What you missed last week: Architecture billings up again; record year for hotel renovations; nation's most expensive real estate markets

BD+C's roundup of the top construction market news for the week of August 18 includes the latest architecture billings index from AIA and a BOMA study on the nation's most and least expensive commercial real estate markets.

AIA ARCHITECTURE BILLINGS INDEX UP AGAIN IN JULY

The ABI, a leading indicator in commercial construction, was up more than a full point last month, to 52.7 (any score above 50 means increased billings). The number was above 50 in every region and every market sector tracked by the AIA. New projects index also up dramatically, to 66.7, from 62.6 in June. http://www.bdcnetwork.com/aia-architecture-billings-rise-july

FIVE MOST (AND LEAST) EXPENSIVE COMMERCIAL REAL ESTATE MARKETS

At the top: Stamford, Conn. ($16.11/sf), New York, Grand Rapids, Mich., Newark, N.J., and San Francisco. At the bottom: Stockton, Calif. ($3.57/sf), Fresno, Calif., Huntsville, Ala., Virginia Beach, Va., and Albuquerque, N.M. Total operating expenses were down 3.9% overall from 2011 to 2012, BOMA says, crediting maximization of operating efficiency. http://www.bdcnetwork.com/5-most-and-least-expensive-commercial-real-estate-markets

2013 WILL BE A RECORD YEAR FOR HOTEL RENOVATIONS

Duro-Last blogger Drew Ballensky reports that the U.S. hotel industry is expected to spend $5.6 billion on capital expenditures this year, beating the prior record set in 2008. NYU's Preston Robert Tisch Center for Hospitality says 20% of hotels will receive improvements this year. http://www.bdcnetwork.com/blog/2013-will-be-record-year-hotel-renovations

CODE AMENDMENT IN DALLAS WOULD LIMIT EXTERIOR REFLECTIVITY

Proposal would limit exterior reflectivity of "visible light" to 15%, in attempt to cut down "undesirable" and "potentially hazardous" glare. Potential "non-green" side effect: use of dark or tinted glass that interferes with daylighting. Of note to all designers and glass/enclosures manufacturers. http://www.bdcnetwork.com/code-amendment-dallas-would-limit-building-exterior-reflectivity

Also see: Top construction news for the week of August 11, 2013

A terminal modernization program can be a complicated and expensive task that airport operators may be hesitant to undertake unless necessitated by demands for increased capacity. This is the first post in our series examining why airport operators should bother to upgrade their facilities, even if capacity isn’t forcing the issue.