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^ Considering Chicago's population is "not growing" , it's actually pretty impressive. I think Los Angeles for multi family is fairly impressive given that they were less of a multi family type of construction city more in the modern era. It's adding a ton of multi unit buildings.
If you will read again, I was talking about actual number of units is a better data point to look at than the year over year percent values. The previous year can skew percents as to look better or worse than what the actual data look like over a multi year period. It's all in how you interpret the data. What impresses me are cities that year after year post increases, because it indicates the overall strength of a city's multi-family housing market.
You said Nashville's growth wasnt that impressive and "overrated".No matter how you look at these numbers its just not true,especially put in context with Census stats,
I can read and interpret data just like you so.....
If I were so offbase ,then you would have so many experts saying the same things
Seattle ($1.5 billion), down 57%
Miami ($3.1 billion), down 38%
San Francisco ($2.1 billion), down 24%
New York City ($15 billion), down 8%
Dallas-Ft. Worth ($3.4 billion), down 7%
Phoenix ($1.5 billion), down 5%
Houston ($2.5 billion), down 4%
The metropolitan areas in the top 20 showing growth during the first half of 2019 were:
Cincinnati ($1.4 billion), up 130% Nashville ($2.2 billion), up 112% Atlanta ($3.4 billion), up 69%
Washington, D.C. ($7.1 billion), up 50%
Austin, Texas ($2.6 billion), up 39%
Philadelphia ($2.5 billion), up 34%
Minneapolis ($1.8 billion), up 28%
Portland, Oregon ($1.4 billion), up 22%
Columbus, Ohio ($1.2 billion), up 20%
Los Angeles ($3.8 billion), up 14%
Orlando, Florida ($1.8 billion), up 8%
Boston ($3.8 billion), up 2%
Chicago ($3 billion), up 0.4% https://www.constructiondive.com/new...arkets/561598/
Seattle is still booming, just a little less intensively on the commercial side. Some comments:
--Our office market saw lower starts in 2019. Much of this was Amazon...no major starts in Seattle itself since late 2018, and only one major start in Bellevue, where they appear to be focusing their future growth with several other projects confirmed or rumored. Downtown Bellevue also rezoned recently, including a 600' tall core district...a lot of projects waited for this, including lower areas about 40 highrises (over 100' or so) have been proposed in the main square mile in addition to the 8 currently in construction or site prep. The Spring District also saw its second highrise start in 2019, with others coming.
--The list is about "starts." Sometimes a year-to-year change is simply whether you count 2018 or 2019 as a start...with the biggest jobs in particular (phased, or lengthy site prep) it's often a gray area even from the (my) contractor perspective.
--This is commercial work. Seattle is very busy with civil work including grade-separated light rail expansions in three directions. This uses a lot of construction industry capacity that could otherwise go to buildings. It's a big contributor to our continued cost escalation in the 5% range annually.
--Our boom has been remarkable because urban districts are booming, but overall numbers haven't been unusual. We haven't built a ton of housing, or even an unusual amount of multifamily. Very few garden-style apartments have been built in this decade. Just five-figure amounts of highrise units, and far more of the six-story variety in urban formats. The same really applies to offices...lots of growth in greater Downtown and the main Eastside nodes (Bellevue, Redmond, etc.), but next to zero growth of the old suburban variety.
--I'm not sure what the dividing line is for "commercial" vs. "residential." Does the standard Seattle four-pack of townhouses count (duplex in the front, duplex in the back, replacing a bungalow)? Does a 10-unit apartment building?
Hudson Yards cam online last year and several of those buildings where north of $1 Billion a piece
Yes, and no. Yes, this ranking goes by cost, not amount. But it would essentially be the same ranking by amount, so irrelevant. NYC has far more multifamily construction than any other metro.
Also, $1 billion isn't that much for a major new tower in NYC. Try $4 billion for the larger new office towers, and $2 billion for larger new residential towers.
Dallas-Fort Worth was the second-busiest building market in the country last year with almost $22.5 billion in construction.
Only New York City had more total construction — both residential and nonresidential — than the D-FW area, according to information from Dodge Data & Analytics.
It was the fourth year in a row that annual building starts in North Texas topped $20 billion — an unheard of pace of construction for the D-FW area.
Where all these projects in NY? How is its population declining so fast if the growth is that much
This is a common misconception about how cities work I've found. A population decline somewhere does not automatically mean
(a) Everywhere in a city in declining
(b) A lot of new construction cannot exist.
Chicago is a great example of this. There's a fair amount of construction in its downtown and surrounding neighborhoods for the last 5+ years especially. People will just say "how is this? Its population isn't increasing." Well, the downtown population has increased 30% between 2010 and 2018 so obviously there's demand right there. People fail to to actually look into what's going on after that initial question and completely miss the important parts. Furthermore, you have people making much more money who demand better housing - they want to better their living situation with nicer places, so there's demand from that too.
NYC is no different from this. You have numerous areas that are growing as well as numerous areas that might be gentrifying and thus a demand for more new construction housing.
The change in population anywhere should never be the stopping point for this type of thing. It should only be a starting point into looking into what's actually going on somewhere at a deeper level.
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