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November 30, 2012News for contractors and the construction industry

  Top Story 
  • Modified contract allows NYC's Hudson Yards to break ground earlier
    New York's Metropolitan Transportation Authority has approved a modified contract with Related Cos., developer of the Hudson Yards project. The revisions state that the developer can begin work on the foundation of the tower that has Coach as its anchor tenant but in return, Related had to commit to June 1, 2013, as the closing date for the whole project. The article provides other details regarding the contract revisions. GlobeSt.com (11/29) LinkedInFacebookTwitterEmail this Story
  Infrastructure & Project Focus 
  • China's 220-story Sky City project prompts safety concerns
    The proposed 220-story Sky City to be built in China would be taller than the Burj Khalifa but take only nine months to build, according to Broad Sustainable Building. However, critics worry about subsidence and safety. The skyscraper would have 4,000 apartments, a hotel, offices, school, hospital, stores and restaurants. "With so many people living and working in the building, there will be risks everywhere," said Li Xun of the China Academy of Urban Planning and Design. However, the developer said its "design team is professional and has taken all safety factors into consideration." China Daily (Beijing) (11/29) LinkedInFacebookTwitterEmail this Story
  Economic Update 
  • Construction stats turn more pessimistic
    Things aren't looking great. AGC noted that 28 states and the District of Columbia lost construction jobs between October 2011 and 2012. The number of stalled construction projects in New York City is up 17% since February, according to the New York Building Congress. And, investment in nonresidential construction was down 4.4% in the third quarter, according to the first Marcum Commercial Construction Index put out by Marcum, an accounting and advisory firm. "Despite 13 consecutive quarters of economic growth, nonresidential construction has not been among the sectors experiencing meaningful recovery," noted analyst Anirban Basu. GlobeSt.com (11/30), Real Estate Weekly (New York) (11/29), Newsday (Long Island, N.Y.) (subscription required) (11/30) LinkedInFacebookTwitterEmail this Story
  • Construction sector sees labor shortfall as demand rises
    There is a dearth of construction workers in several states, including Florida, Texas, Iowa and Arizona, despite the industry losing 2.2 million employees between 2007 and 2011. Increasing demand for labor and a lack of workers have surprised builders, so they are coping partly by paying more overtime, said Ken Simonson, chief economist of Associated General Contractors of America. USA Today (11/28) LinkedInFacebookTwitterEmail this Story
  Innovation & Green Building 
  • "Universal town" in India becomes green-building "test bed"
    Auroville, a "universal town" designed by French architect Roger Anger, is an "experimental" city in India that holds 2,000 residents. "Green building techniques -- from the development of specifically curved housing, which offers strength, durability and heat reduction to the use of handmade bricks from locally sourced mud -- make the township a hotbed for green thinking and learning," writes Emily D'Alterio. DesignBuildSource.com.au (Australia) (11/29) LinkedInFacebookTwitterEmail this Story
  • Other News
  Policy Watch 
  • Shuster will consider fuel tax hike, P3s, tolling for highway
    Rep. Bill Shuster, R-Pa., who will be chairman of the House Transportation and Infrastructure Committee in January, said Congress should consider all options to fund road projects -- including a gasoline tax increase, vehicle mileage tax, public-private partnerships and tolling. "I’m not wedded to any options," Shuster said. "We need to explore them all." Bloomberg (11/28), DC Velocity online (11/28) LinkedInFacebookTwitterEmail this Story
  Association News 
  • ConsensusDocs releases updated federal subcontract to help construction firms perform federal work
    The newly revised ConsensusDocs standard subcontract (ConsensusDocs 752 for federal work) will make it easier for general contractors and subcontractors to perform federal work. The updated ConsensusDocs 752 Federal Subcontract Agreement is designed to address recent changes in federal contracting such as requirements for certifying small business entities and new reporting of executive compensation requirements. Visit consensusdocs.org for more information. LinkedInFacebookTwitterEmail this Story
  • Risk Management Best Practices for Profitable Projects webinar on Dec. 4 at 2 p.m.
    Taking proactive steps to mitigate risk helps keep you profitable. According to a report issued by McGraw Hill Construction analyzing 5,000 projects, effective risk management techniques have changed dramatically in recent times. Attend this webinar to learn common patterns on effective risk management. This analysis will break down public and private risk and the most effective means to mitigate these risks, including payment risk, owner satisfaction and technical requirements. Learn about common causes for disputes and how to deal with them cost effectively -- and without litigation. Learn more and register. LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
The robbed that smiles, steals something from the thief."
--William Shakespeare,
British playwright


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