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Home improvement is booming again -
March 20, 2015 by
Mr HomeBuilder
Strap on the tool belt and grab a power drill. More than half (57%) of homeowners have a home improvement project on their to-do list this year. And were not talking minor touchups or a quick coat of paint. More than one-third (36%) of homeowners plan to spend $5,000 or more this year on renovations. And 18% are stepping up and knocking more than $10,000 out of the park to dust off the old home plate, according to a Harris Poll conducted for SunTrust.
The planned projects are near evenly split between home updates (52%) and repairs (49%), with the most popular improvements including:
George Peters/Getty Images Contractors remodeling kitchen
And while in past years tapping a home equity loan was the go-to method to fund such improvements, most consumers (59%) say theyll raid their savings accounts instead. Other homeowners, buoyed with growing confidence in the economy, will pull out their credit cards (30%). Home equity lines of credit are favored by just 9% of those surveyed, while unsecured home improvement loans will fund the projects for 7% of the respondents.
A recent study by the Joint Center for Housing Studies at Harvard University says were entering boom times in home remodeling, with sales approaching $300 billion the highest level since 2007.
While homebuilding is many years away from a full recovery, the home improvement industry could easily post record-level spending in 2015, the report says. Baby Boomers accounted for almost half of all remodeling dollars spent in 2013 but the nations largest generation is poised to make an even greater impact, according to the Harvard experts. The key to future market growth is the Millennial generation," the report said. "While currently lagging previous generations in forming households and buying homes, the Millennials will eventually give a dramatic lift to home improvement spending. More immediately, the growing presence of Millennials in the rental market is encouraging property owners to invest in updates to their units.
And Millennials are prone to knock out a wall or two. In 2013, homeowners under 35 put a third of their home improvement budget into DIY projects, nearly double the amount spent among all owners.
It stands to reason that urban homeowners shell out the most in home upgrades, as do residents on both coasts, where higher home values -- and incomes -- lead to greater home improvement investments. The Harvard study says that owners in the 50 largest metros spent an average of $3,000 on home improvements in 2013.
But are major updates a wise investment? The head of the Appraisal Institute, the nations largest professional association of real estate appraisers, says these days less is more.
Homeowners will generally find that simpler, less expensive projects typically have the best return on investment, Appraisal Institute president M. Lance Coyle tells MainStreet. Some examples can include replacing a roof, garage door, entry door or vinyl siding. Other projects that homeowners might consider are installing a manufactured stone veneer, replacing windows or investing in minor kitchen remodels.
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Home improvement is booming again
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We are so looking forward to our trip back Down Under in March, 2015 to teach a 7 day workshop on Engas straw bale house! Not only will this build teach participants what they need to know in order to bale their own house, but it will also serve as a testing grounds for theArchitecture []
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The Santa Monica City Attorneys Office said it had successfully concluded the criminal prosecution of the owner of a commercial office building, located at 2105 Colorado Boulevard, for Fire and Building Code violations.
The City Attorney's Office said the owner was charged with rendering fire protection equipment inoperable (such as fire sprinklers and fire alarms) and engaging in significant construction work without permit.
The City of Santa Monicas Building Official, Ron Takiguchi and Fire Marshal, Eric Binder, jointly referred the case to the City Attorneys Office, after a routine fire inspection revealed that the fire alarm and fire sprinkler systems had been compromised or disabled throughout the building and substantial construction had occurred without any permits.
The Fire Marshal and Building Official concluded that these conditions seriously jeopardized the life and safety of the buildings many occupants and the Citys Fire Fighters.
On March 9, 2015, the owner pled no contest in the criminal case, according to the City Attorney's office. The City Attorney's office added the owner was placed on 12 months of probation and ordered to:
-- Perform 30 days of court approved community service.
-- Pay $10,000 in restitution to the City to cover City investigative costs.
-- Pay an additional $10,000 to the Building and Safety and Fire Prevention Training Fund to train and educate California Fire and Building & Safety personnel.
-- Pay hundreds more in mandatory court fines, costs and fees.
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2105 Colorado Blvd. Office Owner Prosecuted For Fire, Building Code Violations
The Kansas Department of Revenue will move into a downtown building after renovations are completed.
Downtown Topeka Inc. announced Wednesday that the Department of Revenue had signed a 25-year lease with the owners of the Scott Building, 120 S.E. 10th. The department currently is housed in the Docking State Office Building, which the state plans to tear down.
Jeannine Koranda, spokeswoman for the Kansas Department of Revenue, said the taxpayer assistance center, customer relations, collections, business tax, motor fuels tax and civil tax enforcement divisions will make the move. She said the timeline will depend on construction, and the department still is looking into parking arrangements.
The downtown building, known as the Scott Building, was constructed in 1926 for Cameron Motor Company, which sold Ford and Lincoln vehicles. Topeka banker C. O. Blevans sold the building in 1941 to investors Lloyd Scott, Jerry Puffer and Chester Wahle. Lloyd Scott became sole owner in 1950, after his partners died. The Kansas Department of Education used the building from 1967 until December 2013.
Scott Gales, a principal member of Architect One, said all three floors of the building are being gutted. It will need new wiring, plumbing and climate control, and there are plans to build an addition in part of the adjacent parking lot for a new entrance with an elevator and stairwell that will reach all three floors, he said.
The renovations also will restore the building to something more like its original appearance, when it had larger windows, Gales said.
It was due to be refurbished and itll be nice to take it back to the original look and charm, he said.
Gales said they hope finish demolition and have construction underway by June. The goal is to have the building ready for the Department of Revenue by the end of the year.
KS Commerical, Denison State Bank and Murray and Sons Construction also are part of the renovation plan. Mike Gibson, vice president of Murray and Sons, said the building was in good condition.
Its bones are great, he said. Amazingly, the concrete work done in 1926 is in almost mint condition.
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Department of Revenue tax offices to move into downtown building
The 10,000-square-foot building at 2310 60th St. Court W. in Bradenton will house Manatee Gynecology. COURTESY RENDERING
BRADENTON - Manatee Gynecology -- an all-female group of board-certified doctors -- plans to construct a 10,000-square-foot medical office building here on 60th Street Court W.
The general contractor on the $1.45 million project will be Sarasota's Satterfield & Pontikes Construction.
The one-acre site at 2310 60th St. Court W. in Bradenton will eventually include offices, examination rooms, nurses' stations and a laboratory in a one-story building.
The designer, Wolfe Architects of Tampa, plans a building with a modern architectural style and "extraordinary exterior design elements."
"Exterior masonry walls will vary from the typical flush surface usually seen on buildings," Satterfield & Pontikes said. "The use of stucco-finished, eight-inch concrete blocks in most areas of exterior walls, along with strategically positioned 12-inch blocks finished with decorative porcelain tile, will provide an interesting visual effect."
The building will be constructed with a structural steel frame and thermoplastic polyolefin roofing. Interior finishes will include a granite reception desk and nurses' station. Aluminum canopies at the front entrance and on windows "will provide both functionality and visual appeal."
The project is in final stages of design, and groundbreaking is expected in early May.
Satterfield & Pontikes is expected to complete construction in November. The firm is now nearing completion on the AllCare Medical Plaza in Bradenton.
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Medical building now in final design phase
By AJ Moser | Published 50 minutes ago
MSU Federal Credit Union will move ahead with the planned construction of a new administrative building in East Lansing after being approved by City Council this week.
During the March 17 meeting, a public hearing was brought forward to have City Council approve the construction of a new 187,300 square foot, three-story office building. MSUFCU announced plans to construct the new building in the fall, but the plan has since increased from 186,350 square feet.
April Clobes, president of MSUFCU, said construction on the administrative building will begin in approximately two months when they receive their building permits. Depending on weather and scheduling, the building is expected to be open in early 2017.
The expansion should positively impact our members as the building is needed for the growing number of employees that provide service to the members, Clobes said regarding the reasons for expansion. The call center, eServices, and Information Technology departments will be located in the second building. We are seeing continuous increases in our remote service delivery as we grow members.
The building will be built north of the current headquarters, in a more accessible location.
Mayor Pro Tem Diane Goddeeris spoke in support of the new location before City Council voted on the proposal.
We are thrilled that they have their headquarters in East Lansing and that they want to expand while respecting the community, Goddeeris said.
The vote passed unanimously, as Mayor Nathan Triplett called MSUFCU one of the largest employers and taxpayers in East Lansing, and a financial example for local businesses.
MSUFCU currently provides credit seminars to MSU students and East Lansing citizens, and will improve these services when the new building is completed.
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MSUFCU approved for new three-story office building
HARTFORD Conversion of a long-vacant yet prominent building into apartments could begin in early summer in the Frog Hollow neighborhood now that a key piece of funding has fallen into place.
The State Bond Commission has approved $7 million in taxpayer-funded loans from the Capital Regional Development Authority for a $35 million makeover of the former Hartford Office Supply Co. building at Capitol Avenue and Flower Street.
Once construction begins, it would take about 15 months to complete the project, said Roberto Arista, a principal in Dakota Partners of Waltham, Mass., the developer.
The project is expected to add 112 mixed-income rental units and street-level commercial space to the neighborhood.
Arista said the building's location near the state Capitol and in an area where there are state office buildings will help fuel demand.
"We're hoping to capture a lot of those state office workers," Arista said. "It's close to downtown. You can walk across Bushnell Park."
The plans call for 89 market-rate apartments and 23 rentals for low- and moderate-income families. Rents for the one- and two-bedroom apartments will range from $900 to $1,250 a month. Rents for the "affordable" units will be about $100 less a month.
Rents for the market-rate units are about 20 percent lower than the apartments now under construction downtown. Parking will be provided on a lot in the back of the building, but it hasn't been decided if that will be included in the rent, Arista said.
Dakota recently completed the conversion of the former Professional Building at 179 Allyn St. into 63 one-bedroom apartments. Those units began leasing in late February. So far, 12 apartments have been leased and seven more have prospective tenants, Arista said.
The Hartford Office Supply building, vacant since 2005, is in the Frog Hollow Historic District. Its exterior will be renovated to preserve its appearance
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Funding In Place To Create Apartments In Vacant Building Near Capitol
DIY NETWORK RENEWS FIVE POPULAR RENOVATION SERIES
New York [For Immediate Release - March 16, 2015] DIY Network announced the renewal of five popular renovation series, including season six of The Vanilla Ice Project (Vanilla Ice), season eight of Kitchen Crashers (Alison Victoria), second seasons of Barnwood Builders (Mark Bowe) and Sledgehammer (Jason Cameron), as well as the 14th season of Yard Crashers, now starring Chris Lambton who tackles challenging backyards for a second season.
"If you want to see experts and homeowners swinging hammers, knocking down walls and getting dirty, then DIY Network is the network for you," said Allison Page, general manager, HGTV and DIY Network. "With programs like the Crashers franchise and The Vanilla Ice Project, we've built a successful network that delivers the upscale do-it-yourselfers that advertisers want to reach."
Pop culture icon, "cool hunter" and home renovation expert Rob VanWinkle, a.k.a Vanilla Ice, returns in The Vanilla Ice Project to showcase the latest in home technology and design as his crew remodels another outdated Florida mansion one floor at a time. Demolition is the name of the game in Sledgehammer when host Jason Cameron surprises homeowners with a sledgehammer and permission to trash and remodel their most-hated rooms, while Barnwood Builders follows Mark Bowe and his crew of West Virginia master craftsmen as they salvage wood from antique barns and cabins to create stunning modern homes.
Meanwhile, more kitchen and outdoor renovations are on the way with fresh episodes from the Crashers franchise. Homeowners get a major surprise when they run into designer Alison Victoria and her Kitchen Crashers crew at the local home improvement store. In each episode, one lucky shopper hands over their house keys so Alison and her team can execute a total kitchen transformation. In addition, landscape expert Chris Lambton is on the lookout for home improvement shoppers who are game to get a total backyard makeover in new episodes of Yard Crashers.
ABOUT DIY NETWORK
DIY Network, from the creators of HGTV and Food Network, is the go-to destination for rip-up, knock-out home improvement television. Currently in more than 58 million homes, DIY Network's programming covers a broad range of categories, including home improvement and landscaping. The network's award-winning website, DIYNetwork.com, consistently ranks among America's top home and garden Internet destinations for entertaining videos, home improvement advice, step-by-step instructions, message boards, blogs, an interactive program guide and more. Viewers can also become fans of DIY Network and interact with other home improvement enthusiasts and do-it-yourselfers through Instagram, Facebook, Pinterest and Twitter. Headquartered in Knoxville, Tenn., DIY Network is owned by Scripps Networks Interactive, Inc. (SNI).
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DIY Network Renews Five Popular Renovation Series
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