If you’re a resident of Indianapolis, it only takes a single look at the city’s skyline to see that the construction industry is teeming with life. This appears to be due, in part, to the state’s business-friendly climate and flourishing economy. In fact, the Indianapolis Business Journal reported that the metropolitan area is witnessing a late-year surge in demand for new houses.
Today, we’ll be taking an in-depth look at some of the top 2019 construction trends in Indianapolis, Indiana. Many of the most popular construction trends in Indianapolis are directly related to the state of the city’s economy. For this reason, we will also be examining changes in shifting demand, increased or reduced growth estimates, and effects caused by rising interest rates.
Technology acts as one of the primary factors inspiring big changes in nearly every industry, and this is especially true of construction. In order to keep ahead and experience maximum efficiency from current resources, much of Indianapolis’s construction industry has taken steps toward technology integration. Most notably, this includes the utilization of certain productivity tools to strengthen the efforts of employees.
According to the 2019 Sage Construction Hiring and Business Outlook Survey, which surveyed Midwest companies to organize a comprehensive view of the challenges and opportunities for growth they could expect in 2019, there was a lot of focus on incorporating technology to increase production in the construction industry. Overall, the study found that 29% of those surveyed were introducing technology that could help to reduce onsite work time.
Of the technology used specifically within Indianapolis’s construction industry, drones and 3D printing have proven to be effective examples of technology integration. Drones used on construction sites are helpful in supervising that all materials are placed properly. 3D printing has proven helpful in ensuring that materials are the appropriate size.
Greater Focus on Sustainability
Another popular construction trend in Indianapolis this year is focused around an effort to maintain sustainable practices within the construction industry. The U.S. Green Building Council’s (USGBC) Indiana branch maintained its Annual Day of Advocacy at the Indiana statehouse this March where key sustainability bills were introduced. These bills were focused around a variety of topics affecting the Indianapolis construction industry including water infrastructure, increasing the quality and efficiency of building infrastructure by practicing a licensed occupation, and redistricting standards.
Indianapolis has also continued an eco-construction based trend with the introduction of energy efficient housing models. While the most notable first example of this notable housing model in action was based in Fort Wayne, Indiana, the project was led by the Indiana Housing and Community Development Authority centered in Indianapolis. This points to a clear trend in Indianapolis’s construction industry focusing on greater sustainability.
This popular trend has clearly pushed forward with full force as evidenced by reports from Indianapolis’s Office of Sustainability. Citing the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) rating system, there has been an increase in building design, construction, and renovation projects based around environmental friendliness. You can find a complete list of every LEED-rated building in Indianapolis by visiting the Office of Sustainability’s website. With many environmentally friendly construction development projects in the works as of this year, it is likely that this top trend won’t be going away anytime soon.
Improved Safety Concerns
At the end of 2018, Indiana police crash data reported that 14 people were killed and over 650 people were injured within Indiana Department of Transportation (INDOT) work zones. This highlighted a need for improved safety concerns specifically within the road construction sector.
In July of this year, Indiana Constructors, INC (ICI) and INDOT teamed up to discuss the necessary steps to be taken regarding improved safety concerns in the construction industry. This resulted in plans to include INDOT representatives to all future ICI construction industry safety meetings. This is in an effort to relay any foreseeable trends back to utility coordinators.
Growth in Residential Construction
When examining the construction trends in Indianapolis in terms of the residential sector, new construction appears to be poised for growth and expansion for a fifth year. This shows a clear trend in the demand for new residential construction, and the housing market is likely to remain strong in the coming years.
So why is there such a continued demand for new residential construction in Indianapolis in 2019? There seems to be a notable imbalance between the continuously strong demand for residential construction and diminished supply. Due to the fact that there has been a considerable growth in new buyer demand and low available inventory of existing homes for sale, there seems to be an observable trend marked by the need for new construction. This suggests that the residential construction sector will continue to improve in 2019 and beyond.
Increased Commercial Construction Efficiency
One of the major trends amongst Indianapolis’ commercial construction sector is the effort to reduce waste and provide improved construction solutions. According to Inside Indiana Business, offsite commercial construction in particular has experienced growth in efficiency. This has proved impactful in reducing certain hazards that may stall progress in the commercial construction sector.
A recent study has shown that efforts to transition to offsite manufacturing within the commercial construction sphere has led to higher levels of productivity with the need for fewer workers and, in turn, reduced labor costs. In a year where it has been especially important to secure project budgets and deadlines, this has proven to be a method that strengthens collaborative efforts. With such a demand for new construction within Indianapolis, 2019 has turned out to be an overwhelmingly positive year for commercial construction.