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 | Jun 19, 2020
7 must reads for the AEC industry today: June 19, 2020
Brown University's first housing building in three decades and demand for family rentals expected to jump.
Market Data | Jun 18, 2020
New data shows construction activity returning to pre-coronavirus levels in many parts of the country
Association survey and data collected by Procore measure impacts of the pandemic, showing signs of a construction recovery, but labor shortages and project cancellations show industry needs federal help.
Market Data | Jun 18, 2020
AIA releases strategies and illustrations for reducing risk of COVID-19 in schools
For the 2020-21 school year, districts are facing the difficult task of determining if K-12 schools will reopen this fall.
Market Data | Jun 18, 2020
6 must reads for the AEC industry today: June 18, 2020
Northbrook's new cannabis dispensary and America's structural steel industry remains a success story.
Market Data | Jun 17, 2020
6 must reads for the AEC industry today: June 17, 2020
Santa Fe becomes the second city in the world to achieve LEED v4.1 and the megacity is dead.
Market Data | Jun 16, 2020
7 must reads for the AEC industry today: June 16, 2020
Tottenham Hotspur Stadium has its own brewery and workers want policy changes before they return to offices.
Market Data | Jun 15, 2020
International Code Council offers guidance on building re-occupancy for reopening economies
Companies and building managers can access free resources at the Code Council’s Coronavirus Response Center.
Market Data | Jun 12, 2020
6 must reads for the AEC industry today: June 12, 2020
How will museums change in the face of COVID-19 and the patriarch of The Boldt Company dies.
Market Data | Jun 11, 2020
5 must reads for the AEC industry today: June 11, 2020
Istanbul opens largest base-isolated hospital in the world and AIA issues tools for reducing risk of COVID-19 transmission in buildings.
Market Data | Jun 10, 2020
6 must reads for the AEC industry today: June 10, 2020
Singapore's newest residential district and CannonDesign unveils COVID Shield.
