{"id":1004539067,"date":"2021-06-09T07:03:42","date_gmt":"2021-06-09T15:03:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004539067"},"modified":"2022-12-07T23:55:06","modified_gmt":"2022-12-08T07:55:06","slug":"dodge-reports-surge-in-construction-plans","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dodge-reports-surge-in-construction-plans\/","title":{"rendered":"Dodge Reports Surge in Construction Plans"},"content":{"rendered":"
\"\"<\/a>

Chart courtesy of Dodge Data & Analytics<\/p><\/div>\n

The latest Dodge Momentum Index jumped to 178.0 in May, from a revised April metric of 163.2, according to Dodge Data & Analytics. The index is benchmarked at a value of 100, as of the year 2000.<\/p>\n

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READ ALSO<\/strong>: \u2018Turning Point\u2019 for Office in 2022: NAIOP<\/a><\/p>\n

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The index is a monthly measure of the initial report for nonresidential building projects in planning, which has proven  to be a leading indicator (by a full year) of construction spending for such buildings.<\/p>\n

The surge in May resulted from a large increase in commercial (as contrasted to institutional) planning activity; commercial planning posted its strongest month-over-month increase since October 2017. As of May, institutional planning fell, though by less than 1 percentage point.<\/p>\n

Despite these signs that the post-pandemic recovery is starting to spread into the construction sector, Dodge cautioned that \u201cthese projects are unlikely to have an impact on construction starts this year. Rising material prices and a continued shortage of skilled labor have led to project delays.\u201d<\/p>\n

Over the past four months, Dodge reports, \u201ccommercial planning had been in a holding pattern,\u201d but it bolted forward in May because of several significant data center, office, and warehouse projects that combined to push the Momentum Index\u2019s commercial component to a 13-year high.<\/p>\n

Year-over-year, both commercial and institutional planning were up from May 2020 (38 percent and 47 percent, respectively), as was the index overall, by 41 percent.<\/p>\n

While institutional planning was largely flat in May, it\u2019s nonetheless at levels not seen since 2009.<\/p>\n

Twenty-one projects valued at $100 million or more each entered planning during May. The leading commercial projects were a $500 million conversion of a coal-burning power plant in the Buffalo, N.Y., area into a data center and a $450 million office campus in Los Angeles. The leading institutional projects were the $250 million Houston Methodist Hospital Campus in Cypress, Texas, and the $250 million Landmark Center in Boston.<\/p>\n

Steady progress<\/h2>\n

The Dodge Momentum Index has been climbing steadily so far this year. In February, for example, it rose 7.1 percent over the previous month<\/a>, which was also 9.2 percent up on a year-over-year basis.<\/p>\n

In that case, the surge was driven more by institutional planning, primarily large hospitals and lab projects, than by planning of commercial projects.<\/p>\n

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

Planning for commercial construction was the driver that pushed the Dodge Index to a 13-year high. <\/p>\n","protected":false},"author":882,"featured_media":1004537806,"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":[48950,34401,34402],"class_list":["post-1004539067","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","tag-dodge-momentum-index"],"acf":[],"yoast_head":"\nDodge Reports Surge in Construction Plans - 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-surge-in-construction-plans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dodge Reports Surge in Construction Plans\" \/>\n<meta property=\"og:description\" content=\"Planning for commercial construction was the driver that pushed the Dodge Index to a 13-year high.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/dodge-reports-surge-in-construction-plans\/\" \/>\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=\"2021-06-09T15:03:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T07:55:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/manhattan-1567114_1920.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1380\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\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-surge-in-construction-plans\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/dodge-reports-surge-in-construction-plans\/\",\"name\":\"Dodge Reports Surge in Construction Plans - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dodge-reports-surge-in-construction-plans\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dodge-reports-surge-in-construction-plans\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/manhattan-1567114_1920.jpg\",\"datePublished\":\"2021-06-09T15:03:42+00:00\",\"dateModified\":\"2022-12-08T07:55:06+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dodge-reports-surge-in-construction-plans\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/dodge-reports-surge-in-construction-plans\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dodge-reports-surge-in-construction-plans\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/manhattan-1567114_1920.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/manhattan-1567114_1920.jpg\",\"width\":1920,\"height\":1380,\"caption\":\"Manhattan. 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