DALTX Real EstateDALTX Real EstateDALTX Real Estate
  • Home
  • Guest Post
  • Agents
  • Contact Us
  • About
  • Advertise With Us
Reading: Commercial, Multifamily Construction Starts Fall Sharply in D-FW Market
Share
Font ResizerAa
DALTX Real EstateDALTX Real Estate
Font ResizerAa
  • Home
  • Guest Post
  • Agents
  • Contact Us
  • About
  • Advertise With Us
  • Home
  • Guest Post
  • Agents
  • Contact Us
  • About
  • Advertise With Us
Follow US
© DALTX. All Rights Reserved.
DALTX Real Estate > Dallas-Fort Worth > Commercial, Multifamily Construction Starts Fall Sharply in D-FW Market
Dallas-Fort Worth

Commercial, Multifamily Construction Starts Fall Sharply in D-FW Market

3 Min Read
SHARE
sky-78113_640
Dallas-Fort Worth sustained a 20-percent or $6.8 billion decline in value for commercial and multifamily construction starts, according to a recent study.

The Dallas-Fort Worth housing market came out of 2020 with robust numbers despite COVID-19, low inventory, and economic setbacks. The market continues to lead the nation in the ongoing construction of apartments.

But the pandemic did impact a segment of the real-estate market — commercial and multifamily construction starts.

The operative word here is starts. Construction starts are when excavation begins for the footings or foundation of a building. All housing units in a multifamily building are defined as being started when excavation for the building has begun.  

D-FW sustained a 20-percent or $6.8 billion decrease in value for commercial and multifamily construction starts, according to a recent Dodge Data & Analytics analysis.

It could have been worse. The nation’s top-10 metro areas suffered a 23 percent drop in starts. New York took a big hit with a 25 percent decline and $23.5 billion loss in value. Phoenix, Denver, and Kansas City were the only metro areas that saw an increase in construction. Austin ranked ninth with nearly $4.9 billion on construction starts.

The commercial and multifamily total is comprised of office buildings, stores, hotels, warehouses, commercial garages, and multifamily housing. Not included are institutional building projects, manufacturing buildings, single-family housing, public works, and electric utility/gas plants.

sky-78113_640

In 2019, D-FW experienced an 18 percent gain in starts.

“The pandemic is having a significant negative impact on commercial and multifamily construction across the country,” Richard Branch, Dodge Data & Analytics chief economist said in the report. “While some areas stabilized over the summer, the current wave of the virus has further hindered activity.”

In 2020, D-FW multifamily housing starts fell 15 percent and commercial starts fell 23 percent.

Dodge Data & Analytics cited the $75 million Novel Turtle Creek residential tower as the largest multifamily building project to get underway. Dodge also listed the $65 million Shannon Creek Apartments in Burleson and the $64 million Stevenson Oaks Senior Living Complex in Fort Worth.

sky-78113_640
Novel Turtle Creek resident tower will be in the Turtle Creek/Oaklawn areas. (Crescent Communities)

Dodge cited the decline in pullbacks in office, hotel, and parking structures.

“The recently passed $900 billion stimulus plan will go a long way towards re-energizing the economy. The construction sector will show signs of recovery in 2021, but, the road back to full recovery will be long and difficult.”

Blood is Thicker Than Water: Living Near White Rock Lake Means Protecting Dallas’ Most Popular Asset (And Property Values, Too)
Completely Renovated Midcentury Cottage Near Downtown Garland
If Norman Rockwell Were a Single Mom, He’d Buy This Storybook 1923 Lakewood Tudor
This Lower Greenville Condo Is The Stuff Daydreams Are Made Of
Rare Buckner Terrace Four Bedroom Completely Updated
TAGGED:Construction StartsCOVID-19Dallas real estate newsDodge Data & Analytics
Share This Article
Facebook Email Copy Link Print
Previous Article Your Lawn Watering and Fertilizing Questions Answered by Lawns of Dallas
Next Article Live The Drama of This Dynasty Star’s Manhattan Apartment
Popular News
Jeffrey Dungan Architecture

Warning: These Clayton Designer Series Tiny Homes are Addictive

Who Commutes the Longest in North Texas? You’d Have to Hunt For It
Lakefront Living Looks Lovely in These Three Homes, Repped by Ebby Halliday
Toilet Seats With a NightLight? Pure Air Build Into the Commode? The Lifestylist List’s Favorites from 2015
Where Do We Keep All Our Stuff? Study Cites Dallas-Fort Worth as a Self-Storage Force
about us

DaltxRealEstate.com is the largest real estate blog and the only one in North Texas.

Links

  • Privacy Policy
  • Terms of Service
  • Contact Us
  • Paid Guest Post Submission
  • Real Estate Glossary

Categories

  • Commercial Real Estate
  • Home Inspection
  • East Dallas
  • Monday Morning Millionaire

Get Involved

  • Advertise With Us
  • Write for Us: Submit Guest Post

Find Us on Socials

© DALTX. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?