Nonresidential building planning carried its late-2024 momentum into the brand new 12 months, posting growth across all sectors, in accordance with Dodge Development Community.
The Dodge Momentum Index, a benchmark that measures nonresidential building planning, jumped 5.6% in January. Institutional planning, similar to hospitals and training, led the month’s progress with an 8.7% improve, whereas business planning gained 4.2%, in accordance with the report.
“Nonresidential planning exercise noticed diversified progress in January, with each vertical experiencing constructive momentum,” mentioned Sarah Martin, affiliate director of forecasting at Dodge Development Community. Regardless of that progress, dangers nonetheless loom, she mentioned. “Uncertainty over fiscal insurance policies, ongoing labor shortages and elevated building prices will proceed to be headwinds to the development sector.”
Nonetheless, additional financial easing and the sizable variety of tasks in planning ought to nonetheless help construction spending within the again half of the 12 months, mentioned Martin. On a 12 months over 12 months foundation, the index jumped 26% from January 2024, in accordance with Dodge.
Industrial planning surged 37% in comparison with January 2024, whereas institutional planning elevated 9% throughout that interval. Data centers remain a key driver of that progress, although total planning exercise continues to broaden as effectively.
Excluding information facilities, business planning would have jumped 13%, whereas the general DMI would have climbed 11%.
A complete of 33 tasks valued at $100 million or extra entered planning in January. Main business tasks included:
- A $500 million Amazon information middle in Jeffersonville, Ohio.
- Part 1 of the Hunter’s Ridge information middle in McLean, Virginia.
The most important institutional tasks to enter planning included:
- The $407 million Memorial Hospital enlargement in Colorado Springs, Colorado.
- The $300 million AdventHealth Hospital enlargement in Parker, Colorado.
Trending Merchandise
KAFAHOM Power Tool Organizer Wall Mount, 4-Tier Drill Holder for Cordless Tools, 2-Pack Set, Garage Storage Rack with Side Hooks for Hammers & Pliers, Tool Organizer for Workshop/Utility Room
XMJY 5 Pack Funny Hardhat Stickers – Can We Fix It? No, It’s Fucked, Cute Cartoon Hard Hat Stickers for Builder, Waterproof Vinyl Stickers for Tool Box, Helmet (3 inch)
Cisily Brown Sponge Holder for Kitchen Sink, Sink Caddy Organizer with High Brush Holder, Kitchen Countertop Organizers and Storage Essentials, Rustproof 304 Stainless Steel, Soap Dispenser Organize
Mohawk Fil-Stik Wax Putty Stick, White M230-0202, 1 Count
