Each quarter, I meet with a handful of real estate and construction executives to discuss what we’re seeing and the broader implications for the region. Our gathering this week included a visit with a DOT Director, John Cooper. A state’s DOT decisions are often the lynchpins in a development, so the trends are definitely worth …
We built our first segmental wall in Charlottesville, Virginia about 20 years ago. I was recently passing through there and saw that the wall is still standing, just as we built it in the early 90s. At the time, the locals called it “the Great Wall of Charlottesville.” It was pretty tall for that time–32 …
The other day, I was thinking about how the web and technology have created new words in our everyday vocabulary. For instance how many times do you say “I’ll Google it?” Ten years ago, no one would have known what you where talking about. In the same vein, “just PDF it to me,” “tweet it,” …
Someone once said to me, “Most of the good sites are taken.” While I’m not sure this is exactly true, the last few decades have given us new techniques for “challenging” soils, adding new tools to our toolbox. Previously un-developable sites can now be developed in a cost-effective manner. Over the last few years, we …
To me, newspaper coverage aside, the economic climate still boils down to what’s happening with the boots on the ground, to us. The big trends will be in the newspaper, and they are good national or global indicators. But this is really our neighborhood. Smaller companies make 99.7 percent of business transactions and 46 percent …
While our economy continues to move along, we are seeing pockets of great expansion. In other areas things are moving more slowly. In regards to the market cost, some of our customers have asked how we see things changing. I used to think that material prices were controlled mainly by supply and demand, but that …
In the 1960s, the amount of office space allocated to an individual was a direct indicator of your status at a company. Bigger was better, with CEOS working in sprawling square footage, and folks lower on the totem pole being relegated to large “bullpens.” Furniture maker Herman Miller made a dent in this philosophy when …
Growing up, I often visited South Georgia, where my father told me what it was like in the early days of a cotton farmer. As I recall, they would plant the same crop annually, repeating year after year. There were lots of reasons for this of course–I am certainly not chucking spears at the farmers–but …
This week, I attended 2013 RECon Las Vegas, or the “ICSC” as it is commonly called. It was an impactful 4 days, with 30,000 of my closest friends from around the country and beyond. Through listening, conversation and observing behavior, here are my quick take aways from this year’s event: In years past, the conference has …
Last week, I had breakfast with Ken Simonson, chief economist with the Associated General Contractors of America. While we see a good bit of positive news, it was interesting to listen to his national perspective, hearing the facts and the trends as he sees them. Construction spending totaled about $854 billion in 2012, a 10% …
Yesterday, I had the opportunity to meet with several senior advisors to the National Economic Council in Washington DC. Our “Gang of Nine” business leaders from the South included people involved in construction, agriculture and the food industry. We were invited to the Capital to discuss immigration reform. Interestingly, we all found fairly common ground. After …
Retirement is a strange word to me, as it seems few people ever really stop working. Perhaps we just shift our interests a bit. Last week, I was talking with the recently “retired” Mike Prior, who formerly managed a mortgage loan investment portfolio of $5-6 billion for a major life insurance company. Mike now offices in our quiet …