Value of Phoenix Metro Construction Starts Outpaces Nation, Report Shows

Article originally posted on Phoenix Business Journal on February 7, 2023

Several major construction projects moved forward in Phoenix in 2022, which contributed to it being recognized as a top market for the value of commercial and multifamily starts.

Dodge Construction Network found Phoenix to be No. 7 on a list of 10 metros with the largest value in construction starts from 2022. At $8.4 billion of value in construction, the total development costs of projects increased 34% year over year from $6.3 billion in 2021.

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