A common sentiment we seem to keep hearing is, "We're holding on any new development until construction costs come down." And while we know it will be fantastic when that day comes, the question of when that will be hangs heavy. Recent data tells us… something, right?
Unfortunately, we’re not seeing much relief anywhere right now. Things don’t seem to be getting worse, but they’re not getting better either. It seems that we are all still waiting for that “bottom falls out” moment, which hasn’t happened yet and some construction economists are backing off on predicting when it will. Predictions have shifted a possibility of the “Soft Landing”, which doesn’t really help prices. Recently The Douglas Company attended National Construction Financial Management Association (CFMA) Conference where their spoke, with the sentiment "It's going to get worse before it gets better," and "Recessionary conditions will prevail at some point over the next... Read More >
Over the past few years, there have been frequent discussions with our clients related to what we are seeing in the market when it comes to material and subcontractor pricing.
Since the pandemic, material pricing has been an extremely volatile part of our industry. These changing conditions have required everyone to adopt various strategies to get deals done. These strategies range from forms of procurement to combating escalation and much more.
As you can see in the table below from US Bureau of Labor Statistics, pricing is up substantially from where it was pre-pandemic. Overall project costs are up over 34% depending on type of construction. The table also indicates that continuous inflation has had a heavy impact on construction costs. According to the US Bureau of Labor Statistics, the dollar had an average inflation rate of about 5.53% per year between 2020 and today. The result has been a... Read More >
Holland, Ohio, November 29, 2022 – John Arthur Flats located in Cincinnati, Ohio is the first LGBTQ+ friendly 55+ affordable senior housing community in the city of Cincinnati. The modern building contains 57 units offering studio, and 1- and 2-bedroom apartments. The Douglas Company was selected as the general contractor for the $9.4 million development. This is the second project working with developer, Pennrose, LLC.
New Republic Architecture created a unique design with charcoal metal panels and a custom brick blend for the exterior. The 50,000-square-foot space consists of a 3-story building with elevator service. Impressive amenities include a fitness center, large community room, wellness center, on-site laundry room, a dog park, and an outdoor terrace. On-site social and medical services geared toward LGBTQ+ needs are also available to residents.
“We are proud to be part of this collaboration with the Northside’s development arm, Northsiders Engaged in Sustainable Transformation... Read More >
Holland, Ohio, October 20, 2022 – The Douglas Company, an industry-leading general contractor, is proud to partner with Discovery Management Group to build a revolutionary concept in senior living at Discovery Place at Celebration Pointe. Located in the heart of Gainesville’s Celebration Pointe development, this Experiential Living community will provide unique amenities and programming aimed at socialization, health, and fitness. Completion is expected in early 2024. This is the third project for Discovery Management Group that will have been constructed by The Douglas Company.
Architectural Concepts, Inc. designed flexible spaces that will feature 180 one- and two-bedroom smart apartment homes including dens, a nearly 4,000-square-foot rooftop lounge and entertainment area, a state-of-the-art fitness center and workout studio featuring on-demand fitness programs and a personalized fitness coach, hospitality-style gathering areas, a tech bar and coffee lounge, a grab and go bistro, a bark park and more. Residents will have... Read More >
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Holland, Ohio, August 18, 2022 - The Douglas Company is excited to announce the beginning of construction on The Grove at Countryside, a new resort-style senior living community, located in Clearwater, Florida. Developed by The Vestcor Companies, The Douglas Company will serve as the general contractor for the $33.9 million development.
Designed by Gary B. Coursey & Associates, Architects Inc., The Grove at Countryside is a 144,841 square-foot senior community that will include 32 independent living, 72 assisted living, and 22 memory care units. The amenity-rich environment will include a bistro, dining rooms, pub bar, activity rooms, art room, libraries, piano lounge, hair salon, nail salon, fitness room, exterior porches, rentable storage, and garage spaces. Outdoor residents will enjoy the beautifully curated courtyards, memory garden, dog park, and putting green. Construction is scheduled to be completed in spring 2024.
“The Douglas Company team is proud to collaborate on a... Read More >
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Holland, Ohio, July 14, 2022 - The Douglas Company has recently completed construction of The Sagefield, a new multifamily residential development located in the heart of Jacksonville, Florida. This luxury residential community includes 234 spacious one-bedroom, two-bedroom, and three-bedroom units in two 4-story apartment buildings and two 2-story carriage homes with tuck-under garages. The Douglas Company served as general contractor for the $28 million upscale development.
Real estate developer Chance Partners, LLC chose Dynamik Design Partners as the architect for the 274,590 square-foot space. The architecture features a contemporary farmhouse design, with gabled rooflines, vertical siding, and a striking dark red, charcoal, and white color scheme. Apartment upgrades include stainless steel appliances, granite countertops, Smart Home technology, sleek wood-like flooring, 10-foot ceilings, and upscale finishes.
“It was a pleasure working with Chance Partners to provide such high-quality residential housing to northern Jacksonville,” said Brian Carter, project manager for The Douglas Company.... Read More >
Holland, Ohio, July 6, 2022 - Harper’s Station is a new state-of-the-art senior living community in the Gainesville, Virginia area. The 55+ retirement community offers spacious, well-appointed independent living, assisted living, and memory care apartments along with residential cottage homes and a wide variety of amenities and services. The Douglas Company served as general contractor for the $44 million upscale senior living community.
Co-Developers, Bourne Financial Group and Sage Development Group, selected John Marc Tolson Architecture to design the 192-unit community. The 244,400 square-foot Harper's Station consists of a 3-story main building and three villa buildings comprising seven units. The amenity-rich community offers a variety of options for residents to enjoy, including a heated indoor swimming pool, grand dining room, coffee shop, bistro, library, salons, fitness center, game room, yoga studio, putting green, exterior fireplace, fire pits, and a gazebo. Architecturally, all buildings provide 360º architectural treatments that include high-quality... Read More >
Holland, Ohio, June 21, 2022 - The Douglas Company is pleased to announce that Andrew Barger, Rey Rodriguez, and Matthew Upton have all been promoted from project estimator to lead estimator. These well-deserved promotions come as the company’s preconstruction departments are working harder than ever to keep projects on track in preconstruction through a challenging market, and getting more creative and proactive in keeping project prices under control.
As lead estimators, these professionals will manage the entire preconstruction process from concept to contract including taking the lead on preconstruction calls, meetings, and presentations. Along with this huge jump in responsibility, they will continue to meet the needs of our clients and work with the assembled team to keep projects on time and within budget.
“We are proud to promote Andrew, Rey and Matthew as lead estimators,” said Peter Douglas, president of The Douglas Company. “Our company is committed to providing quality preconstruction... Read More >
Holland, OH, June 1, 2022 – The Douglas Company, an award-winning general contractor, is pleased to announce that construction has begun on the $18.2 million Hearthstone Wildwood senior living community in Oxford, Florida. Developed by Wildwood Senior Housing RE, LLC. and situated on the doorstep of the world-famous 55+ retirement community “The Villages”, Hearthstone will be comprised of 36 memory care units and 94 assisted living units for a total count of 130 units.
Forum Architecture & Interior Design Inc. designed the 83,000 square-foot complex with a two-story assisted living building and a one-story specialized memory care facility. Welcoming in-house amenities will include a salon, fitness center, library, theater/multipurpose room, bar/bistro, private dining, and multiple courtyards landscaped to enjoy the beautiful outdoors. Construction is expected to be completed in the spring of 2023.
“We are excited to be working with the owner, Wildwood Senior Housing, and their partner, Nvision Development, to bring... Read More >
As we move into the rainy season, it’s important to revisit best practices of protecting wood from the elements during construction. Previously, we used to rely on just-in-time deliveries which would limit the amount of time our framing materials were subject to the weather prior to being covered up. With today’s market environment, we find ourselves ordering materials early and storing them on site so that we can be productive as we start building and not run out of material along the way. This has led to lumber being stored for longer periods than we are used to. It’s important that this is taken into consideration as we construct our projects and that we don’t allow deterioration of our building products to occur.
First, develop a plan early to deal with these issues in order to reduce the risk of mold and product deterioration. Ensure that your storage area is well... Read More >
Holland, OH, May 5, 2022 – General Contractor, The Douglas Company, is proud to announce the beginning of construction on its ninth project with owner, Kaplan Development Group, LLC. The $15.9 million, All American at Tinton Falls is a 58,000 square-foot, 58 unit assisted living and memory care community in Tinton Falls, New Jersey.
Designed by EGA Architects, All American of Tinton Falls will offer quality senior living with a vast array of amenities including an interior courtyard, double-sided fireplace, salon, beauty parlor, bistro, and media room. Construction completion is scheduled for June 2023.
“The Douglas Company is honored to once again work with the professional team at Kaplan Development,” said Dylan Lewis, assistant project manager for The Douglas Company. “The All American communities are uniquely designed with senior independence in mind and we are proud to deliver this distinctive project to Tinton Falls.”
The Douglas Company
The Douglas Company is headquartered in Holland,... Read More >
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Everywhere I go people are asking what’s going to happen with construction prices, and they are right to ask. I visited with a prospective client this month and he told me that construction prices on his prototype increased 46% in two years, which was shocking to him and a little surprising to me. We are tracking prices in our Florida office and our records indicate costs are up 30% in 14 months, 2% per month, so I guess I shouldn’t have been surprised. Everywhere we look subcontractors are backing out of quotes and/or raising prices, and even once under contract don’t always honor prices. Materials and labor availability is a whole other issue. It’s hard to believe these increases can continue, but I don’t see any signs of relief.
The above doesn’t make our jobs any easier or more enjoyable. We hate giving bad news to our clients on costs, but... Read More >
Holland, OH, April 5, 2022 – The Douglas Company proudly announces the completion of Maumee Pointe, a new assisted living and memory care community developed by Sage Real Estate Development of Rochester, New York. The Douglas Company served as the general contractor for the $13.6 million community conveniently located at Side Cut Crossings in Maumee, Ohio.
Designed by Davison Smith Certo Architects, Inc., the new Maumee Pointe is a 69,310 square-foot assisted living and memory care community consisting of a single-story building including 22 memory care units for individuals with dementia-related conditions and a two-story assisted living building offering 58 one-bedroom suites for those needing assisted living services. The new community boasts numerous upscale amenities, including an arts and crafts area, spa, chapel, bistro and dining area, wellness center, sunroom, and lounges, two exterior courtyards, a fire pit, and a greenhouse.
“As The Douglas Company continues to fulfill the demand for senior... Read More >
The Douglas Company has announced the completion of construction on The Grove at Trelago, a new assisted living and memory care community located in Maitland, Florida, along Maitland Boulevard, east of I-4, with the elegant backdrop of Lake Charity. Developed by The Vestcor Companies, The Douglas Company served as the general contractor for the $21.7 million community.
Designed by PQH Group Design Inc., The Grove at Trelago is a 113,989 square-foot assisted living and memory care community comprised of 96 assisted living and 20 specialized memory care studios for residents with Alzheimer's, dementia, and... Read More >
Earlier this month several of us from The Douglas Company attended the annual NIC Fall Conference, held this year in Houston, Texas. It was encouraging to see more than 2,500 senior living professionals in attendance (in person) and optimistic about the future of the Senior Living Industry post-COVID.
NIC has also released the 3rd Quarter 2021 NIC MAP Data, which shows that demand in the 3rd quarter rebounded with the strongest quarterly increase since NIC began reporting the data in 2005. Overall seniors housing occupancy increased to 80.1%. Still 7.3% below pre-pandemic occupancy, but finally trending in the right direction. Additionally, one statistic we heard is that the age cohort for senior living will double every 5 years between 2020 and 2040. That is a lot of new seniors who will need some type of senior housing!
One topic that seems to be on everyone’s mind is “Active Adult”. ... Read More >