Home > Uncategorized > TWO TEXAS CITIES RATE AMONG TOP 3 IN THE U.S.FOR NEW CONSTRUCTION

TWO TEXAS CITIES RATE AMONG TOP 3 IN THE U.S.FOR NEW CONSTRUCTION

Forbes has released a list of the top cities in the USA for new construction. Two of the top three cities are located in the Lone Star State, Houston and Dallas. An historic Texas city makes the top 20.             

Forbes compiled the list with the help of McGraw-Hill Construction who sorted through building data for the nation’s Metropolitan Statistical Areas known as MSAs to find the 20 places “where the most money was spent on new construction in 2011.”

 

Forbes reports, “We looked at the dollar amount of new construction starts, or projects where ground has been broken and work begun, for structures that fall under the “Total Building” umbrella. Total Building includes single-family home construction, multi-family home construction, office space, retail space, warehouses, healthcare facilities, educational buildings, manufacturing plants and research facilities. We did not include money spent on public works projects such as bridges, streets and parks. Nor did we include electric utility construction.”

Forbes focused on construction starts, “because they are a leading indicator of economic activity and one that is commonly used by builders, developers and economists.”

Dallas and Houston are only beaten by New York City.

“New York City lands No. 1 on our list, with $17.2 billion worth of new construction in 2011. New York is home to one of the country’s biggest construction projects, the 16-acre, seven tower World Trade Center site that has bolstered Big Apple construction spending for years now. But last year it was joined by another large site, Gotham West, a massive $520 million residential project on Manhattan’s Far West Side slated for completion in 2014.”

Rounding out the top five:

5. Chicago, Illinois

4. Washington, DC

3. Houston, Texas

2. Dallas Texas

The following cities complete the top 20 starting at number 6 and appearing in descending order, Boston, Los Angeles, Phoenix, Seattle, Atlanta, San Francisco, Philadelphia, Denver, Miami tied with San Diego, Minneapolis, San Antonio, Salt Lake tied with New Orleans, and Portland.

Ethan Edwards, TheCypressTimes.com

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Categories: Uncategorized
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