New Starts Growth Broadens; US Up 13%
ByComing soon – national events: RealShare STUDENT HOUSING in Dallas on September 1-2. RealShare APARTMENTS in Los Angeles on October 21-22. See our complete lineup.
Some metro areas have seen high double-digit and even triple-digit year-over-year growth in new starts.
NEW YORK CITY—Given the New York City metropolitan area’s size and scale, it should come as no surprise that the region led Dodge Data & Analytics’ ranking of the top US metro areas by the dollar amount of new commercial and multifamily construction starts for the first half of 2015. A total of $17.3 billion of commercial and multifamily projects in the New York metro area broke ground betweenJanuary and June, up 72% from a year ago.
Impressive as that year-over-year growth is, the New York region posted only the fourth biggest percentage gain among Dodge Data’s top 20. Las Vegas (up 181%), Kansas City, MO/KS (up 116%) and Tampa-St. Petersburg-Clearwater, FL (up 89%) all bested New York on that score, although the dollar increases were far smaller…
