The U.S. Bureau of Economic Analysis reported that investment in non-residential structures decreased at a 7.9% annual pace in Q3. Investment in single family structures was $286 billion (about 1.4% of GDP), down slightly in Q3 compared to Q2, and multi-family structure investment also decreased in Q3. Home improvement was stable at a $264 billion in Q3 (about 1.3% of GDP.)
The ability to adapt and innovate are proving to be a critical key to success in the retail sector as reiterated by Sears’ recent bankruptcy filing. Though the move will leave behind large blocks of vacant space, many investors are optimistic that they will quickly backfill those locations with high quality tenants or by adapting the space into industrial, office or even self-storage.
Manchester Financial Group has launched Manchester Pacific Gateway, a $1.5 billion redevelopment of the Navy Broadway Complex in downtown San Diego. Situated along the waterfront near the central business district, the new 3 million-square-foot mixed-use complex will include a new 17-story, Class A office building to be occupied by the U.S. Navy.
Construction and operation of buildings constitutes more than 40 percent of our total energy consumption, results in half our carbon emissions, and consumes 3 billion tons of newly extracted raw materials annually in the USA. Kathryn Rogers Merlino, University of Washington associate professor of architecture, has authored a book that makes the case for the environmental benefit of reusing buildings rather than tearing them down and building anew.
According to Protos, a Belgian charity that promotes access to safe water, more than 85 percent of Bamako households handle their own sanitation – meaning they have to dispose of any wastewater and excrement themselves.