Quarry Equipment Marketplace

JAN 2018

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Page 20 of 47

January 2018 QEM – Quarry Equipment Marketplace Page 21 Regards, Mark Kuhar, Editor Rock Products Magazine Mining Media International grew 27 percent with the help of a $235 million warehouse building in Staten Island, N.Y., and five Amazon distribution centers located in North Randall, Ohio ($177 million), Orlando ($132 million), Thornton, Colo. ($107 million), Portland, Ore. ($85 million), and Troutdale, Ore. ($64 million). Hotel construction in October strengthened 32 percent, with the boost coming from the start of a $170 million hotel in New York, the $148 million expansion of the Pala Casino Spa and Resort in Pala, Calif., and a $90 million renovation project at the Flamingo Hotel in Las Vegas. Residential Building Residential building in October receded 1 percent to $295.9 billion (annual rate), continuing to hover within the narrow range that's been reported for the past six months. Single-family housing held steady in October, continuing to stabilize after losing momentum in early summer. Multifamily housing dropped 3 percent in October, as there were four large multifamily projects valued each at $100 million or more that reached groundbreaking compared to seven such projects in September. The large October multifamily projects were a $445 million multifamily building in New York, a $150 million apartment complex in Newport Beach, Calif., the $138 million multifamily portion of the Rainier Square mixed-use development in Seattle and the $115 million River Landing apartment complex in Miami. Nonbuilding Construction Nonbuilding construction in October was $188.2 billion (annual rate), up 27 percent from the previous month. The public works categories as a group climbed 51 percent, with the boost coming from a 506 percent surge for the miscellaneous public works category that includes such diverse project types as pipelines, mass transit, and site work. The largest miscellaneous public works project entered as an October start was the $3.0 billion expansion to the Atlantic Sunrise natural gas pipeline in Pennsylvania and Virginia. Also entered as an October start was the $750 million Epic natural gas pipeline in Texas. Also boosting the miscellaneous public works category in October was the $825 million airport guideway and rail station project in Pearl Harbor, Hawaii, the $477 million Canarsie Tunnel rehabilitation project in New York, and a $444 million portion of California's high-speed rail project in the Bakersfield-Visalia area. If the miscellaneous public works category is excluded, the remaining public works categories as a group would have been down 9 percent in October, as the result of a 13 percent drop for highway and bridge construction as well as a 46 percent plunge for sewer construction. Despite the decline, highway and bridge construction in October did see the start of several noteworthy projects, including the $756 million Chesapeake Bay Bridge Parallel Tunnel in Virginia Beach, Va., and a $259 million highway construction project in Houston. On the plus side for public works construction in October were gains for river/harbor development, up 35 percent; and water supply construction, up 21 percent. The elec- tric power and gas plant category in October dropped 55 percent, retreating sharply after a moderate 10 percent gain in September. Large power plant projects that reached the construction start stage in October were led by two wind farms in Texas, valued at $330 million and $250 million respectively. Year-to-Date For the first 10 months of 2017, total construction starts on an unadjusted basis were $631.2 billion, up 1 percent from the same period a year ago. The year-to-date gain for total construction was restrained by a 38 percent drop for the electric utility/gas plant category. If the electric utility/gas plant category is excluded, total construction starts during the first 10 months of 2017 would be up 4 percent relative to the same period a year ago. The 1 percent increase for total construction starts was due to mixed behavior by the three major construction sectors. • Nonresidential building increased 8 percent year- to-date, with institutional building up 18 percent while commercial building slipped 7 percent. The manufacturing building category was up 31 percent so far in 2017, aided by this year's rebound for petrochemical plant starts. • Residential building grew 1 percent year-to- date, with an 8 percent gain for single family housing slightly outweighing a 13 percent drop for multifamily housing. • Nonbuilding construction year-to-date fell 7 percent, the result of a 5 percent rise for public works and a 38 percent drop for electric utilities/gas plants. By region, total construction starts during the January- October period of 2017 revealed this pattern compared to a year ago – the Northeast, up 23 percent; the South Atlantic, up 3 percent; the West, up 2 percent; the South Central, down 5 percent; and the Midwest, down 12 percent. The 5 percent decline in the South Central reflected in part the comparison to last year that included $6.2 billion for two liquefied natural gas terminals, while the 12 percent decline in the Midwest reflected in part the comparison to last year that included the $3.8 billion Dakota Access pipeline and Chicago's $900 million Wanda Vista tower.

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