Friday, August 19, 2016

D-FW commercial building starts are up 27 percent in first half of 2016

More than $2.8 billion in commercial starts were recorded in North Texas in the first six months of 2016. 

Dallas-Fort Worth commercial construction starts have risen by 27 percent in the first half of the year, compared with the same period in 2015.
And the D-FW area ranked in the top 10 markets in the country for commercial and apartment building, according to a new report by Dodge Data & Analytics.
Starts of  more than $2.8 billion in North Texas commercial projects were recorded for the ranking.
Dodge Data tracks project including office buildings, stores, hotels, warehouses, garages and service stations and multifamily housing.
Nationwide, commercial and apartment building starts dropped 5 percent during the first half of the year from 2015 levels.
One of the biggest declines was in Houston, where building starts plunged 44 percent.
"Markets such as Miami, Washington, D.C., Boston, and Dallas-Fort Worth, which had been early participants in the recovery process, continue to see strengthening activity in 2016," Robert A. Murray, chief economist for Dodge Data & Analytics, said in the report. "This has outweighed the weaker activity that's been reported in Houston, adversely affected by the slowdown in the nation's energy sector, as well as by the first half 2016 pullback for several tech-related markets such as Seattle, Austin, and San Jose following their elevated performance in 2014 and 2015."

Written by Steve Brown/Dallas Morning News