The U.S. modular construction business has doubled in size to $8 billion over the last five years, according to the Modular Building Institute, a non-profit trade association serving modular construction. Of general contractors already using modular construction, 67 percent expect modular use to increase over the next three years, 24 percent expect demand to remain the same, and none expect it to decrease, according to the U.S. Chamber of Commerce Commercial Construction Index.
Apartment trade associations have closely followed discussions in Congress about the form that potential reform might take. “There seems to be a lot of consensus,” says Ken Fears, senior policy representative on housing finance for the National Association of Realtors, a trade organization based in Washington, D.C.
The New York Times looks at TSX Broadway, the new project in Times Square that will include a theater, a hotel and a shopping center. Most condo sales at Trump Tower have led to a loss, with some units posting a 20 percent decrease, according to Bloomberg. These are among today’s must reads from around the commercial real estate industry.
