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Something about that New York number just seems so odd. Why is it all of a sudden so much higher than every other metro? Did job growth spike or something? I heard there was a deadline for something in June and developers rush to apply for permits.
Last year during the same period NY was 2nd only to Houston in construction permits, so its not like NY was starting from a low base comparison... Even if there will be no construction permits issued at all for NY during the second half of this year (which is very unlikely) it would still be enough to secure 2nd place in overall count. My bet is NY will overtake Houston for this year, but next year they will swap again. In the long run, NY can't compete with Houston, since we don't have any empty land to build at all. Vast majority of the growth in NY is coming from new highrise apartment complexes (NY city accounts for like 70% of all NYC metro construction, and even suburbs in Jersey are building apartment skyscrapers).
Houston's job growth numbers are pretty poor relative to sunbelt performance. I expect the permits to drop significantly for Houston over the next year. There were estimates job growth for Houston for the year 2015 was a whopping 19,000. NYC will easily be take Houston...it won't be a hard task now that Houston has had this downturn.
Look ouit for Los Angeles, Dallas, Miami and Atlanta over the next few years though. Those are going to be where high growth takes places through 2018. Job growth numbers for those four areas tops the tables through 2018.
Last year during the same period NY was 2nd only to Houston in construction permits, so its not like NY was starting from a low base comparison... Even if there will be no construction permits issued at all for NY during the second half of this year (which is very unlikely) it would still be enough to secure 2nd place in overall count. My bet is NY will overtake Houston for this year, but next year they will swap again. In the long run, NY can't compete with Houston, since we don't have any empty land to build at all. Vast majority of the growth in NY is coming from new highrise apartment complexes (NY city accounts for like 70% of all NYC metro construction, and even suburbs in Jersey are building apartment skyscrapers).
i think NYC will continue to reign supreme except for the crazy oil growth years in Houston. NYC can only grow up, which cost a lot more to develop than most of Houstons projects. and NYC will always be that "IT" city that people from all over the world dream of moving to.
Something about that New York number just seems so odd. Why is it all of a sudden so much higher than every other metro? Did job growth spike or something? I heard there was a deadline for something in June and developers rush to apply for permits.
New York will always have demand. There is office demand and hotel demand there, but the majority of the demand currently is condo towers. The majority of buildings going up are condo. There is a ton of wealthy foreigners coming into the New York market and buying big.
Just found out that there is a bi-annual crane count for most of the big North American cities, thanks to Rider Levett Bucknall. Who knew? Here's July's report:
Toronto: 110
New York: 70
Los Angeles: 45
Calgary: 34
Washington DC: 31
San Francisco: 26
Honolulu: 19
Phoenix: 19
Chicago: 16
Portland: 14
Seattle: 13
Boston: 6
Denver is listed as well, but for some reason the report doesn't list a concrete number, only saying that 5 new projects have commenced over the past 6 months.
Other cities like Miami, Houston, Dallas, and Vancouver are oddly missing. Either there's zero cranes currently erected in those cities (hard to believe) or RLB simply only tracks crane counts in select cities (far more believable). In any case, its interesting data, and I'm sure the fact that Toronto currently has 50%+ more cranes than New York will turn a few heads.
Philadelphia is missing as well. There are 16 tower cranes currently up in Philadelphia. I was also just in Miami and there are easily 20+ tower cranes in the city limits alone not counting the surrounding burbs. The count for Seattle also seems to be off.
Just found out that there is a bi-annual crane count for most of the big North American cities, thanks to Rider Levett Bucknall. Who knew? Here's July's report:
Toronto: 110
New York: 70
Los Angeles: 45
Calgary: 34
Washington DC: 31
San Francisco: 26
Honolulu: 19
Phoenix: 19
Chicago: 16
Portland: 14
Seattle: 13
Boston: 6
Denver is listed as well, but for some reason the report doesn't list a concrete number, only saying that 5 new projects have commenced over the past 6 months.
Other cities like Miami, Houston, Dallas, and Vancouver are oddly missing. Either there's zero cranes currently erected in those cities (hard to believe) or RLB simply only tracks crane counts in select cities (far more believable). In any case, its interesting data, and I'm sure the fact that Toronto currently has 50%+ more cranes than New York will turn a few heads.
Houston would easily be 3rd on this list.. There are just under 20 tower cranes in downtown alone.. Not counting the dozens of other developments taking place all across the city..
Just found out that there is a bi-annual crane count for most of the big North American cities, thanks to Rider Levett Bucknall. Who knew? Here's July's report:
Toronto: 110
New York: 70
Los Angeles: 45
Calgary: 34
Washington DC: 31
San Francisco: 26
Honolulu: 19
Phoenix: 19
Chicago: 16
Portland: 14 Seattle: 13
Boston: 6
Denver is listed as well, but for some reason the report doesn't list a concrete number, only saying that 5 new projects have commenced over the past 6 months.
Other cities like Miami, Houston, Dallas, and Vancouver are oddly missing. Either there's zero cranes currently erected in those cities (hard to believe) or RLB simply only tracks crane counts in select cities (far more believable). In any case, its interesting data, and I'm sure the fact that Toronto currently has 50%+ more cranes than New York will turn a few heads.
Uh, what? I think somehow you confused Seattle and Denver when reading that. The July doesn't list a number for Denver, but if you read their January report, it says 13 in Denver, while the July report says that number is holding steady. The report you linked doesn't list numbers for Seattle (and neither does January's), but a quick search shows 51 in January and 42 in July (accounting for the 9-crane decrease the report does mention.
Uh, what? I think somehow you confused Seattle and Denver when reading that. The July doesn't list a number for Denver, but if you read their January report, it says 13 in Denver, while the July report says that number is holding steady. The report you linked doesn't list numbers for Seattle (and neither does January's), but a quick search shows 51 in January and 42 in July (accounting for the 9-crane decrease the report does mention.
Yes, the list you quoted mixed up the crane count total for Seattle, which is Last counted to be 42 in July.
Uh, what? I think somehow you confused Seattle and Denver when reading that. The July doesn't list a number for Denver, but if you read their January report, it says 13 in Denver, while the July report says that number is holding steady. The report you linked doesn't list numbers for Seattle (and neither does January's), but a quick search shows 51 in January and 42 in July (accounting for the 9-crane decrease the report does mention.
Thanks for doing the footwork and piecing together the info combining January's report with July's. I had only seen July's and was only referring to the information contained within in
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