Phoenix Rises as US Construction Starts Plummet

Article originally posted on HERE on September 17, 2020

While commercial and multifamily construction activity plummeted in the first half of 2020, one major metro area was spared.

Starts in the top 20 metropolitan areas posted a decline of 22% through the first six months of 2020 compared to the same period a year ago, according to Dodge Data and Analytics. After a normal start to the year, the drop began in March as a direct result of the coronavirus pandemic.

In Phoenix, however, construction starts leapt by 82% for the first half of 2020, according to Dodge. That equalled nearly $2.8 billion in project starts for the measured period. The increase, according to Dodge, was fueled by the start of some sizable projects, most notably the:

  • $300 million Pier 202 mixed-use building.
  • $125 million Adeline Residences at Collier Center.
  • $200 million 100 Mill Ave office development.
  • $115 million Park 303 warehouse building.

The only other city to show growth in the top 20 was Detroit, which saw starts increase by 96% to $929 million, less than half of Phoenix’s total.

Find Complete Article Here: https://www.constructiondive.com/news/phoenix-rises-as-us-construction-starts-plummet/585423/

BACK TO TOP FIVE