Despite The Green Light, Houston’s Restaurateurs Are Reluctant To Raise Occupancy Or Ditch Masks

Austin-based theater chain Alamo Drafthouse Cinema has voluntarily filed for Chapter 11 bankruptcy protection, one of the first theater groups to do so amid severe financial troubles for the industry in the wake of the coronavirus pandemic. As part of the restructuring, Alamo Drafthouse…

Read Full Story

The coronavirus pandemic has had a protracted impact on the construction industry, exacerbated by pre-existing trade tariffs on construction materials. Beyond the complications of workers falling ill and job sites shuttered last year due to shelter-in-place orders, high prices and slow delivery schedules for construction materials such as lumber and steel have maintained a stubborn strain on the industry.

The supply chain issues and rising costs began about a year ago when public officials across the nation issued orders halting work on many construction sites. As soon as those restrictions started to lift, there was a rush of demand for residential homebuying from people wanting to upgrade their square footage or achieve homeownership for the first time, which created a surge in demand for construction materials, according to Ken Simonson, chief economist of the Associated General Contractors of America.

This followed sweeping logistical challenges resulting from the pandemic and shutdown hampering production and distribution facilities' ability to fulfill the need for materials. It coincided with a rise in remodeling work and ventilation system upgrades for schools and other facilities to accommodate social distancing protocols, also driving demand.

“All of this caused huge disruptions to the supply chain for many materials just as the demand came roaring back,” Simonson said. “And sawmills in particular, once they shut down, it wasn't necessarily easy to resume production to get the logs coming in and so forth. So, they've been playing catch-up for almost a year now.”

Read the full story here.

In Case You Missed It...

During the pandemic, many construction projects in the LA area were considered essential and continued as other businesses were shuttered. Now, at the beginning of a new year and with the promise of coronavirus vaccinations and an economic rebound, construction experts are beginning to prepare for a very different year. 

Residential construction will be a leader in 2021, reports predict, with commercial trailing behind. The continuation of a labor shortage will be a factor in what are predicted to be rising construction labor costs in the coming year, especially as other sectors of construction begin to rebound. 

Read the full story here.

Everyone in the world of business and real estate is talking about the future of the office, hybrid work models and flexible office networks. How will companies and their staff use office space in future? Well, one of the world’s largest banks is pioneering a new hybrid work strategy and has given Bisnow an insight into its thinking and strategy. 

Standard Chartered Group Head of HR Tanuj Kapilashrami explained at Bisnow London’s recent Future of Office digital summit why the company has become one of the first major global firms to strike a deal with a flexible office provider that will allow a big chunk of its staff to work remotely for a big portion of their time. 

The answers lie in data, in thinking about productivity in a new way and about carefully measuring where people are working, rather than just guessing. 

Read the full story here.

Joe Argabrite was expecting a record-breaking 2020 at his 750-seat live music venue in Louisville, Kentucky. But Argabrite and his co-owners at Headliners Music Hall were forced to cancel every show after March and found themselves struggling to stay in business.

Headliners has a deep connection to the Louisville music scene. Since opening in 1998, the venue has hosted the Black Keys, Ice Cube, Kings of Leon, My Morning Jacket and comedian Patton Oswalt. Bands like Wolf Mother, Strfkr, The Lone Bellow and Bikini Kill were booked and likely to sell out Headliners, Argabrite said. The shows didn't go on.

“It was a fairly dire financial position at that point to lose and refund the vast majority of our calendar all at once and no understanding of when revenue might come back,” Argabrite said. “It was always a possibility that we would be forced to throw in the towel, but my partner Billy [Hardison] and I are fighters with a true entrepreneurial spirit.”

In October, Headliners got a lifeline: The partners sold the concert hall to Grubb Properties, which is raising a new impact fund dedicated to saving independent music venues.

Read the full story here.