As was the case many times in 2012, I am writing this month’s blog while traveling. It is my first trip of 2013 and it’s a great way to kick off the New Year by checking out a fresh project opportunity.
As we head into 2013, the vibe is definitely changed and one many companies haven’t had in many years. Just one year ago, many in our industry were still trying to endure the economic impact of the past four years. It was an unpleasant period of time, though we never abandoned our optimism.
Due to market changes, rising costs present a new set of challenges for 2013. Lumber, for example, has risen in price more than 30% over the past 3 months. Labor costs are also going up and quality labor is becoming difficult to find for certain trades. It is yet another reminder that we trade one challenge for the next as we experience the ebb and flow of business in an economy that’s not quite yet stable. And although the tests of 2013 will be different, we’re hopeful that the industry is showing signs of recovery.
As for WPC, we’re blessed to be working hard on new projects throughout our target segments. Two premier student housing projects have broken ground for new clients near University of Central Florida and Florida State University. We have multifamily projects in Celebration, Bradenton, and Tampa well underway and we’re wrapping up two senior housing projects in Lake Mary and Winter Garden, while preparing to start two more in Ocala and Lake Wales. In addition, we’re building two new timeshare buildings in Kissimmee, which is a positive indicator of growth for the hospitality market. Last, but certainly not least, our renovations division continues to work diligently on projects in Florida and Las Vegas. I can’t thank our clients enough for placing their trust in us and I promise we’ll live up to our reputation and exceed your expectations.
Although we’re busier than we were last year and market conditions are improving, we still haven’t reached our capacity. Estimating is working hard on many promising opportunities and we remain steadfastly competitive while adding the value our clients have come to expect from WPC.
WPC has yet to be deterred by a challenge, and the trials of 2013 will be no exception. We are positive and eagerly anticipating the opportunities that we know the New Year will bring, poised and excited for every chance we get to Build Beyond the Blueprint™.