HBW Construction's 2023 Success & 2024 Construction Outlook

We began the year with high hopes, and 2023 did not disappoint. Starting with the construction industry still feeling the after-effects of the pandemic and painful supply chain issues, the year provided us with steady work and interesting projects, offering a renewed sense of optimism. 

2024 construction outlook

HBW was perfectly positioned to capitalize on new opportunities in 2023. By continuing to build resources that allow us to excel in key market sectors and keeping our team focused on exceptional client service, HBW saw some notable successes in the marketplace and within our ranks. 

Growing Market Sectors

Although the market for office space build-outs remained flat,HBW saw substantial growth in health sciences, medical construction, as well as retail and restaurants. These results shifted our focus for 2024. 

Instead of a shotgun approach to pursuing new projects across all market sectors, we are now concentrating more on the market sectors with growth indicators. 

We recognize that medical and restaurant/retail builds are on a growth trajectory for our region; the work is there. Conveniently, HBW has a strong resume and lots of recent experience, making us a prime candidate for additional projects. This doesn’t mean we’re becoming a niche firm; it simply means we have enough experience and expertise to meet changing market needs. 

Service and Maintenance

Speaking of meeting market needs, HBW’s Service Division is poised for growth with a new name and new leadership. Previously, this arm of the business was separate from our construction services. Now, we’ll better leverage the knowledge and skills of our construction team to provide the maintenance and lifespan services that every business needs. Under John Woolrich, the Service Division is ready to continue helping our clients enjoy the benefits of efficient and well-maintained spaces. 

New Talent. New Roles.

As a company, we’ve strategically added some new team members, expanding our capabilities. You’ll notice new faces in project management and project coordination, sales, and superintendents. With careful planning and strategic growth, we never felt like we were scrambling to hire; we could move deliberately and identify top talent who fit our culture and share our work ethic. 

A Strong Sense of Culture

Recognizing and rewarding our employees is important at HBW. We ask everyone to go above and beyond for our clients. To show our appreciation, we changed up our staff interactions this year. 

We replaced two big events with multiple, smaller events that allowed for more engagement. Our outings included dinners, axe-throwing, Top Golf, fishing, shooting, and more. Employees also volunteered for community outreach events, including exterior improvements to Stepping Stones, a nonprofit near the office, and seasonal clean-ups at Montgomery Parks. These activities support HBW team building and strengthen our connection to the communities where we work. 

strategic growth

Standout Projects 

No yearly round-up would be complete without some HBW project highlights. 

First up is our base build on 1525 Marion Barry Ave. It’s an exciting project that we can lean into. HBW hasn’t done a base building in years, but our team was more than up to the challenge with their combined experience and careful planning. And base buildings represent another growing market for HBW. 

base build on 1525 Marion Barry Ave.

One of the most unique projects of the year is 1333 H Street, Washington DC. It had an atrium in the building on the 10th & 11th floors that we infilled. It required pulling a window to crane in steel and to pump in concrete. That isn’t something that happens every day, which made it exciting. 

1333 H Street, Washington DC

Our builds for Inova Hospital Center, and Apex Vet solidified our place in the medical sector, while a new win for an Aldi in Gaithersburg will kick off our retail work for 2024. 

New Year Plans 

Looking ahead to 2024 is a mixed bag. We don’t predict any major change in the market in the next six months, but we also don’t think we’ll see any dramatic upswings in construction. DC is still very vacant, and it will be a slower market until more people return to work there. That doesn’t mean all is quiet, however. The outskirts and suburbs in Northern Virginia and Maryland are definitely expanding. HBW will go where the action is, bringing our timeless focus on quality construction and exceeding customer expectations.