Shawmut Design and Construction has joined Draper and Wexford Science & Technology to break ground on the 111,000-square-foot Integrated Microelectronics Production & Advanced Chip Technology (IMPACT) Center in Lowell, Massachusetts.
A Margaritaville resort is going up on Belize’s Ambergris Caye, as the company takes over a development that had been abandoned. The resort is slated to open in 2020. Read the Hotel Management online story here
Shopping centers in southeastern Wisconsin are likely to work to adopt new uses for vacant space in 2019, such as adding sports-focused retailers, entertainment and comprehensive redesigns to convert them into mixed-use developments. Retailers and grocers will work to tap into e-commerce and delivery options
Between 2018 and 2021, the design-build model for construction industry project delivery will jump 18% and account for 44% of industry spending, according to an FMI report. However, in a quarter of the projects FMI reviewed, AEC firms did not fully understand the parameters of
AccorHotels‘ acquisition of Onefinestay and Hyatt‘s investment in Oasis are examples of how hotel companies are looking to incorporate home-sharing. Marriott is expanding its pilot program with Hostmaker. Read the Skift story here
CBRE says the Charleston, S.C., area has dozens of hotel projects in its pipeline that will bring 4,000 additional rooms. The 179-key Hotel Bennett is opening in January. Read The Post and Courier story here
Construction employment increased by 38,000 jobs in December and by 280,000 jobs, or 4.0 percent, over the past year, while the industry’s average pay accelerated and unemployment decreased to a historic low, according to an analysis of new government data by the Associated General Contractors
Plans are in the works for a 115-room, extended-stay hotel near Briarwood Mall on Ann Arbor’s south side. Read the MLive story here
A $500 million effort to build the first tribal casino-resort in Sacramento County, California, is in the pile load testing phase. The tribe hopes to finish work late next year. Read the Elk Grove Citizen story here
The 2019 outlook for REITs is a strong one despite larger economic uncertainties. Singled out was the retail and apartment sectors as poised to do particularly well this year. Read the National Real Estate Investor online story here
Overall U.S. retail vacancy rates remained at 10.2% in the fourth quarter and rates at regional and super-regional malls dipped slightly from 9.1% to 9%, according to research firm Reis. Vacancy rates are expected to hold firm this year, after retailers announced they would shutter
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