SoFla construction starts plummet amid coronavirus

Residential construction fell 57 percent year-over-year, to $298M

Miami /
May.May 01, 2020 08:45 AM
(Credit: iStock)

(Credit: iStock)

Construction starts across South Florida plummeted in March, as coronavirus impacted development plans and supply chains.

Nonresidential construction starts fell 47 percent to $262.7 million in March, year-over-year, according to Dodge Data & Analytics. Residential construction dropped 57 percent to $298.4 million, during the same timeframe.

Overall, building construction fell 53 percent to $561 million in March, compared to March 2019, according to the report.

Nonresidential buildings include office, retail, hotels, warehouses, manufacturing, educational, healthcare, religious, government, recreational. Residential buildings include single-family and multifamily housing.

Construction is still deemed an essential business in Florida and is allowed to continue, but some contractors have said that they are experiencing issues finding subcontractors and getting supplies. Some projects in the early stages of planning are now delayed as a result of coronavirus.

Two large Miami Beach projects were ordered to suspend construction in early April after failing to comply with CDC guidelines.


Related Articles

arrow_forward_ios
(The Real Deal illustration with Getty Images)
As Hurricane Ian approaches, builders secure Florida sites
As Hurricane Ian approaches, builders secure Florida sites
Reid J. Boren, James W. Harpel, Taylor Collins, and Brad Meltzer (Two Roads Development)
Two Roads hires Plaza Construction’s Brad Meltzer
Two Roads hires Plaza Construction’s Brad Meltzer
Tate Capitals' Jimmy Tate and 801 Seabreeze Boulevard in Fort Lauderdale (Tate Capital, Google Maps)
Developer Jimmy Tate’s proposed Bahia Mar project faces more controversy with filing of new lawsuit
Developer Jimmy Tate’s proposed Bahia Mar project faces more controversy with filing of new lawsuit
Jules Trump and Suffolk CEO and chairman John Fish with a rendering of the Estates at Acqualina (Getty, Suffolk, Avra)
Trump Group, Suffolk Construction sue each other over Estates at Acqualina
Trump Group, Suffolk Construction sue each other over Estates at Acqualina
The $125 million Grove Central project going up next to the Coconut Grove Metrorail Station (RSM Design)
Top 10 development projects in Miami-Dade in 2021
Top 10 development projects in Miami-Dade in 2021
From left: Alejandro Diaz Bazan, David Solomon, Brett Harris and Ana Bozovic (Andian Group, Brett Harris Homes, Miami Girls, iStock)
Build it and they will come: Resi agents join the South Florida spec home development craze
Build it and they will come: Resi agents join the South Florida spec home development craze
From left: Pedro Villar, owner of Aloft Miami Brickell, along with his attorney Joe Pack (Newstar Media)
Aloft Miami-Brickell exits bankruptcy, staves off foreclosure
Aloft Miami-Brickell exits bankruptcy, staves off foreclosure
Surfside collapse defendants deflect responsibility in new court docs
Surfside collapse defendants deflect responsibility in new court docs
Surfside collapse defendants deflect responsibility in new court docs
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...