4.Can you explain how the Seattle construction boom has affected the price of BISD construction?
Competition for materials and skilled laborers continue to significantly impact construction costs. Overall market costs in the Seattle area are currently outpacing national trends. Articles in the Seattle Daily Journal of Commerce reported “disappointing” school bid results, with sub-contractor availability particularly challenging. The article continued to say, “General contractors and cost estimating firms continue to be surprised by the rate of cost increase in the past few months.”
Additionally, an article (May 29, 2018) in the Seattle Daily Journal of Commerce cited a new survey from Turner & Townsend which ranks Seattle as the seventh most expensive place to build in the world. This directly correlates to rising expenses for BISD, as the materials and skilled laborers needed for BISD projects come from the Seattle market.
The headline for an article (Jan. 15, 2019) in the Seattle Times stated Seattle still had the most cranes in America, and construction isn't losing much steam.