BreakingNews

June 15, 2017
                   
 
Market News

Hard bidding has slowed over the past month. Some of that is seasonal in nature but there is also an element of the reduced activity that is the result of owner's tapping the brakes. This does not appear to be a trend reversal as much as a response to additional caution on the part of lenders. Architects remain busy and expect that bidding activity will be higher than normal in the third quarter, when bidding typically slows.
 
In an encouraging bit of bi-partisan work, PA's legislature passed a public pension reform law that the governor signed earlier this week. The bill is an important step but the finished legislation trims only $1.4 billion from the pension outlay over the next 20 years. It does shift more of the risk of pension shortfall to pensioners instead of taxpayers but leaves unanswered the question of how to manage the $60 to $70 billion unfunded pension balance that exists. That means that school districts and the Commonwealth will continue to have pension costs drag against capital investment.

Project News  

Allegheny Health Network and Highmark made a significant project announcement on Monday regarding the expansion of their cancer institute at Allegheny General and the suburbs. The AGH facility is to be a 59,500 square foot expansion with significant related renovations to the hospital. The development of suburban centers is part of the overall healthcare trend to move treatment into the communities where patients live. AHN explained that these centers will be removed from the AHN system hospitals themselves, which will also receive renovations to upgrade cancer treatment facilities. Estimates of the capital spending for this cancer initiative are $150 million. Work is scheduled to start on the AGH facility by end of year. No architects or contractors have been engaged for the specific projects. 

In other hospital construction news, PJ Dick was chosen as construction manager for St. Clair Hospital's $80 million expansion. The Pittsburgh Parking Authority has apparently short-listed three development teams - Oxford/PJ Dick, Millcraft/Mosites and Davis/Mascaro - for its 1,000-car 9th & Penn garage replacement/mixed-use development.  General Services Administration is taking RFP's on the $150 million federal courthouse in Harrisburg. Nello Construction has started construction on the 19,000 square foot new #1 Cochran Audi in the Strip District.

TEDCO's Jim Frantz (4th from left) assists with the groundbreaking for the new chapel at Providence Point in Scott Township.

To keep up to date with the market check out  BuildingPittsburgh .  
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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


Specified Systems Inc. has been recognized by U.S. Glass magazine and Glass Magazine as one of the top glazing contractors in the country for 2016.  U.S. Glass named Specified Systems one of its "Top Contract Glaziers" for the fourth time since 2012 and Glass Magazine honored them as one of the "Top 50 Glaziers" for the seventh consecutive year.

Michael Baker International announced that Rick Robyak, P.E., has been promoted to senior vice president and office executive in the firm's Moon Township, office. Robyak began his career with Michael Baker as a project manager in the Princeton, New Jersey office. Most recently, he served as the Interim Pennsylvania Headquarters Regional Director, where he oversaw all operations and functions of the firm's Allentown, Fort Washington, Harrisburg, Middletown, Moon Township and Philadelphia offices.
Coming Events

CREW Pittsburgh/NAIOP Pittsburgh Clay Shoot, June 23

The 9th Annual CREW/NAIOP Sporting Clays Eventwill be held Friday, June 23 at Seven Springs Sporting Clays Complex. Email CREW Sponsorship Director Val Kamin or call 412-456-2528 for sponsorship opportunities. To register contact Alicia Smith or visit CREW Pittsburgh's website.
CREW logo NAIOP logo
Women's Rountable Luncheon, June 28

The Engineer's Society of Western PA and the Women's Transportation Seminar are sponsoring the Women's Rountable Luncheon at the Pittsburgh Engineers Building. The panel includes the chairs of three county commissions, Sandie Egley from Beaver County, Gina Cerilli from Westmoreland County and Leslie Osche from Butler County.  Click to learn more and 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:


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