market focus construction activity in the higher-education … · 2015. 11. 11. · architect:...

PROJECT: New York City College of Technology New Academic BuildingARCHITECT: Perkins EastmanLOCATION: Brooklyn, NYN PROJECT: University of Buffalo School of Medicine and Biomedical SciencesARCHITECTS: HOK, Foit-Albert AssociatesLOCATION: Buffalo, NY

PROJECT: University of Maryland Health Sciences Facility IIIARCHITECTS: HOK, Design Collective, Jacobs, Melville Thomas ArchitectsLOCATION: Baltimore

PROJECT: Jackson Laboratory for Genomic MedicineARCHITECTS: Tsoi/Kobus & Associates, CenterbrookLOCATION: Farmington, CT

PROJECT: 20 Washington Road, Princeton UniversityARCHITECT: KPMB ArchitectsLOCATION: Princeton, NJ

$155 MILLION

$191 MILLION

ARCHITECTURAL RECORD NOVEMBER 2014

Construction activity in the higher-education sector is beginning to slowly rebound as the stock market improves and college and university endowments, along with gifts from alumni and other benefactors, grow.

Higher-Education Starts by RegionIn addition to U.S. total and 2014 forecast figures

perspective stats

0020100 03 0504 06 0807 1 1 12 13 141009

$MILLION

8

16

4

12

NORTHEAST MIDWEST SOUTH WEST TOTAL U.S. FORECAST

McGraw Hill Dodge Analytics tracks projects from predesign through construction to capture hard construction costs, square footage, and other key statistical information.

1 Perkins+Will

2 ZGF Architects

3 Jacobs

4 Ayers Saint Gross

5 Goody Clancy

Top 5 Design FirmsRanked by higher-education construction starts 1/2011 through 8/2014

Top 5 Projects The Dodge Index for Higher-Education Construction 8/2013–8/2014

The Dodge Momentum Index is a leading indicator of construction spending. The information is derived from first-issued planning reports in McGraw Hill Construction’s Dodge Reports database. The data lead the U.S. Commerce Department’s nonresidential spending by a full year. In the graph to the right, the index has been shifted forward 12 months to reflect its relationship with the Commerce data.

MOMENTUM INDEX DIPSIn September, the Dodge Momentum Index fell 0.7%, to 155.8. Despite the drop—the third in a row—the index is up 8% versus this time last year, after 13% growth in the first half of 2014.

03 04 05 06 07 08 09 10 1 1 12 13 14 150

100

200

300

400

0

50

100

150

200

MONTHLY DETAIL9/2014 –– 9/2015

U.S. COMMERCE DEPARTMENT DODGE MOMENTUM INDEX

INDEX (2000 = 100)

1/ 2015

0

60

40

20

160

140

80

100

120

180

INDEX (2005 = 100)

2013 2014JM JAMFJDNOSA A

Ranked by higher-education construction starts 1/2013 through 8/2014

MARKET FOCUSHIGHER-EDUCATION CONSTRUCTION

Princeton Neuroscience Institute & Peretsman-Scully Hall; Princeton, New Jersey; Rafael Moneo Architects (page 112)

$252 MILLION

$251 MILLION

$218 MILLION

1 NEW YORK CITY 692

BUFFALO, NY 317

WASHINGTON, D.C. 293

BOSTON 260

CHICAGO 229

Ranked by total higher-education construction starts 1/2014 through 8/2014

Top Metro-Area Markets

REGION $MILLIONS

30

PH

OT

OG

RA

PH

Y:

© D

UC

CIO

MA

LA

GA

MB

A

Data from McGraw Hill Dodge Analytics

The index is based on seasonally adjusted data for U.S. higher-education construction starts. The average dollar value of projects in 2005 serves as the index baseline.

2

3

4

5