First Half 2019 Commercial and Multifamily Construction Starts Show Varied Pattern by Top Metropolitan Areas
By Dodge Construction Central Data & Analytics
During the first half of 2019, six of the top ten U.S. metropolitan markets for commercial and multifamily construction starts ranked by dollar volume registered greater activity compared to a year ago, according to Dodge Data & Analytics. Of the top twenty markets, thirteen were able to register gains. At the U.S. level, the volume of commercial and multifamily construction starts during the first half of 2019 was $101.4 billion, down 6% from last year’s $107.4 billion.
The New York NY metropolitan area, at $15.0 billion, maintained its longstanding number one ranking by dollar volume, although it settled back 8% from a year ago. Several very large projects had boosted New York’s first half 2018 total, including the $1.8 billion Spiral office tower in Manhattan’s Hudson Yards district. The first half of 2019 also witnessed groundbreaking for several very large projects, such as the $1.1 billion TSX Broadway Hotel project in Times Square, yet this year’s lift from very large projects was slightly less than what took place during 2018."
Want us to share your news or article? Contact Courtney Smyser at email@example.com.