$1B medical project planned for Ind. | P3 is spurring development in Calif. city | Tenn. hospital to get $412M research facility
February 20, 2018
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$1B medical project planned for Ind.
A $1 billion medical project could be coming to Carmel, Ind. A letter sent to homeowners suggests that plans call for a 40-acre development with parking garages, an inpatient hospital and supporting medical buildings.
The Indianapolis Star (tiered subscription model) (2/19) 
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Infrastructure & Project Focus
P3 is spurring development in Calif. city
A public-private partnership will build a new city hall in Long Beach, Calif. Private developers are constructing $520 million worth of public projects in exchange for land and the right to develop stores, apartments and possibly a hotel.
Los Angeles Times (tiered subscription model) (2/17) 
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Tenn. hospital to get $412M research facility
A $412 million medical research center planned for St. Jude Children's Research Hospital in Memphis, Tenn., is part of a $1 billion expansion effort. Construction is expected to begin in the spring and employ 5,000 workers.
The Commercial Appeal (Memphis, Tenn.) (free content) (2/19) 
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$225M Pa. Turnpike expansion to start soon
Construction is to begin this month on a project to widen seven miles of the Northeast Extension of the Pennsylvania Turnpike between the exits for Lansdale and Quakertown, with tolls funding the project's entire cost. The Pennsylvania Turnpike Commission will hold an open house Wednesday to educate the public on the $225 million project.
Bucks County Courier Times (Levittown, Pa.) (2/19) 
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Work to begin next year on Holland Tunnel repairs
Work to begin next year on Holland Tunnel repairs
(Andrew Burton/Getty Images)
The Port Authority of New York and New Jersey approved a $364 million project to repair the Holland Tunnel, with work to begin next year. The tunnel was damaged during Superstorm Sandy, and the project will improve the tunnel's resiliency.
The Jersey Journal (Jersey City, N.J.) (2/16) 
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R S Bonding among The Surety Elite
Merchants Bonding Company names R S Bonding Insurance Agency Inc among the elite Champions of contract surety. Demonstrating uncommon excellence for their contractor clients, Matt Dobyns & Randy Spohn are top professionals in the surety industry. Congratulations from The Common Sense Surety!
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Economic Update
Goldman expects increase in cost of servicing US debt
Goldman Sachs analysts expect the cost of servicing US debt will surge due to climbing bond yields and the expansion in borrowing amid a growing economy. "In the past, as the economy strengthens and the debt burden increases, Congress has responded by raising taxes and cutting spending," the analysts wrote, noting the opposite is now true.
Bloomberg (free registration) (2/19) 
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Innovation & Technology
Commentary: Construction site drones add to safety, efficiency
Using drones on construction sites can help managers "improve safety, project efficiency and data accuracy," writes Mike Danielak, director of client strategy and business development at Skyward. Drones help companies perform survey and design tasks for less cost and offer the "added bonus of gathering the data safely," he writes.
Construction Dive (2/14) 
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Policy Watch
Commentary: Gas tax no longer stable revenue source for infrastructure
The federal gas tax is no longer collecting enough revenue to fund infrastructure in the US, and the White House's infrastructure plan would allow for heavier reliance on tolling, Justin Fox writes. The federal gas tax has remained essentially the same since 1993, and inflation and better fuel mileage have caused revenue from the tax to decline, Fox writes.
Bloomberg (free registration) (2/15) 
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Association News
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AGC members receive a 20% discount on all ConsensusDocs subscriptions
ConsensusDocs contracts are endorsed by 40-plus design and construction industry associations representing designers, owners, contractors, subcontractors and sureties, including the AGC of America. Learn more.
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To conquer fear is the beginning of wisdom.
Bertrand Russell,
philosopher
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