Pansy Shah

🏙️ With major corporations like Citadel and Boeing relocating, Chicago’s commercial property values have plummeted. The office vacancy rate is at 16.3%, higher than the national average, and 75% of office space mortgages converted into securities are in default or at risk. Chicago and its Mayor, Brandon Johnson, are now offering the nation’s most generous subsidies to convert downtown office building into apartments and hotels. Do you think the gains outside the CBD could offset declines downtown. How crucial will increased property values be for generating tax revenue to service the $1.25 billion bond, supporting Chicago’s long-term economic growth?

1

Prime Data Centers has achieved a major milestone by topping out construction on the first data center building at their new 180MW campus in Elk Grove Village, Chicago. The ORD01-01 building is the first of three planned at the 30-acre site. Once complete, it will offer 200,000 sq ft of data hall space and up to 72MW of capacity across three stories as a single-tenant hyperscale facility. Two additional three-story buildings are also planned - ORD01-02 with 54MW and ORD01-03 with 54MW - bringing the total campus capacity to over 750,000 sq ft and 180MW at full buildout. This huge new Chicago-area campus adds to Prime's growing U.S. footprint, with major developments also underway in California, Dallas, Phoenix, and internationally in Denmark and Spain. The data center industry continues rapidly expanding to meet soaring demand for digital infrastructure. Ambitious projects like Prime Data Centers's ORD campus highlight the massive scale required to support future compute needs.

66

3 Comments

𝗦𝗸𝗶𝗹𝗹𝗲𝗱 𝗰𝗼𝗻𝘀𝘁𝗿𝘂𝗰𝘁𝗶𝗼𝗻 𝘄𝗼𝗿𝗸𝗲𝗿 𝘀𝗵𝗼𝗿𝘁𝗮𝗴𝗲 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲𝘀 𝗮𝗰𝗿𝗼𝘀𝘀 𝗜𝗹𝗹𝗶𝗻𝗼𝗶𝘀. Judy Lamelza Special to Chicago Construction News The construction industry in Illinois, like much of the United States, is facing a significant challenge: a shortage of skilled workers. This issue has been growing over the past few years and shows no signs of abating. For those in the construction field, understanding the dynamics of this shortage and how it impacts the industry is crucial. Let’s dive into the details of the workforce gap, its implications, and potential strategies to address it. 𝗘𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗮𝗻𝗱 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝘁𝗿𝗲𝗻𝗱𝘀 Economic factors, including fluctuating construction spending and increased demand for infrastructure projects, also exacerbate the shortage. Major projects, such as new residential developments, commercial buildings, and infrastructure upgrades, require a significant workforce, which is currently lacking. URL: https://lnkd.in/gJmEda8S #ConstructionSafety #SafetyFirst #JobSiteSafety #WorkplaceSafety #ConstructionLife #SafetyCulture #PreventAccidents #SafeWorkPractices #ProtectWorkers #SafetyStandards #ConstructionIndustry #HealthAndSafety #SafetyAwareness #SafetyMatters #BuildingSafely #ZeroAccidents

1

Hot off the press! ✍ Our latest article, "How to Target Top Talent in a Shifting Market" has been featured in the most recent newsletter for the Associated Builders and Contractors Southeastern Michigan. 🏗️💼 In this piece, we delve into key strategies and insights to navigate the evolving talent landscape of the construction industry. A big thank you to ABC for the recognition! Check out the full article here: https://lnkd.in/gyMYSQxd and stay tuned for more valuable content! #ConstructionIndustry #Innovation #Sustainability #BuildingTheFuture 🚀

10

As Chicago's industrial market cools from the white-hot activity of 2021-22, developers are taking a more cautious approach and the ratio of spec to Build-to-Suit developments is evening out. Director of Research Services Nicholas Schlanger and Hiffman's research team contributed to this BISNOW report detailing the changing approach to Chicago's industrial development market. #cre #industrial #chicago #development #buildtosuit

28

Chicago Industrial Build-To-Suits Begin Overtaking Spec Builds As Developers Lose Appetite For Risk Developers in Chicago's industrial market are starting to shift new construction projects from speculative buildings to build-to-suit developments as demand lags behind an onslaught of new supply that has come online in the past couple of years. #darwinpw #corfacinternational #industrialrealestate Read more: https://lnkd.in/gR5tEwrv

4

The wait is over! Our highly anticipated Building Safety: Innovations & Insights Report is now LIVE! In collaboration with Associated Builders and Contractors - Illinois Chapter and Double Jack Industries, Lumber is thrilled to unveil this essential resource as part of Construction Safety Week 2024! This report dives deep into the current state of construction safety with insights from Occupational Safety and Health Administration, the Bureau of Labor Statistics, and CPWR--The Center for Construction Research and Training. Inside, you'll find: 📊 Key statistics shedding light on Construction Fatality, Injury, and beyond ⚠️ In-depth analysis of the OSHA Fatal Four - root causes and actionable steps to prevent them! 💡 And don't miss our special segment on Mental Health and Coping Strategies - because well-being matters as much as physical safety! Plus, exclusive insights from industry experts Nick Guilfoyle, President at Allied Safety Group LLC, and Kari Selk, Vice President at Associated Builders and Contractors - Illinois Chapter and Mental Health First Aider. Special thanks to them for their invaluable contributions! It's time to arm yourself with knowledge and take action for a safer tomorrow. Download your copy now at https://lnkd.in/guumniVA #ConstructionSafetyWeek #BuildingSafety #ValueEveryVoice #SafetyReport #DownloadNow

11

Has your manufacturing business been questioning how to transform your operations recently? My colleagues in Milwaukee are hosting a great event on the future of AI in manufacturing and distribution on Tuesday, June 25. Learn about the pivotal role of AI and Salesforce in driving growth, and delve into strategies for customer lifecycle management, from acquisition to retention. Space is limited, so register today. #AI #GenAI #Manufacturing #Distribution

2

Has your manufacturing business been questioning how to transform your operations recently? My colleagues in Milwaukee are hosting a great event on the future of AI in manufacturing and distribution on Tuesday, June 25. Learn about the pivotal role of AI and Salesforce in driving growth, and delve into strategies for customer lifecycle management, from acquisition to retention. Space is limited, so register today. #AI #GenAI #Manufacturing #Distribution

3

Has your manufacturing business been questioning how to transform your operations recently? My colleagues in Milwaukee are hosting a great event on the future of AI in manufacturing and distribution on Tuesday, June 25. Learn about the pivotal role of AI and Salesforce in driving growth, and delve into strategies for customer lifecycle management, from acquisition to retention. Space is limited, so register today. #AI #GenAI #Manufacturing #Distribution

1

Has your manufacturing business been questioning how to transform your operations recently? My colleagues in Milwaukee are hosting a great event on the future of AI in manufacturing and distribution on Tuesday, June 25. Learn about the pivotal role of AI and Salesforce in driving growth, and delve into strategies for customer lifecycle management, from acquisition to retention. Space is limited, so register today. #AI #GenAI #Manufacturing #Distribution

2

1 Comment

Building Baselines issue 02 is out today! We had the pleasure to sit down with Katie Kaluzny, Deputy Director of Illinois Green Alliance, to discuss her thoughts on building benchmarking, BEPS policies, and imagining what the future may hold for these initiatives.  Please read more from Katie in the link below! https://lnkd.in/gTBQjESi #buildingbaselines #beps #energyefficiency

146

4 Comments

Habitat’s Jeff Head met with The Real Deal's Emma Whalen to discuss Illinois’ #AffordableHousingPlanningandAppealAct and the significant challenges it has faced over the past 20 years. As Vice President of Development at #HabitatAffordableGroup, Jeff highlights a crucial issue: the additional costs—both financial and emotional—developers face due to the extensive educational and political processes involved. As Jeff states, "Affordable housing gets a lot of people’s nerves agitated as it is. If there is a big education process and a significant political argument involved, it increases the financial cost and the emotional cost of going in and digging into an argument for a project that a significant portion of people don’t want." The recent amendments to the law aim to address these challenges by allowing local housing nonprofits and potential residents to appeal the denial of affordable housing proposals. These changes may provide a much-needed boost to affordable housing initiatives across the state. Read the full article to learn more about the complexities and future of #affordablehousing in Illinois: https://lnkd.in/g8WyKwyG #CommunityDevelopment #IllinoisHousing #Habitat

30

2 Comments

A proposed city ordinance would require owners of large buildings — including governmental entities like MPS — to benchmark facilities’ energy usage against peers. Urban Milwaukee writes about the potential positive impact of tracking energy usage https://lnkd.in/gu8NrEry #EnergyBenchmarking #SustainableCities #UrbanDevelopment #EnergyEfficiency #GreenBuilding #ClimateAction #SustainabilityMatters

1