{"id":1004514817,"date":"2021-03-08T06:33:48","date_gmt":"2021-03-08T14:33:48","guid":{"rendered":"http:\/\/internal.cpexecutive.com\/?p=1004514817"},"modified":"2021-05-15T10:12:47","modified_gmt":"2021-05-15T18:12:47","slug":"dodge-reports-spike-in-construction-planning","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dodge-reports-spike-in-construction-planning\/","title":{"rendered":"Dodge Reports Spike in Construction Planning"},"content":{"rendered":"
\"\"<\/a>

Image by PublicDomainPictures via Pixabay.com<\/em><\/p><\/div>\n

The Dodge Momentum Index rose to 149.0 in February, up 7.1 percent compared to January\u2019s reading of 139.1<\/a>. The increase marked the highest level for the index in nearly three years, according to the latest report by Dodge Data & Analytics.<\/p>\n

\n

READ ALSO<\/strong>: Resilience: A Blueprint for Cities\u2019 Future<\/a><\/p>\n

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The report also noted that the Dodge Momentum Index was up 9.2 percent compared to the same time last year.<\/p>\n

The index\u2019s February increase was buoyed by the institutional sector\u2019s 26.3 percent increase that hit 105.4, compared to January\u2019s reading of 83.5. However, institutional momentum is down 3.3 percent year-over-year. February saw large hospitals and lab projects move into planning, but Dodge noted some uncertainty with sustaining this level of activity.<\/p>\n

\"\"<\/a>

Chart by Dodge Data & Analytics<\/em><\/p><\/div>\n

Richard Branch, Dodge\u2019s chief economist, told Commercial Property Executive<\/em>, that there was a growing demand for health-care and lab space prior to the start of the COVID-19 pandemic.<\/p>\n

\u201cSo that we\u2019re seeing these types of projects moving forward is not a complete surprise,\u201d Branch told CPE<\/em>. \u201cIt remains to be seen if this is the start of a longer-term trend or the beginning of recovery for the institutional sector, as rising material costs weigh on overall activity.\u201d<\/p>\n

On the other side, commercial planning momentum remained largely the same, increasing 0.1 percent to 184.2 in February, compared to January\u2019s reading of 184.1. Year-over-year, the commercial sector instead saw a 15.2 percent increase. Despite the inaction with commercial planning momentum, Branch told CPE<\/em> that the overall level of the index suggests that developers are still confident that commercial projects like warehouses and data centers will be in high demand over the next year.<\/p>\n

\"Dodge<\/a>

Chart by Dodge Data & Analytics<\/em><\/p><\/div>\n

February\u2019s major projects<\/h2>\n

The index\u2019s rise can be attributed to several large projects entering the planning stage in February. Throughout the month, 14 projects that had a value of at least $100 million went into planning, according to Dodge.<\/p>\n

The major institutional projects included the University of Iowa Hospital in North Liberty, Iowa, which is valued at $230 million, as well as the Ultra Labs life sciences building in Philadelphia that\u2019s valued at $190 million. Despite the pause in momentum, the commercial sector still saw some notable projects enter the planning stages, like two data centers in Catlett, Va., each valued at $135 million.<\/p>\n

Read the report by Dodge Data & Analytics<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Dodge Momentum Index rose to its highest level in three years. <\/p>\n","protected":false},"author":883,"featured_media":1004529136,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,45527,23891,21742],"tags":[48950,34401],"class_list":["post-1004514817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-keyword-optimized","category-national","category-latest","tag-coronavirus","tag-dodge-data-analytics"],"acf":[],"yoast_head":"\nDodge Reports Spike in Construction Planning - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/dodge-reports-spike-in-construction-planning\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dodge Reports Spike in Construction Planning\" \/>\n<meta property=\"og:description\" content=\"The Dodge Momentum Index rose to its highest level in three years.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/dodge-reports-spike-in-construction-planning\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-08T14:33:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T18:12:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/abstract-21613_1920.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jackson Chen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dodge-reports-spike-in-construction-planning\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/dodge-reports-spike-in-construction-planning\/\",\"name\":\"Dodge Reports Spike in Construction Planning - 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