Construction Cost

To keep apprised of the dynamics in the current construction environment, Vermeulens, a professional services firm focused on construction cost estimation and pre-construction cost control, has scheduled twice-weekly virtual roundtable discussions with industry leaders in Central and East Coast regions to identify ongoing trends, influencing factors, construction administration issues, and the market outlook in the construction industry. Economic indicators are in flux, and while employment in construction seemed to have avoided the drop seen in other sectors through mid-March, a survey conducted by the Associated General Contractors of America (AGC) shows that conditions are worsening, with 55 percent of the 1,600 repondents nationwide reporting they had been directed to hault work on at least one project, and 27 percent have furloughed or terminated construction workers. The next federal jobs report, which will be issued at the end of April, will provide a truer picture, says James Vermeulen, managing principal of Vermeulens.

Vermeulens has released its market outlook report for the fourth quarter of 2019. Key points include:

Foghorn Therapeutics broke ground in January of 2020 on its 60,000-sf headquarters in Cambridge, Mass. Located in Kendall Square, the facility will provide chemistry and biology labs, open offices, conference rooms, huddle rooms, and an employee café. Foghorn will occupy over three floors in the building, which is owned by Alexandria Real Estate Equities and managed by CBRE.

Vermeulens has released its market outlook report for the third quarter of 2019. Key points include:

Michigan State University broke ground on the $85 million Doug Meijer Innovation Building in Grand Rapids in November of 2019. Designed by SmithGroup, the 205,000-sf facility will house multiple tenants including Spectrum Health, BAMF Health, and MSU's College of Human Medicine. The collaborative six-story building will enable the discovery and commercialization of new medical devices, artificial intelligence technologies, and treatments for cancer and dementia.

Vermeulens has released its market outlook report for the second quarter of 2019. Key points include:

Amgen broke ground in late July of 2019 on a $200 million biomanufacturing center in West Greenwich, R.I. Featuring a highly flexible, modular design, the next-generation facility will leverage advanced technologies to reduce operational expenses, consume 80 percent less energy and water, and achieve a 75 percent decrease in carbon emissions.

Vermeulens has released its market outlook report for the first quarter of 2019. Key points include:

Southwestern College dedicated the $85.6 million Math and Science Building in June of 2019 in Chula Vista, Calif. Designed by Marlene Imirzian & Associates Architects to put science on display, the 132,708-gsf (99,747-nsf) facility features dedicated spaces for the school's new fermentation and drone science programs, as well as providing three large lecture halls, 15 laboratory classrooms, 19 standard classrooms, computer labs, study areas, administrative and faculty offices, collaboration areas, and a maker suite with a 3D printer.

With demand for human donor organs historically and increasingly outpacing the available, viable supply, researchers and physicians have looked for decades at xenotransplantation—cross-species transplantation—as a possible vehicle to overcome the problem. The traditional approach to xenotransplantation, however, is an “impediment to moving transplantation forward,” asserts Karl Kraebber, director of xenotransplantation operations at the University of Alabama at Birmingham School of Medicine. His team believes the solution isn’t in expensive and time-consuming renovation of existing buildings. “Our more novel approach is for flexible, modular spaces, to be used for small pilot trials and then scaled up once we have partnership with our governing agencies,” he says. “We’ll take ‘fast and good’ over ‘slow and perfect’ every time. It doesn’t mean we’re cutting corners.”

The Rockefeller University dedicated the $500 million Stavros Niarchos Foundation–David Rockefeller River Campus in May of 2019 in New York. The 160,000-sf complex features the $300 million, 135,600-sf Marie-Josée and Henry R. Kravis Research Building which provides flexible labs, two amphitheaters, offices, conference rooms, a dining area, and outdoor terraces. The two-story, horizontally oriented structure was designed to enhance collaboration and can support over 600 scientific staff.

The U.S. Department of Energy's Building Technologies Office announced up to $33.5 million in funding in May of 2019 for early-stage research and development of advanced building construction techniques to reduce energy costs. The Advanced Building Construction with Energy-Efficient Technologies & Practices (ABC) initiative aims to develop deep energy retrofit and new construction technologies that holistically tackle a combination of envelope, heating, cooling, water heating, and ventilation issues.

The University of Illinois broke ground in April of 2019 on the $75 million Classroom Instructional Building in Urbana. Providing 24 instructional spaces for programs in engineering, computer science, math, and statistics, the facility will feature a Greek-style round classroom, a distance-learning classroom, and team learning rooms with flexible furniture. The public-private project will be delivered by Vermilion Development, Campbell Coyle Real Estate, Provident Group, and Pepper Construction.

Vermeulens has released its market outlook report for the fourth quarter of 2018. Key points include:

The University of Hawaii at Manoa is building a $50 million life sciences facility in Honolulu. Designed to promote interdisciplinary collaboration, the three-story, 45,000-sf project will provide the College of Natural Sciences with classrooms, teaching and research laboratories, lab support spaces, and offices. Accommodating the departments of biology, microbiology, and botany, the building will also house the Pacific Biosciences Research Center and the Biological Electron Microscope Facility.