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Metropolitan Update

RFTR METRO 400Feb. 4, 2016 – A ranking of the top U.S. metropolitan areas by the dollar amount of construction starts for commercial and multifamily building shows the New York City metropolitan area leading the nation in 2015, according to Dodge Data & Analytics. A total of $34.9 billion of commercial and multifamily projects in the New York City metropolitan area reached groundbreaking during 2015, up 66 percent from a year ago. For the nation as a whole, commercial and multifamily building in 2015 was reported at $162.7 billion, up 8 percent from a year ago.

Rounding out the top five metropolitan areas in 2015 with their percentage change from 2014 were the following – Miami, $6.3 billion, down 8 percent; Dallas-Ft. Worth, $6.0 billion, up 35 percent; Chicago, $5.9 billion, up 14 percent; and Washington, D.C., $5.9 billion, down 4 percent.

Metropolitan areas ranked 6 through 10 were – Los Angeles, $5.8 billion, up 10 percent: Boston, $4.7 billion, no change from the prior year; Seattle, $4.2 billion, up 3 percent; Houston, $4.0 billion, down 28 percent; and Denver, $3.0 billion, up 19 percent.