Big Headaches Despite Recovery
Construction labor shortages. Rising materials costs. The uptick is nice, but it's not without drawbacks. (Luckily the price of aspirin is about the same.) That's why we're holding our Bisnow Orange County Construction & Development Summit on July 30 to learn how you can tackle the market head-on.
KPRS Construction Services prez Joel Stensby, who's speaking at our event, tells us demand for labor has increased moderately as the number of projects has crept up. There’s no labor crisis yet, but if the number of projects booms even more, it’s a worry. He tells us that KPRS went to considerable efforts to keep its employees during the recession, so that it wouldn't be impacted by a skills shortage as much during the recovery. Joel also points to increasing materials costs as a potential worry for local contractors. (Did you hoard hammers?)
Recently, KPRS completed work on a 400k SF distribution facility for America's Tire in Perris. The project included tilt-up construction of the core and shell. The company also inked a deal this month with the City of Newport Beach to built Marina Park, a 13k SF sailing center and a 11k SF community center. The LEED Silver project will be completed in 2016. Also on hand at our event will be speakers from DJM Capital, Guthrie Development, Irvine Co, Keating Khang Architecture, Rexford Industrial, and Saunders Commercial Seismic Retrofit. Plenty of networking too! Sign up here.