Richmond construction industry

[Downtowner]

So I was thinking about this with the way the construction industry has been over the last several years. I wanted to make this thread for construction trends and as well as the way it ties in with new development and talk about the cost of materials and just the overall industry in general. 
 

I want to say that I have notice a few projects here and their being halted due to cost of materials and cost of labor. One obviously being the genworth new hq. But overall I will say the industry seems to be getting tougher depending on what trade you’re in and what side of the trade your in. If you deal with new construction install. The more the interest rate goes up the worse it will get for construction. We layed off 30 plumbers the other day I heard. It’s getting a little nerve racking for some of us. But if you have anything you know of or can think of construction wise around the Richmond area please share. I think this is great to have one here to tie in with the development side of projects going on. 

[I miss RVA]

3 hours ago, Downtowner said:

So I was thinking about this with the way the construction industry has been over the last several years. I wanted to make this thread for construction trends and as well as the way it ties in with new development and talk about the cost of materials and just the overall industry in general. 
 

I want to say that I have notice a few projects here and their being halted due to cost of materials and cost of labor. One obviously being the genworth new hq. But overall I will say the industry seems to be getting tougher depending on what trade you’re in and what side of the trade your in. If you deal with new construction install. The more the interest rate goes up the worse it will get for construction. We layed off 30 plumbers the other day I heard. It’s getting a little nerve racking for some of us. But if you have anything you know of or can think of construction wise around the Richmond area please share. I think this is great to have one here to tie in with the development side of projects going on. 

This is a great idea, @Downtowner-- and it's a topic that needs discussion. I can't wait to see the insights that come from this thread. 

[Hike]

16 hours ago, Downtowner said:

So I was thinking about this with the way the construction industry has been over the last several years. I wanted to make this thread for construction trends and as well as the way it ties in with new development and talk about the cost of materials and just the overall industry in general. 
 

I want to say that I have notice a few projects here and their being halted due to cost of materials and cost of labor. One obviously being the genworth new hq. But overall I will say the industry seems to be getting tougher depending on what trade you’re in and what side of the trade your in. If you deal with new construction install. The more the interest rate goes up the worse it will get for construction. We layed off 30 plumbers the other day I heard. It’s getting a little nerve racking for some of us. But if you have anything you know of or can think of construction wise around the Richmond area please share. I think this is great to have one here to tie in with the development side of projects going on. 

I hope you're safe and don't have to go through any layoff.  I'm now retired, but can tell you this industry, unfortunately,  is subject to layoffs, at least that was my experience.  My career spanned over 25 years in commercial interior design and architecture and can pass along that I was not insulated from layoffs and it mirrored the construction industry.  In my experience,  when there were economic downturns, shifts in the economy, recessions, etc.,  there would be layoffs.  When they needed designers, architects, you're employed, when their work slowed down, you're let go.  I spent much of my time in the hospitality sector and found myself unemployed 3 times over a 25 year span and moved to find work. In particular, when I aged and my salary grew, the layoffs happened easier, at least it felt that way, it seemed the more I made the sooner in the layoff I was let go.  One area where I wish I was better and perhaps could have insulated me, but never was really good at it, would have been to be a marketer, bring in clients, make it hard for them to let you go because you bring in money.  All this to say, and I'm no expert, remain flexible and look for other areas to grow  in your field, expand the reasons to be held on to making it harder for them to let you go.  

Edited November 11, 2022 by Hike

[Downtowner]

8 hours ago, Hike said:

I hope you're safe and don't have to go through any layoff.  I'm now retired, but can tell you this industry, unfortunately,  is subject to layoffs, at least that was my experience.  My career spanned over 25 years in commercial interior design and architecture and can pass along that I was not insulated from layoffs and it mirrored the construction industry.  In my experience,  when there were economic downturns, shifts in the economy, recessions, etc.,  there would be layoffs.  When they needed designers, architects, you're employed, when their work slowed down, you're let go.  I spent much of my time in the hospitality sector and found myself unemployed 3 times over a 25 year span and moved to find work. In particular, when I aged and my salary grew, the layoffs happened easier, at least it felt that way, it seemed the more I made the sooner in the layoff I was let go.  One area where I wish I was better and perhaps could have insulated me, but never was really good at it, would have been to be a marketer, bring in clients, make it hard for them to let you go because you bring in money.  All this to say, and I'm no expert, remain flexible and look for other areas to grow  in your field, expand the reasons to be held on to making it harder for them to let you go.  

Yes while I currently have 1 year of electrical experience under my belt I also already have a year of heating and air under my belt. So the good thing about it is I have experience in multiple trades. The other good part is i can do some service work too which is also something that makes you more able to stay on because someone will always have to have something worked on. But I like to stay in the new construction side of electrical. Service side is a pain in certain instances. Also residential electrical and heating air is my last resort. It makes my head hurt dealing with homeowners. 

[Hike]

7 minutes ago, Downtowner said:

Yes while I currently have 1 year of electrical experience under my belt I also already have a year of heating and air under my belt. So the good thing about it is I have experience in multiple trades. The other good part is i can do some service work too which is also something that makes you more able to stay on because someone will always have to have something worked on. But I like to stay in the new construction side of electrical. Service side is a pain in certain instances. Also residential electrical and heating air is my last resort. It makes my head hurt dealing with homeowners. 

Good that you have alternate options, you never know. As for residential, there was that option for me as well, but, like you, I didn’t want to deal with husbands and wives designing their home. 

[wrldcoupe4]

Commercial is the way to go. Takes most of the emotion out. 

[Downtowner]

1 hour ago, wrldcoupe4 said:

Commercial is the way to go. Takes most of the emotion out. 

10000000 percent spot on. I can’t tell you how much less of a headache it is even though you still have headaches but not the nightmare of home makeovers.  I was working on the childrens hospital today. While quite a bit has been done indoors since my last time at that site 2 months ago. Their are things electrical that I just shake my head about. In the below grade parking deck levels they put a giant orange corded lantern lights all over that part of the parking deck. It looked it extremely lazy and trashy and like let’s hurry up and get out of here job. Most parking decks I have been in have some sort of professional looking lighting. Couldn’t believe it when I saw it. But overall still a lot of work to be done on the building.