In Temporary: U.S. Development Begins Slip in April as Housing Cools

0
118

Construction to replace the bridge deck on I-196 east across the Grand River in downtown Grand Rapids, Michigan. (Shutterstock)

Total housing starts in the United States fell 2 percent in April to a seasonally adjusted annual rate of $ 853.5 billion, according to Dodge Data & Analytics. Single family home construction saw a significant decrease after months of heavy activity, while both non-residential and non-built construction increased.

“The single-family home retreat was inevitable after showing exceptional strength last year,” said Richard Branch, chief economist at Dodge Data & Analytics. “Higher material prices, supply shortages and a shortage of skilled construction workers have had to keep pace with residential construction and will ultimately limit the ability of this sector to show the same rate of expansion this year as it was last year. Meanwhile, off-residence starts are stabilizing and should continue to heal throughout 2021. “

Here are some of the biggest projects in the US that kicked off in April:

The largest non-construction projects scheduled to lay the foundation in April was the $ 625 million Atkina solar energy project in Wharton County, Texas; the $ 530 million New York Energy Solution Transmission Project in Claverack, New York; and the $ 357 million North City Pure Water Facility in San Diego.

The largest non-residential construction projects are slated to break the ground in April It was a $ 1.2 billion warehouse conversion into an office project in New York City, the $ 530 million Mickey Leland International Terminal in Houston, and a $ 325 million Amazon office project in Bellevue , Washington.

The largest apartment buildings that laid the foundation stone in April were the $ 232 million Travis Residential Tower 1 in Austin, the $ 173 million mixed-use project at 241 West 28th Street in New York City, and the $ 165 million Union Square Tower in Somerville, Massachusetts.