Turner Construction Company announced that the First Quarter 2013 Turner Building Cost Index – which measures costs in the non-residential building construction market in the United States – has increased to a value of 849. This reflects a 1.19% increase from the Fourth Quarter 2012 and a 3.41% increase from the First Quarter 2012.
"The increase in private non-residential construction spending over the past year, material and equipment prices continuing to inch upwards, and a slight increase in labor rates has led to a boost in construction costs," said Karl F. Almstead, the Turner vice president responsible for the Turner Building Cost Index.
Approximately 90% of Turner's business is performed under contract arrangements where Turner provides extensive preconstruction planning services before the contract price is fixed and before construction starts. By providing preconstruction services and utilizing enhanced procurement strategies, Turner effectively manages the market risks associated with cost-related issues.
Turner has prepared the construction cost forecast for more than 80 years. Used widely by the construction industry and Federal and State governments, the building costs and price trends tracked by the Turner Building Cost Index may or may not reflect regional conditions in any given quarter. The Cost Index is determined by several factors considered on a nationwide basis, including labor rates and productivity, material prices and the competitive condition of the marketplace. This index does not necessarily conform to other published indices because others do not generally take all of these factors into account.
About Turner Construction Company
Turner is a North America-based construction services company. Turner first made its mark on the industry pioneering the use of steel-reinforced concrete for general building, which enabled the company to deliver safer, stronger, and more efficient buildings to clients. The company continues to embrace emerging technologies, update and refine processes, and remain responsive to the needs of their employees, clients, and the communities it serves. With an annual construction volume of $8 billion Turner is the largest general builder in the United States. The firm is a subsidiary of HOCHTIEF, a publicly traded company, and one of the world's leading international construction service providers. For more information please visit www.turnerconstruction.com.
Related Stories
Building Enclosure Systems | Oct 30, 2024
Winners of Building Envelope Innovation Prize focus on secondary glazing
The U.S. Department of Energy (DOE) recently announced the winners of the first phase of the Building Envelope Innovation Prize. The prize targets high-performance, cost-effective secondary glazing systems to improve efficiency of commercial windows.
Brick and Masonry | Oct 7, 2024
A journey through masonry reclad litigation
This blog post by Walter P Moore's Mallory Buckley, RRO, PE, BECxP + CxA+BE, and Bob Hancock, MBA, JD, of Munsch Hardt Kopf & Harr PC, explains the importance of documentation, correspondence between parties, and supporting the claims for a Plaintiff-party, while facilitating continuous use of the facility, on construction litigation projects.
Building Materials | Aug 19, 2024
Federal 'buy clean' construction materials label program unveiled
The U.S. Environmental Protection Agency announced a plan for implementing a new label program to boost American production of more climate-friendly construction materials and products. The label program will prioritize steel, glass, asphalt and concrete.
Glass and Glazing | Aug 16, 2024
The next generation of thermal glazing: How improving U-value can yield energy savings and reduce carbon emissions
The standards for energy-efficient construction and design have been raised. Due to the development of advanced low-e coatings for the interior surface and vacuum insulating technologies, architects now have more choices to improve U-values wherever enhanced thermal performance is needed to create eco-friendly spaces. These options can double or even triple thermal performance, resulting in annual energy savings and a positive return on carbon.
Sustainability | Aug 14, 2024
World’s first TRUE Zero Waste for Construction-certified public project delivered in Calif.
The Contra Costa County Administration Building in Martinez, Calif., is the world’s first public project to achieve the zero-waste-focused TRUE Gold certification for construction. The TRUE Certification for Construction program, administered by Green Business Certification Inc. (GBCI), recognizes projects that achieve exceptional levels of waste reduction, reuse, and recycling.
Products and Materials | Jul 31, 2024
Top building products for July 2024
BD+C Editors break down July's top 15 building products, from Façades by Design to Schweiss Doors's Strap Latch bifold door.
Smart Buildings | Jul 25, 2024
A Swiss startup devises an intelligent photovoltaic façade that tracks and moves with the sun
Zurich Soft Robotics says Solskin can reduce building energy consumption by up to 80% while producing up to 40% more electricity than comparable façade systems.
Great Solutions | Jul 23, 2024
41 Great Solutions for architects, engineers, and contractors
AI ChatBots, ambient computing, floating MRIs, low-carbon cement, sunshine on demand, next-generation top-down construction. These and 35 other innovations make up our 2024 Great Solutions Report, which highlights fresh ideas and innovations from leading architecture, engineering, and construction firms.
Building Technology | Jun 18, 2024
Could ‘smart’ building facades heat and cool buildings?
A promising research project looks at the possibilities for thermoelectric systems to thermally condition buildings, writes Mahsa Farid Mohajer, Sustainable Building Analyst with Stantec.
Concrete Technology | Jun 17, 2024
MIT researchers are working on a way to use concrete as an electric battery
Researchers at MIT have developed a concrete mixture that can store electrical energy. The researchers say the mixture of water, cement, and carbon black could be used for building foundations and street paving.
