Unispace spoke with the New York Times about responding to construction challenges in today's economic climate.
In the last two-and-a-half years, there has been a spike in supply chain struggles with rising costs, economic uncertainty, delays, and shortages, creating challenges in construction.
With these challenges, developers have learned to adapt and respond to these new climates. This is especially important as construction activity has been booming since the pandemic, with greater demands for new industrial buildings and multi-family housing resulting in 689 million sqft of warehouse space currently under construction. Furthermore, many data centers, life science labs, warehouses and distribution centers are in the works.
“Amazon expanded rapidly to create new fulfillment centers and sortation centers, and they did put a hold on a lot of materials around the Americas and around the globe. The market was concerned, but it didn’t actually have the effect of shorting supplies because of Amazon. They just sort of triggered everyone else’s thinking, and a fundamental shift happened.”
Read the full New York Times article "For the Want of an Insulation Screw".
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