BreakingNews

December 21, 2017
                   
 
Market News

Yesterday's passage of the Tax Cuts and Jobs Act should have a positive impact on construction. The lower tax rates for corporations and individuals should encourage additional capital spending and investment, and several significant provisions benefit commercial real estate development. The impact on job creation may be less noticeable, especially in an environment where finding qualified workers is increasingly difficult.

In other macroeconomic news, the final revision to the 3rd quarter GDP was released Thursday morning. At 3.2% over the 2nd quarter, GDP was 1 point below the 3.3% forecast but still showed continued strength from consumers and improvement from business investment.

The MBA's Eric Starkowicz (left) and MBA YC Chair Adam Ramsey (right) from Wyatt present A $5,000 donation to Austin's Playroom to Drew Parish.

Project News  

Allegheny Health Network announced the first location for its "micro" hospitals, on Route 30 in Hempfield Township outside Greensburg. The facility's details were not announced but similar hospitals built in other parts of the company have been in the 40,000 sq. ft. range. AHN also narrowed the CM candidates for its $150 million Wexford hospital down to Turner and Massaro/Gilbane. 

Another project was reported in the strong senior housing market. Tapestry Senior Housing Management announced it was spending $55 million to convert the form Airport Embassy Suites into 220 units of senior assisted living and memory care.

Rycon Construction will start work on the 96-room Comfort Inn, part of the $17.5 million development of the former Workingman's Bank and ARC House on East Ohio St. A. Martini & Co. was selected by Penn Cove Group Capital for the $6-8 million renovation of the Oxford Athletic Club in Wexford.

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. (www.talltimbergroup.com

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

The Pennsylvania Builders Exchange announced that Del Walker will celebrate his 25th anniversary as executive director on December 31. Walker joined the PBX two years earlier.

Sheena Hoover joined Hayes Design Group Architects as Marketing Manager.  Hoover has over 10 years of experience in marketing and business development in the A/E/C industry.  She is a graduate of Clarion University of Pennsylvania and is president elect of the Pittsburgh Chapter of the Society for Marketing Professional Services (SMPS).

Herbert, Rowland & Grubic, Inc. (HRG) announced that Mark Smith has joined its water and wastewater team in Cranberry Township.  Smith will serve as a project manager, overseeing the planning, design and construction of water and wastewater infrastructure throughout Western PA. Smith joins HRG after more than 20 years working for Pennsylvania American Water. 
christmas_moustache.jpg
Happy Holidays from the Tall Timber Group!
Coming Events

MBA Evening of Excellence, February 22, 2018
The MBA Building Excellence Awards winners will be announced at the Evening of Excellence at Heinz Field.  Click to sponsor or to register..
mba logo plain
ASA Annual Networking Event, February 8, 2018
The American Subcontractors Association of Western PA will hold its annual networking evening at Rivers Casino on Feb. 8, 2018. Click to learn more about sponsorships or to register.
 

Join Our Mailing List 

 

Not regularly getting BreakingNews?

Email jburd@talltimbergroup.com to be added to the list.

 

 

 

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

www.talltimbergroup.com

 


Gateway ad