Quarry Equipment Marketplace

MAR 2018

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Page 20 of 47

March 2018 QEM – Quarry Equipment Marketplace Page 21 Page 21 QEM – Quarry Equipment Marketplace March 2018 Regards, Mark Kuhar, Editor Rock Products Magazine Mining Media International The other institutional project types all showed reduced activity to varying degrees, relative to December. Educational facilities, the largest nonresidential building category by dollar amount, slipped 1 percent. Large educational facilities projects that reached groundbreaking in January were a $210 million biomedical innovation building for Stanford University in Stanford, Calif., a $150 million expansion to the Denver Art Museum in Denver and a $100 million exhibition space for the Space Shuttle Endeavor at the California Science Center in Los Angeles. Large high school projects that reached groundbreaking in January were in Crofton, Md. ($96 million), Tyler, Texas ($95 million) and Boiling Springs, S.C. ($95 million), among other localities. Healthcare facilities retreated 10 percent in January, although the latest month did include the start of several large hospital projects, such as the $254 million Hubbard Center for Children Medical Center in Omaha, Neb., the $120 million replacement for the Memorial Hospital Complex in York, Pa., and a $109 million medical center renovation in Canandaigua, N.Y. The remaining institutional categories showed these January declines – transportation terminals, down 6 percent; religious buildings, down 23 percent; and public buildings (courthouses and detention facilities), down 25 percent. The manufacturing plant category strengthened in January, climbing 99 percent after a weak December. Major manufacturing projects that were entered as January starts were a $400 million portion of an upgrade underway at a semiconductor plant in Chandler, Ariz., a $200 million aerodynamic testing center for the Ford Motor Co. in Allen Park, Mich., a $110 million food processing plant in Longmont, Colo., and a $105 million expansion to a food processing plant in Jack, Ala. The commercial categories as a group fell 15 percent in January. New office construction starts retreated 31 percent after a sharp 44 percent jump in December which included two large Facebook data centers, located in Sandston, Va. ($750 million) and Prineville, Ore. ($400 million). The largest office projects that reached groundbreaking in January were a $350 million Facebook data center in New Albany, Ohio, a $160 million office building in Washington, D.C., and the $140 million renovation to the Portland Building in Portland, Ore. Hotel construction dropped 13 percent after a 4 percent gain in December, although the latest month did include the start of a $300 million hotel in New York. The remaining commercial categories witnessed this performance relative to December – stores, down 2 percent; warehouses, unchanged; and commercial garages, up 4 percent. Residential building Residential building in January was $331.3 billion (annual rate), up 7 percent. Multifamily housing jumped 39 percent, showing renewed strength after the loss of momentum that took place during the closing months of 2017. During January, there were 11 multifamily projects valued at $100 million or more that reached groundbreaking, compared to four such projects in December. The largest January multifamily projects were the $260 million multifamily portion of a $289 million mixed-use complex in San Jose, Calif., a $250 million multifamily high-rise in Jersey City, N.J., and a $175 million multifamily high-rise in Houston. Single-family housing in January receded 3 percent, settling back after the modest gains reported during the previous five months. In January, single-family housing showed this pattern by major region – the West, down 11 percent; the South Central, down 2 percent; the South Atlantic, down 1 percent; the Midwest, unchanged; and the Northeast, up 9 percent. The 7 percent decline for total construction starts on an unadjusted basis for January 2018 relative to January 2017 was the result of a mixed performance by major sector. Nonbuilding construction increased 4 percent, with public works up 6 percent while electric utilities/gas plants dropped 6 percent. Nonresidential building fell 20 percent from a very strong January 2017 which included such unusually large construction starts as the $3.6 billion Central Terminal Building replacement project at LaGuardia Airport in New York, the $600 million McClellan Business Park data center in McClellan Calif., and a $477 million terminal project at San Francisco International Airport. Compared to the same month a year ago, the institutional and commercial building segments of nonresidential building were down 23 percent and 21 percent respectively, while manufacturing plant starts advanced 18 percent. Residential building rose 1 percent from the same month a year ago, with single-family housing up 3 percent while multifamily housing slipped 2 percent. Useful perspective is made possible by looking at 12-month moving totals, in this case the 12 months ending January 2018 versus the 12 months ending January 2017, which reveal total construction starts advancing 2 percent. By major sector, nonbuilding construction grew 2 percent, with public works up 12 percent and electric utilities/gas plants down 29 percent. Nonresidential building increased 3 percent, with institutional building up 7 percent, commercial building down 5 percent, while manufacturing plant starts climbed 26 percent. Residential building grew 2 percent, with single family housing up 8 percent while multifamily housing fell 12 percent.

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