Milwaukee March 2023 Key Take Aways!
Mike Bahr, Plunkett Raysich Architects: Turning away work due to staffing issues. LinkedIn analysis of active users, leads him to believe titles of experience (ie.-senior, junior, executive) will no longer be useful. Projecting a profitable year if they can maintain consistent and affordable staffing. Record referendums passing to drive up the bidding market.
Allen Witt, Terracon: IIJ, infrastructure bill, money is coming too quick, can’t keep up, losing out on contracts.
Steve Vitale – Valbridge Property Advisors: Following interest and inflation rates.
Gard Pecor, CoStar Group: Large projects, 300-400 + units, completely dead. Projecting seeing stalled/abandoned projects due to prices, municipal delay, and demand for larger projects. Company is at record construction with 5,000 units underway. Seeing that construction prices/economy (ie.-bulk material cost, decrease in home buying, surging demand in rental) are driving avg. development sizes up. Bigger unit projects with amenities are in demand. Projecting multi-family affordability to continue to be a rising issue with tenants struggling to afford prices and developers struggling to produce.
Lauren Zangl, ECS Limited: Regulations on wage disclosure to be transparent. Projecting businesses will no longer be able to restrict employees from discussing wages.
Tracy Luber, Wisconsin Economic Development Corporation: Projecting continued lack of housing leading to demand for condos to increase despite Milwaukee being predominantly rental. Despite workforce shortage, current staffing proves to be highly trained and possessing a strong work ethic.
Recent Comments