Gateway Development Commission (GDC)’s Post

Building and building it well!

HAPPENING TOMORROW: More highway construction is slated to begin in Denison, as one of the country’s hottest housing markets prepares for more historic growth! TxDOT says it closing down part of the US-75 frontage roads as it prepares for a major construction project in August. People who are used to Denison know that construction has become something of a mainstay as more and more developments are slated for the area. For our investors who aren’t as familiar with the area, it’s important to know that US-75 is a MAJOR highway in Texas, and specifically in North Texas. This is the highway that’s soon going to become I-45 that’ll span from Houston to the Oklahoma border (and perhaps farther as the years go by!). If you’re interested in learning more about why Denison is such a great market to invest in, check out our new market data page for Denison: https://conta.cc/3v1zHSK, or watch a video tour of the area at https://lnkd.in/gSbw5eA2 READ MORE: https://lnkd.in/gJ6trVRr

Gov. Kathy Hochul’s order to put the MTA’s congestion pricing plan on ice threatens $15 billion in funding for transit construction projects, raising the possibility that New York City’s subways could fall into a state of disrepair and sending service back to the bad old days. State lawmakers passed congestion pricing in 2019 in response to the “Summer of Hell” two years prior, when commuters faced seemingly constant service delays. The law required the tolls to bring in $1 billion annually, which in turn would finance $15 billion of loans to pay for transit construction projects. In the ensuing years, the MTA planned an array of transit construction projects that depended on that revenue. In February, MTA officials released a report stating that without the funding, the agency “runs the risk of falling behind on repair work necessary to update aging infrastructure and assets critical to the reliability of the system.” https://lnkd.in/e8rBu4Bn

From the Soben blog - a timely and insightful view from Andrew Gallacher on how ongoing delays and cancellations are impacting the UK construction sector. #HS2 #InfrastructureUK

You may have heard about the I-70 project we’re investing in…$2.8 billion to rebuild and expand I-70 to six lanes across our entire state from St. Louis to Kansas City. This project will create business and job opportunities for Missourians everywhere, no matter what part of the state you live in. We know some of our critics have been trying to stir controversy, saying we’re spending all this money on I-70 and nothing on I-44. Well that’s simply not true. So let me set the record straight… WE ARE funding the I-44 widening project from Glenstone to Route 65. WE ARE funding the I-44 environmental study for a six-lane widening and improvement plan along the entirety of the interstate, which must be completed before any project can move forward. And WE ARE making critical interchange improvements and bridge replacements along I-44. That’s more than $125 million for I-44 and to lay the groundwork for larger projects in the future, including six lanes. In total, over the next five years, the Springfield metro area alone is receiving nearly $500 million in infrastructure projects. · 536 miles of road and nearly 60 bridges will be repaired or replaced. · 570 miles of road and nearly 45 bridges that have already been improved from the nearly $250 million our Administration has invested over the past five years in the Springfield area. Things are looking good for the Southwest region and everywhere across our state… AND WE ARE NOT DONE YET.

New York Gov. announces $483 million for BRIDGE NY program to make improvements to #bridges and #culverts across the state. Read the full story at the link below! #news #usnews #construction #engineering #constructionindustry #transportationproject #infrastructure

Make tracks towards the weekend with our weekly roundup of this weeks construction news in our #FridayFeed! 🛤 Discover new tracks with us this week as the completion of HS2’s Birmingham New Street station £7.8M roof upgrade, and third times the charm as we see proposals for £1M investment into three new West Midlands stations, and in the North, Network Rail becomes one of six to win £229m minor rail works deal. ⚡ Energy has the government in talks over purchase of Wylfa nuclear site in Anglesey, plus a big week for SSE creating £20.5bn of investments through SSE and Greater Manchester's green energy partnership, as well as powering up the new £86M Alyth substation. 🚗 HS2 once again thriving in the headlines as the M42 bridge demolished for HS2 works makes way for the construction of the new high-speed line. Transport for London has appointed Costain for refurbishment works on two major London highway structures, and across in Essex councils are injecting a £12M funding boost for Highways. 🏘️ Huge property numbers this week with Tritax Big Box agreeing £4bn merger with UK Commercial Property REIT, Galliford Try and Seddon scoop places on CHIC mega-framework for housing worth more than £3bn, and in alternative property news, residential investor Re:Shape is seeking an institutional investor to forward-fund £885m pipeline to build co-living student accommodation.  💧 Water generates £300m framework with Thames Water which will support future infrastructure, plus United Utilities seeks contractors for £800M minor works framework , and up in the North, £5.6M of funding has been awarded £4.5M for flood alleviation scheme. All these stories and more by clicking here ➡️ https://lnkd.in/dN9fPKRu Don't forget to tell us how you like your construction news in the comments box below. #conscruction #communication #news #industry #civilengineering 

PHOENIX /June 21, 2024 /AZNOT -- The State Transportation Board has approved the 2025-2029 Five-Year Transportation Facilities Construction Program, which emphasizes pavement and bridge improvements and expanding several key #highways. The final 2025-2029 Five-Year Transportation Facilities Construction Program is available for review at azdot.gov/FiveYearProgram. The $8.2 billion program puts a major emphasis on improving highway pavement and bridge infrastructure throughout greater Arizona, which encompasses areas outside of Maricopa and Pima counties. The plan provides more than $2.5 billion for these high-priority improvements during the next five years. This amounts to an average investment of approximately $500 million per year to preserve, rehabilitate and replace pavement and bridges. The program provides a total of $800 million over five years for projects that improve highway safety, efficiency and functionality, such as intersection improvements, smart technology, freight mobility and signs, signals and lighting.

At a national level, the 60 percent transportation construction price increases we've seen in the last few years (see https://lnkd.in/e5EiwVxJ) are similar to those leading up to the Great Recession in the mid 2000s and in the 1970s due to oil crisis/energy crisis. While the rate of increase has thankfully fallen substantially in the last year, transportation construction prices have plateaued and experts do not anticipate they will to decline back to previous levels. Most experts believe we are in a "new normal" because when you unpack the causes of price increases we see labor being a significant cause. While short term fluctuations in the labor market are likely, demographic trends of declining birthrates and lower immigration will likely continue to put pressure in the labor market in the medium and long term. The cost pressure are anticipated to put a strain on our existing funding mechanisms for transportation the the next few years. Below is a good article about the transportation construction price situation in Michigan where we have seen lower price increases than nationally the last few years but have similar resulting challenges for the future: https://lnkd.in/eZhbb5BY

Regional officials have successfully secured a $6.8 billion federal funding agreement to advance the long-delayed Hudson Tunnel project, a critical $16.1-billion infrastructure overhaul linking New York and New Jersey. This project aims to rehabilitate a deteriorating, century-old rail tunnel and construct a new one, crucial for the Northeast Corridor, Amtrak's busiest route with over 2,200 daily trains. The federal funding agreement, marking a significant milestone, ensures the project proceeds regardless of potential changes in the Oval Office following the upcoming presidential election. The Gateway Development Commission, responsible for the project, will commence major construction this month, targeting completion by 2035. At a news conference, Kris Kolluri, CEO of the Gateway Development Commission, heralded the agreement as the "point of no return" for the project. Senate Majority Leader Chuck Schumer emphasized the project's reality, likening the effort to a marathon. The Hudson Tunnel project is vital not only for regional connectivity but also for the broader U.S. economy. The existing tunnel, compromised by Superstorm Sandy in 2012, will be replaced, and a new underwater tunnel will be constructed. The project's cost has escalated to $16.1 billion, 14% higher than previous estimates from 2021. With 70% of the project's funding covered by federal grants, contributions also come from New York, New Jersey, Amtrak, and the Port Authority of New York and New Jersey. The Hudson Tunnel project is a crucial infrastructure initiative essential for the resilience and efficiency of the Northeast Corridor, a critical artery for passenger and freight rail traffic in the United States. The successful funding agreement underscores the importance of federal and regional collaboration in addressing infrastructure challenges and securing economic stability and growth. The project's advancement signifies a major step forward in modernizing America's transportation infrastructure. #HudsonTunnel #Infrastructure #Amtrak #NortheastCorridor #FederalFunding #GatewayProject #NYNJ #Transportation #EconomicGrowth #SuperstormSandy #RailInfrastructure https://lnkd.in/ehkMA2_y