Atlanta Hits New Record For Construction While Demand Is Holding Steady

Atlanta developers Tenth Street Ventures and EcoVest Capital are looking to bring beachfront property to the city. The partners have signed a development agreement with Crystal Lagoons — a company that builds publicly accessible, artificial Caribbean-style beaches — that covers Metro Atlanta and the Southeast. Crystal…

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Developers of lab and biomanufacturing space, tasked with meeting seemingly unending demand for more product built with refined specifications and top-line tech, are turning to a familiar method for cutting costs and build time: modular construction.

With high demand for labs and an extensive pipeline of projects across the country, developers are on the lookout for any advantage to speed up development. Modular construction has long been at the precipice of offering such a solution but has struggled to catch on for a raft of reasons.

But changing demand and more cautious development approaches are creating an opening for modular techniques and products to become a bigger part of biotech building. 

“Modular construction has become a larger part of the life science industry over the past few years,” Lendlease America General Manager of Life Science Construction Anthony Giuliano said. “We expect modular construction to continue to flourish as several of our clients have approached us requesting support.” …

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In Case You Missed It...

Anyone on recession watch this year may have whiplash. 

The U.S. logged two straight quarters of declining gross domestic product, often viewed as the technical definition of a recession. But jobs reports kept coming in above predictions month after month, indicating to many that the economy is strong.

Then the consumer price index rose by 8.3% year-over-year in August, surprising economists who expected slowing inflation. Recession fears came roaring back. 

Tensions are running high in real estate as the Federal Reserve keeps raising interest rates, and a broader downturn could be on the horizon.

Is a recession imminent, or is it already here? When will it hit, and how long will it likely last? How bad will it get? Which real estate asset classes will be most affected and which would persevere? Bisnow is regularly speaking with economists and property experts to attempt to answer those questions, and we will keep this…

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