There is an ongoing discussion that we’re in the middle cycle of a construction boom. The demand for housing and commercial product is near an all-time high. Even with the challenges of material cost increases and labor shortages that have driven up project costs, contractors are busier than ever. RiverRock is keeping a close eye on the wild card of import tariffs now levied on foreign steel and aluminum. There’s a lot of speculation on how much costs will be impacted. Industry specialists are predicting material cost increases of as much as 10% to 20%! Landlords and developers are now faced with the question to pass along the increases or absorb them as a cost of business.
As for the commercial property manager, our role in managing cost and value engineering have never been more important. RiverRock understands how to navigate these challenges and the importance of getting the job done within budget, ahead of schedule and starting the rental clock. Give us a call and see how we can help you achieve your goals!