Based on data from over *11,000 tracked large-scale country wide construction projects, GlobalData, a leading data and analytics company, finds that 10 major US states account for nearly 60% of the total US construction project pipeline value (US$3.7 trillion).
GlobalData’s latest report: ‘Project Insight - Construction in Key US States’ reveals that, California, Texas and New York are among the states with the highest value of construction projects in the pipeline. With a total of 1,302 projects worth US$524.6bn, California, for example, has both the largest number and value of projects in the US construction project pipeline, with infrastructure projects and mixed-use developments, representing a combined 56% of California’s total pipeline value.
Dariana Tani, Economist at GlobalData explains: “The construction of mixed-use developments is booming across many US states, with the building of American city centers and suburbs coming to resemble one another due to changing demands from consumers and homebuyers. This is particularly the case for states such as Florida, California and New York. In Florida, the construction of mixed-use properties is growing faster than any other US state, with five of the top 10 largest construction projects in Florida being mixed-use construction projects, according to GlobalData.”
The desire to live, work, shop and play within walkable distances is not only unique to millennials and baby boomers, but also older generations who want to live in well-connected urban communities.
Tani adds: “The tech industry is also creating new demand to build more residential and commercial buildings, as well as transport infrastructure to accommodate the influx of workers. Big tech companies such as Google, Apple, Facebook, Microsoft and Amazon are encouraging significant investment. Among the most notable projects in the pipeline are Facebook’s US$850m Willow Campus Mixed-Use Development in San Francisco, Google’s US$800m Residential Development in Mountain View and Microsoft’s US$1bn Redmond Headquarters Redevelopment.”
*These projects are at all stages of development from announcement to execution.
Related Stories
Market Data | Aug 18, 2020
6 must reads for the AEC industry today: August 18, 2020
The world's first AI-driven facade system and LA's Greek Theatre restoriation completes.
Market Data | Aug 17, 2020
5 must reads for the AEC industry today: August 17, 2020
5 strategies for creating safer hotel experiences and how to manage multifamily assets when residents no longer leave.
Market Data | Aug 14, 2020
6 must reads for the AEC industry today: August 14, 2020
The largest single sloped solar array in the country and renewing the healing role of public parks.
Market Data | Aug 13, 2020
5 must reads for the AEC industry today: August 13, 2020
Apple Central World opens in Bangkok and 7-Eleven to buy Speedway.
Market Data | Aug 12, 2020
6 must reads for the AEC industry today: August 12, 2020
UC Davis's new dining commons and the pandemic is revolutionizing healthcare benefits.
Market Data | Aug 11, 2020
6 must reads for the AEC industry today: August 11, 2020
Elevators can be a 100% touch-free experience and the construction industry adds 20,000 employees in July.
Market Data | Aug 10, 2020
Dodge Momentum Index increases in July
This month’s increase in the Dodge Momentum Index was the first in all of 2020.
Market Data | Aug 10, 2020
Construction industry adds 20,000 employees in July but nonresidential employment dips
Association warns skid will worsen without new relief.
Market Data | Aug 10, 2020
5 must reads for the AEC industry today: August 10, 2020
Private student housing owners reap the benefits as campus housing de-densifies and race for COVID vaccine boosts real estate in life sciences hubs.
Market Data | Aug 7, 2020
6 must reads for the AEC industry today: August 7, 2020
BD+C's 2020 Color Trends Report and HMC releases COVID-19 Campus Reboot Guide for Prek-12 schools.
