Real Estate & Construction News Roundup (09/06/23) – Nonprofit Helping Marginalized Groups, Life Sciences Taking over Office Space, and Housing Affordability Hits New Low
In our latest roundup, Walmart adds their own generative AI, major airlines reduce their capacity at regional airports, autoworkers prepare for a strike as negotiations continue, and more!
- A nonprofit in Philadelphia is helping connect marginalized business owners with construction projects before bids are announced to improve equity in deals. (Kristen Mosbrucker-Garza, WHYY)
- While the traditional office space market has been rocky, the life sciences market has taken over, creating more than one out of every four new projects. (Greg Cornfield, Commercial Observer)
- Along with JLL, Walmart has joined the growing list of major U.S. companies supplying their own generative AI tools to some of their employees. (Lindsey Wilkinson, Construction Dive)
- Due to factors such as changing economics, the COVID-19 pandemic and a shortage of pilots, major airlines are pulling services to small hubs and regional airports across the country. (Adam Bearne, NPR)
- Housing affordability has hit a nearly four-decade low as new house hunters struggle and investment has slowed. (Phil Rosen, Business Insider)
- With $550 billion in new federal infrastructure funds from the Infrastructure Investment and Jobs Act being accessed by states, they are running into an issue — more jobs than workers. (Shannon Pettypiece, NBC)
- As construction looks to move toward more sustainable practices, the realities slightly differ from the stated goals. (Russell Haworth, Forbes)
- An autoworkers strike looms as their union pushes General Motors, Stellantis and Ford for demands that even the UAW’s own president calls “audacious.” (AP via CBS)
