SmithGroup one of the nation’s leading integrated design firms, has tapped its broad network of 1,300 interdisciplinary design professionals to offer its predictions for the trends and challenges that the design industry will face in the decade ahead. A firmwide discussion has yielded major disruptors that are likely to impact design of health care environments in the 2020s.
Nationally, construction costs have increased by more than 100% over the last 20 years — a trend that will likely continue — introducing a new layer of complexity to development, capital improvement investments, and landlord tenant lease negotiations.
Posted: September 12, 2018 | Cost Trends
Construction spending is up since the last issue of Design Cost Data and grew 6% over last year – the hot economy is probably fueling the increases. Home prices are moving upward but with some signs of price resistance. Commercial construction is still doing well across the board with two small sectors in double-digit growth. Although we are guarded in our optimism, we continue to experience good times.
Posted: July 18, 2018 | Cost Trends
Construction, while still strong, is not “booming” like before. Still growing at a clip of 4–5% over last year, we are seeing regional declines in the center of the country with continued growth on the coasts.
Posted: May 1, 2018 | Cost Trends
Construction remains relatively strong, but compared to the last few years it’s not booming. Currently, it’s at a 4-5% increase over last year. Home prices are still moving upward because of short supply; not demand and this part of the equation needs to be watched. There is still some chatter of a looming sub-prime problem, let’s hope it’s unfounded.