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1) New York City
2) Dallas
3) Houston
4) Washington DC
5) Chicago
6) Boston
7) Los Angeles
8) Phoenix
9) Seattle
10) Atlanta
My thoughts:
-Given that the metric used is dollars invested in current construction (note to all the, "Well my city is GOING to build this!" crowd... these are buildings that are actually being built now... not proposed), I'm not in the least bit surprised NYC is number 1. Still, I'm glad to see it.
-Also, good for Texas with 2 of the top 3.
-DC does have a lot going on.
-Chicago isn't "dead" (or dying) like it seems so many people on this forum want to believe.
This is pretty much the exact list I'd expect to see. With the exception of Phoenix, the other nine all have a lot going for themselves economically, and don't particularly represent the "land is cheap, so let's build here," phenomenom that drove the last construction boom. In other words, these places are not overbuilt with a languishing surplus of buildings. I know that the projects in Boston represent substantial and promising expansions of commercial activity. It wouldn't at all surprise me if that's what's going on in the other cities, too, if for no other reason than the difficulties in financing something built on spec under today's lending climate.
This is pretty much the exact list I'd expect to see. With the exception of Phoenix, the other nine all have a lot going for themselves economically, and don't particularly represent the "land is cheap, so let's build here," phenomenom that drove the last construction boom. In other words, these places are not overbuilt with a languishing surplus of buildings. I know that the projects in Boston represent substantial and promising expansions of commercial activity. It wouldn't at all surprise me if that's what's going on in the other cities, too, if for no other reason than the difficulties in financing something built on spec under today's lending climate.
Well, Henry.
Have you bothered to research exactly what and where these construction projects in Phoenix have been happening or are you just assuming it is in the far-flung suburbs because it is "cheap land"?
Have you bothered to research exactly what and where these construction projects in Phoenix have been happening or are you just assuming it is in the far-flung suburbs because it is "cheap land"?
I don't think Henry's post was meant to be an insult to Phoenix.
Without looking at the list, I would have guessed that Miami, Philadelphia or San Francisco would have been ahead of Phoenix. And I have nothing against Phoenix. "Guessing" and "Expecting" are just that... notions not based on research. The list says Phoenix is in the top 10 and has the numbers to back it up. Good for Phoenix.
Scottsdale, don't jump to conclusions, I wasn't criticizing Phoenix, just saying that I don't know what's going on there. It's not the only cheap land city on the list, but it is the only one that was hit hard by the construction collapse. Conspicuously absent, for example, are Las Vegas and Charlotte. I take it as a good sign that Phoenix is on the list, just didn't expect to see it. The other cities makes sense to me because they all have highly diversified economies or specialties in sectors not hit by the recession (health care, energy, education, for example).
What are your theories about Phoenix? What's going on there that might be different from some other cities that didn't make the list?
Scottsdale, don't jump to conclusions, I wasn't criticizing Phoenix, just saying that I don't know what's going on there. It's not the only cheap land city on the list, but it is the only one that was hit hard by the construction collapse. Conspicuously absent, for example, are Las Vegas and Charlotte. I take it as a good sign that Phoenix is on the list, just didn't expect to see it. The other cities makes sense to me because they all have highly diversified economies or specialties in sectors not hit by the recession (health care, energy, education, for example).
What are your theories about Phoenix? What's going on there that might be different from some other cities that didn't make the list?
According to McGraw Hill(bible of the industry btw), the source whose data Forbes'(unsurprisingly) mutilated to make this ranking says that following about LV and Charlotte.
2011 Construction Starts:
Las Vegas $3.819 Billion
Charlotte $2.454 Billion
Makes a lot of sense because it includes single family homes for which Dallas and Houston build a lot of. It would be nice to see an urban ranking of mult-family buildings and office towers with attached housing (row houses) only to see the comparisons in urban development. The vast differences in development style across the country make a list like this useless for urban enthusiasts because it includes low density suburban style single family homes which throws the list off for an urban enthusiast. I know many areas in the nation promote and prefer single family homes so it's an interesting list anyway.
Scottsdale, don't jump to conclusions, I wasn't criticizing Phoenix, just saying that I don't know what's going on there. It's not the only cheap land city on the list, but it is the only one that was hit hard by the construction collapse. Conspicuously absent, for example, are Las Vegas and Charlotte. I take it as a good sign that Phoenix is on the list, just didn't expect to see it. The other cities makes sense to me because they all have highly diversified economies or specialties in sectors not hit by the recession (health care, energy, education, for example).
What are your theories about Phoenix? What's going on there that might be different from some other cities that didn't make the list?
Phoenix was starting to hit its stride and there were many projects proposed for downtown and midtown Phoenix and Tempe than never came to fruition perhaps because of the recession. Some of those are starting to slowly come back (even in different incarnations), but there has definitely been more of a focus on infill, commercial/government/hotel/residential construction, as well as a stronger ASU presence in downtown/midtown Phoenix.
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