Building. Rendering courtesy CBRE

Project News  

Bidding activity has increased significantly in recent weeks. Most contractors have full bid boards. Among the highlights are the $50 million Southern Beltway Section 55C1-2 and the $43 million City's Edge Apartments in the Lower Hill. Proposals for the City's Edge are being taken from PJ Dick and Mosites. The $75 million Altoona High School project should be released for bid within a few weeks.

Core Realty selected Dick Building Co. for the $22 million conversion of Chatham Center Apartments. Dick Building also started construction on a new 42,000 square foot Rahal Land Rover/Jaguar dealership in Washington PA. Mascaro Construction started work on the 95,000 square foot Murdoch Building on Forbes Avenue in Oakland. JD & D Enterprises broke ground on a 138,000 square foot build-to-suit addition for COE Distributing in Franklin Township, north of Uniontown.

To keep up to date with the market check out  BuildingPittsburgh .  
Looking to see what's happening?

If you're planning an event for the construction or commercial real estate industries, check out the Industry Events Calendar at the Tall Timber Group website. (

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.  
People News

Joseph M. Johnson was hired as vice president, Project Management Services group for Penn Cove Group Real Estate.

IKM inc. announced the promotion of Tami Greene, Matt Hansen, John Keelan, and Jon Lusin to principal from associate.
Coming Events

MBA Evening of Excellence, February 22
The MBA Building Excellence Awards winners will be announced at the Evening of Excellence at Heinz Field.  Click to sponsor or to register..
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NAWIC Pittsburgh Industry Update, February 20
National Association of Women in Construction, Pittsburgh Chapter #161 will hold an industry update by Tall Timber Group President Jeff Burd on Feb. 20, 2018 at Roland's in the Strip. Register at NAWIC Pittsburgh's website.
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NAIOP Pittsburgh Awards Banquet, March 1

NAIOP Pittsburgh will hold its 25th annual awards banquet on March 1 at the David L. Lawrence Convention Center, beginning at 5:30 PM. Click for more information about sponsorships.

MBA Young Constructors Kickoff, March 14

The MBA YC will host its kickoff meeting March 14 at Olive or Twist from 5:00 to 8:00 PM.  Go to the MBA's website for more information or to register.

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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


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