SoFla construction starts jump in November

Residential construction starts rose 36%, commercial rose 47%

Dec.December 27, 2018 03:30 PM

(Credit: iStock)

Construction starts in South Florida rose in November, as both residential and commercial sectors saw increases on a year-over-year basis.

According to Dodge Data & Analytics, last month’s total building activity spiked 41 percent, up to more than $866 million. Compared to the same month last year, residential construction increased 36 percent to $417.9 million. Commercial construction also increased, up 47 percent, to $448.9 million in November.

On a year-to-date basis, South Florida construction starts rose 14 percent to $11.9 billion. Non-residential held steady and remained flat at $5.3 billion. However, residential starts increased 28 percent to $6.5 billion, up from $5.1 billion during the same period last year, and already outpacing last year’s total of $5.1 billion.

A strong shift toward multifamily construction is helping lift spending amid a condo market slowdown. But despite the increase in residential building (which includes multifamily), federal data suggests the apartment boom may be waning thanks to a consecutive monthly decline in building permits.

Commercial construction includes office, retail, hotels, warehouses, manufacturing, educational, healthcare, religious, government, recreational, and other buildings, while residential includes single-family and multifamily housing, according to the report.

Related Articles

William Dabbs

Contractor guilty of manslaughter in fatal shooting of his boss

Rendering of Missoni Baia with a concrete truck and Vlad Doronin (Credit: Getty Images and iStock)

5,800-ton concrete pour set for Missoni Baia condo tower

2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

From left: Andrea and Renzo Rosso

Diesel family dishes on Wynwood condo project

One Ocean

Allegations of shoddy construction pile up at Related’s One Ocean

Miami beach (Credit: iStock)

Hurricane Dorian spared South Florida but will still cost developers and contractors

A satellite image of Hurricane Dorian (Credit: Getty Images, iStock)

As Hurricane Dorian barrels toward South Florida, developers and builders prepare

State report finds open gas valve fueled building explosion at Plantation shopping center

State report finds open gas valve fueled building explosion at Plantation shopping center