A $132 million expansion to the Wilson Hospital in Johnson City is the only institutional project to enter planning stages for construction, Dodge Data & Analytics reports in its Dodge Momentum Index for June. Dodge indicates the emergency room portion of the project has a value of $115 million.
Binghamtonhomepage.com reports that UHS plans to double the size of the hospital’s emergency room and introduce dozens of new private patient rooms.
Plans call for a six story addition to the Decker Center at Wilson, increasing the number of available ER beds from 27 to 49.
The project will also create a new helipad on the roof with its own dedicated elevator as Wilson is a regional trauma center, stroke center and has the only neonatal ICU in the region, the published report says.
Nationally, The Dodge Momentum Index dropped 6.6% in June to 121.5 (2000=100) from the revised May reading of 130.1. The Momentum Index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. The institutional component of the Momentum Index fell 11.7% while the commercial component declined by 3.5%.
The Momentum Index has shifted noticeably lower as the fallout from recession continues to hold its grip on the construction sector. The overall Momentum Index fell 13% in the second quarter from the first three months of the year, with the commercial component 14% lower and the institutional component down 11%. While the recession has ended and recovery underway, the return from one of the steepest downturns in U.S. history will be slow and fraught with risk. This holds true for the construction sector as well. While projects continue to enter planning, the slower pace suggests that recovery in the construction sector will be modest in coming months.
In June, seven projects each with a value of $100 million or more entered planning. The leading commercial projects were a $200 million warehouse in Windsor CT and a $200 million office building in Somerville MA.
