The economic news this week has been fairly mixed for the U. S. economy. Consumer confidence soared in Tuesday’s report. Consumer sentiment tanked in today’s report (different survey – different surveyor). The best news was the Case Shiller index for April, which showed that home values had risen more than 10% over last year. That same day RealStats reported that home sales for April in Pittsburgh were up 24% +, with average values outpacing the median value.
Bear Construction is starting on a new 150,000 sq. ft. facility for Jerome Manufacturing at the Fayette Business Park in Georges Twp. near Springfield, PA. The Fay-Penn Economic Council says the project is a $9 million investment.
Pitt opened bids Thursday afternoon on the Phase 2B portion of the ongoing Benedum Hall modernization project. Bids came in at $24.3 million. The low bidders on the four prime contracts were: Volpatt Construction (general) at $7,639,000; McKamish (HVAC) at $10,225,000; Ruthrauff-Sauer (plumbing) at $1,495,000; and TJR Enterprises (electrical) at $4,984,000.