Issue 32 – December 2022
The year is winding down, and we’re pleased to have achieved $363 million in 2022 new awards and an additional $22 million pending in the fourth quarter. Major wins in the residential market (416 Spring Garden Street) and the life sciences market (3151 Market Street) will contribute to our strong backlog of projects, further confirming INTECH as a leader in both markets.
The Renovations and Interiors division again experienced great success in the life sciences market, driven by awards at Pennovation, The Curtis building, and Cira Centre. The entertainment sector was another major contributor for R/I in 2022 with significant projects like the St. Martin’s Clubhouse renovation at the Philadelphia Cricket Club and the 76ers’ Locker Room renovation at the Wells Fargo Center. The office fit-out market is slowly returning after the pandemic and R/I is seeing more opportunities on the Corporate/Office front.
We exceeded our healthcare goal for 2022, and are poised to grow that division in the coming year. After targeting many new organizations, Healthcare is awaiting the award of $22.5 million of new pursuits with over $3.6 million already secured.
2023 is set to be a strong one for INTECH. Answer these questions about INTECH for a chance to win a gift card. The first quarter should bring a sizeable life sciences award at 3801 Chestnut, two nice wins in the education market at Germantown Friends–School Commons & Center for the Arts and William Penn Charter–Lower School, and the formal award of pre-construction for the Princeton Plasma Physics Lab’s new Innovation Center. In the second quarter of 2023, we forecast another major life sciences project at 3838 Market Street and a new multi-family building at 2301 Walnut Street. The balance of the year should see the construction contract for Princeton’s Innovation Center as well as the Barracks Hotel conversion at the Navy Yard.
As we finish one year and begin another, we are grateful for your commitment and support. All these new pursuits and projects can’t exist without you. THANK YOU. Together, let’s look forward to a fruitful and exciting new year.