More Good News on Economic Front
May 25, 2017
Demand for design services at the nation’s architecture firms continued to grow in April, although at a slower pace than in March.
The Architecture Billings Index (ABI) showed an increase in design revenue for April, marking its third consecutive month of growth. However, while April’s reading came in at 50.9 – any score above 50 indicates growth – it failed to measure up to March’s score of 54.3.
The ABI reflects the approximate nine- to 12-month lead time between architecture billings and construction spending.
The Institutional sector saw its fourth straight month of growth with a score of 54.0, and the Commercial/Industrial sector also advanced, with a score of 52.4 – its first sign of growth since January. The Multifamily category came in just under 50, at 49.9, and the Mixed-Practice segment posted a reading of 53.4.
The sub-index that tracks project inquiries came in at 60.2, a notch above March’s 59.8, and design contracts also advanced to 53.2 in April, from 52.3 in March. Business conditions improved at firms in all regions of the country in April, marking only the second time in the last 12 months that this has occurred.
The overall news is good, according to AIA Chief Economist Kermit Baker, Hon. AIA, PhD., who said, “New project work coming into architecture firms has seen exceptionally strong growth so far this year. In fact, new project activity has pushed up project backlogs at architecture firms to their highest level since the design market began its recovery earlier this decade.”
Graham Overcomes Tall Challenge in Columbus, Ohio
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While there are often tall challenges in historic window replication, few are taller than the 13 windows Graham Architectural Products encountered during a restoration of the former Barrett School, Columbus, Ohio.
While they represented a small portion of Graham’s 261-window …
Cable Mills Receives Prestigious Award From Preservation Massachusetts
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Cable Mills Apartments, the Graham project that according to one reporter, “turn(ed) a decrepit hulk of a mill into 61 luxury housing units,” was honored last week by Preservation Massachusetts.
The transformation was so remarkable, Preservation Massachusetts recognized Cable Mills …
Dodge Momentum Index Incurs Dip In April
May 8, 2017
An off month in the Institutional sector led to dip in the Dodge Momentum Index for April.
The Momentum Index is a monthly measure of the initial report for nonresidential building projects in planning. These reports have been shown to …
Graham Adds Three, Promotes One
May 2, 2017
Graham Architectural Products (GAP) announces a promotion and two new hires, and Graham’s Curtain Wall Solutions division announces another hiring.
Derek Ober has been promoted to project manager at GAP, while Taylor Graby has been hired as assistant project manager …