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Construction costs in Portland saw a modest rise of 0.72% during the second quarter of 2024, according to a report from Mortenson. The outlook for nonresidential construction is cautiously optimistic, with industry indicators pointing toward stronger market conditions in the near future. Although the availability of skilled labor remains a…

The affordable senior housing market is a critical segment of the real estate industry, addressing the needs of an aging population with limited financial resources. As the number of seniors continues to grow, so does the demand for affordable housing options that cater to their unique needs. Here’s a comprehensive…

Affordable senior housing is a hot topic and a trending niche in the commercial real estate industry. When embarking on a commercial real estate development project, particularly in specialized sectors such as affordable multi-family housing and/or senior housing, having an experienced advisor with experience in both can significantly enhance the…

At BC Group, we’re excited to see what impact this will have and applaud the efforts taking place to encourage affordable housing. In a significant move to support housing development in Portland’s pricier neighborhoods, the Multnomah County Board of Commissioners, on a recent Thursday, approved a pivotal amendment that broadens…

In case you missed it, the Portland City Council has recently taken significant steps to address the city’s housing development challenges through the Housing Regulatory Relief Project. While the impact remains to be seen, it’s a positive step to streamline the commercial project development process. This initiative seeks to reduce…

Converting office space into a residential unit involves several considerations, including providing the necessary amenities to ensure comfort and functionality for the tenants. The specific amenities you can provide will depend on the size and layout of the space, local regulations, and the preferences of the residents. Experienced project teams…

Many factors influence how people think about and decide where to live. Traditional considerations include job opportunities, cost of living, the housing market itself, climate, educational quality, family ties and more. However, some of these traditional factors are shifting and residential developers, designers and others involved in the industry need…

The multifamily construction segment is still excelling, according to a recent report, but a nationwide housing shortage persists. The housing shortage can be attributed to various factors, such as population growth, limited construction of new housing units, zoning restrictions, and increasing demand for affordable housing. How can multifamily housing supply…

City centers are struggling to fill the gap left by commuters who now come into the office a few  days a week, if at all. These employees took advantage of downtown businesses, from restaurants to dry cleaners, and without them, these businesses are struggling or closing.   Converting vacant office buildings…

According to PricewaterhouseCoopers International Limited (PwC) and the Urban Land Institute’s Emerging Trends report, most commercial real estate professionals are reasonably optimistic about longer-term prospects.  While two straight quarters of declining gross domestic product indicate that the U.S. economy entered recession in the first half of 2022, other economic metrics…

Time management is a very challenging aspect of managing business, let alone our lives. Managing your time is the best way to get things done throughout the day but never feel like you are falling behind. By staying ahead of the challenges that come from being short on time, project…

Every project has its challenges. The bigger the project, the bigger the challenge. The fact is that large construction projects tend to have more headaches than others, particularly because of all the planning and management that has to go in each aspect. On a smaller, residential project, the general contractor…

When a multistory building is being constructed, a small but crucial detail are the anchors that must be installed for window washers to anchor to. By law from OSHA, these anchors need to support 5,000 pounds in any direction. But who is responsible for planning for these anchors and ensuring…

There’s no doubt that electric vehicles are gaining in popularity and can be an important component in lessening greenhouse gas emissions and meeting clean air standards. But it’s a classic chicken and egg scenario. More cars need more charging stations and some people may be hesitant to purchase them without…

Green building is an innovative approach to creating buildings in a sustainable way that minimizes the environmental impact of construction and design. As technology and construction practices become more advanced, green building has become increasingly popular with builders, architects, and homeowners alike. In this blog post, we will discuss the…

The construction industry is one of the most dynamic and rapidly evolving industries today. This can be attributed to the use of new techniques, materials, and technologies that are constantly being developed. One such example of these developments includes prefabrication, modular construction methods, and 3D printing.  Prefabrication is a process…

One of the most intriguing new trends in the construction industry is the use of living building material. And while it’s still very young, it’s gathering momentum. Living building material refers to materials used in construction or industrial design that behave in a way that resembles a living organism. Examples…

Almost 5% of the U.S. workforce is in construction, or about 7.5 million people. And the U.S. construction industry is vast – valued at more $1.6 trillion in 2021. In fact, construction is the 12th largest industry in the country and accounts for approximately 4.3% of the U.S. total GDP.…

If you hire an unbiased construction advisor before you’re ready for renovation at a property, you may be able to take advantage of several benefits. Questions may be raised that a construction advisor can help you with. These can include: What is the problem to be solved and is there…

Keeps your overhead down – eliminating the need to add full-time staff for a project If your projects only come periodically or you’re slower right now, it doesn’t make sense to staff up just to trim staff when a project is over. Simply find a reputable development and construction manager…

Looking around for your next development project? The right company that serves as a development and construction advisor could be of assistance long before it’s time to turn a shovel. They can help you identify opportunities in various industries and obtain existing property information from relevant jurisdictions. They can also…

Congratulations! You’ve identified your next project with BC Group, your top real estate construction advisors. Now you need to identify the team that will help you bring your vision to life. Before construction begins, your team may be helping with a variety of tasks including site selection, zoning, design, setting…

By working smart, and having a great team with good communication and comprehensive checklists, the most common contractor errors can be avoided to keep your projects and people safe, productive and profitable. The goal is always to limit/eliminate accidents, ensure budget and timelines stay on schedule and create a positive…