Bozzuto Construction Senior Vice President, Kelly Cantley participated on Urban Land Institute’s (ULI) panel for the 2019 “Emerging Trends in Real Estate” forum, held in Baltimore, MD last month. Panelists presented and led discussions on how national office and mixed-use construction trends are impacting the mid-Atlantic region.

Cantley began her presentation by addressing costs. “The main factors contributing to the current escalation is labor shortage, tariffs, trucking regulations, and subcontractor capacity. Based on projections, we anticipate costs normalizing later in 2019.” She also touched on investments in new technology, noting that, “the construction industry has consistently been behind in investing dollars into technology, but we are ‘ripe for disruption.’ The use of off-site fabrication facilities, robotics, and drones to help improve site logistics and efficiencies is becoming more prominent.”