Input Prices Up in May
Source: Associated Builders and Contractors Construction input prices rose 0.8 percent in May compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data released today. Nonresidential construction input prices rose by 0.8 percent for the month as well. Of the 11 subcategories, only three experienced monthly decreases, with […]
COVID-19 News Round-up for June 12
Budget, Policy & Stimulus News Peoria to receive $20M in CARES Act funds The City of Peoria is about to see some financial relief come its way to address the economic fallout of the COVID-19 pandemic. The State of Arizona has received $441M in direct, flexible funding to be disbursed to cities, towns and counties that did not receive direct federal funding thanks to […]
Invest. in Structures Down; Const. Spending Stable
Source: Marcum LLP The Marcum Commercial Construction Index for the first quarter of 2020 reports an industry suffering the adverse effects of COVID-19. Construction employment fell by nearly one million jobs from March to April 2020, a decrease of 12.8 percent. The industry’s unemployment rate increased from 6.9 percent in March to 16.6 percent in April, the highest level since early 2012. The index […]
COVID-19 News Round-up for June 9
Budget News Scottsdale CARES Act Allocation Estimated at $29M More than $29M in CARES Act funds may soon be coming to Scottsdale. The municipality has a planned conversation on June 16th to discuss and provide direction for funding of city programs and key funding areas, and amounts of funding for those programs and key funding areas; contingent […]
COVID-19 News Round-up for June 5
Policy & Stimulus News Queen Creek Extends Permit, Planning Deadlines The Town of Queen Creek has announced that all Building, Planning, and Engineering permits, plans, and approvals with expiration dates between 5/1-12/31, or that have approval dates prior to 12/31, have been automatically extended for an additional 1-year at no cost. Additional flexibility can be applied to active development applications and can be approved […]
April Nonresidential Construction Spending Drops
Source: Associated Builders and Contractors National nonresidential construction spending decreased by 1.8 percent in April, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, spending totaled $801.8B for the month, a 0.9 percent increase from April 2019. Of the 16 subcategories, 13 were down on a […]
COVID-19 News Round-up for June 2
Policy & Stimulus News Tucson OKs $96M Crisis Funding Distribution Plan A plan to distribute $95.7M in federal CARES Act funding to help Tucson recover from the impact of COVID-19 has been approved by the city council. The plan includes $22M in community aid, $38M in funding for the continuity of city operations and services and $33M in reserves in anticipation of […]
Maricopa County Building Permits Up
Source: Maricopa County Planning and Development There’s not a lot of good economic news out there these days, but data from Maricopa County Planning and Development Department shows some encouraging signs for the nation’s fastest-growing county. Building permit submissions are up substantially year-over-year, with a greater percentage of these being completed online. Planning and Development reports 1,371 permit applications were submitted in April 2020 compared to 1,141 in April […]
COVID-19 News Round-up for May 29
Policy & Stimulus News Gov. Ducey Announces Nearly $600M in Local Relief Funds The Governor’s Office is providing nearly $600M in coronavirus relief and recovery dollars for local Arizona governments and nonprofits as part of a funding plan announced by Governor Doug Ducey. The plan includes $441M in direct, flexible funding to local cities, towns and counties that did […]
Multifamily Report Shows Sector’s Uncertainty
Source: ABI Multifamily ABI Multifamily has published its Q1 2020 Phoenix Multifamily Quarterly Report. And while the start of 2020 was strong, with rent growth, healthy occupancy rates, lower cost of living, and high renter demand all pointing to another extraordinary year, the future has yet to tell how the multifamily industry will be impacted by the COVID-19 global pandemic. With […]