World Fence News

May 2018

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86 • MAY 2018 • WORLD FENCE NEWS Snapshots of commercial, multifamily construction activity in major U.S. metro areas in 2017 continued from page 80 and multifamily construction starts in 2017. Multifamily housing had soared 80% in 2016, reflecting the start of such Chicago projects as the $780 million multifamily portion of the $900 million Wanda Vista Tower and the $500 million One Bennett Park Tower. For 2017 multifamily housing re- treated 24%, with six projects valued at $100 million or more that reached groundbreaking compared to nine such projects in 2016. The largest 2017 multifamily proj- ects in Chicago were the $650 million One Grant Park (phase 1), the $360 million Wolf Point East Tower, and the $280 million One South Halsted Apartment Tower. Commercial building dropped 28% in 2017 following a 10% gain in 2016, with decreased activity for all the commercial project types. Despite the slower pace for com- mercial building starts in 2017, there were several noteworthy projects that reached groundbreaking, including the $500 million renovation of the Willis Tower in Chicago (with this allocation by project type – office building at $400 million and stores at $100 million), the $211 million CH3 data center in Wood Dale, and a $93 million Amazon fulfillment center in Aurora. The Seattle metropolitan area saw its commercial and multifamily construction start total for 2017 hold steady with its 2016 amount. While multifamily housing re- treated 10%, commercial building improved 8% following its 50% jump in 2016. There were four large office proj- ects in Seattle that were entered as construction starts in 2017 – the $331 million office portion of the $570 million Rainier Square mixed-use building, a $280 million portion of the Amazon Block 21 development, a $228 million office tower, and the $163 million renovation of the Expe- dia Seattle Campus. In addition, warehouse construc- tion starts strengthened in 2017, helped by a $93 million Amazon distribution center in Sumner and the $80 million Blair Logistics Center in Tacoma. Although down moderately, multifamily housing in 2017 did see groundbreaking for several large proj- ects in Seattle, including the $152 mil- lion 1200 Howell St. apartment tower, the $138 million multifamily portion of the Rainier Square mixed-use building, and the $111 million multi- family portion of the $175 million We- Work Seattle mixed-use tower. The Boston metropolitan area fell 26% in 2017, after seeing its com- mercial and multifamily construction start total soar 53% in 2016. Commercial building in 2016 had climbed 59%, aided by the start of the $1.7 billion Wynn Casino in Everett, with this allocation by project type – hotel at $465 million and commercial garage at $210 million. (The remaining portion at $975 million was casino and theater space, which is designated by Dodge as amusement-related and falls in the in- stitutional building sector instead of commercial building.) Commercial building in 2017 dropped 22%, including a 56% plunge for hotels. New office starts in 2017 were down 19%, although the year did in- clude groundbreaking for the $200 million 145 Broadway commercial building in Cambridge. Multifamily housing retreated 29% in 2017, relative to the strong amount reached in 2016 with a 49% hike, lifted by such projects that year as the $625 million Seaport Square multifamily complex, the $225 mil- lion Clippership Wharf multifamily complex, and the $209 million Bul- finch Crossing multifamily tower. The 2017 multifamily volume was still 5% above its 2015 dollar amount, and included six projects valued at $100 million or more, led by these projects in Boston – the $200 mil- lion Residences at 399 Congress St. apartment tower and the $177 million multifamily portion of the $200 mil- lion 575 Albany St. mixed-use devel- opment. Dodge Data & Analytics is North America's leading provider of analyt- ics and software-based workflow inte- gration solutions for the construction industry. The company's construction project information is the most com- prehensive and verified in the indus- try. For additional information from Dodge Data & Analytics, visit the web site www.construction.com. World Fence News – Your No. 1 Source of Fencing Information! Request a FREE printed copy or digital version of our complete Selection Guide today. ™ INSTALL OUR CHAIN LINK FENCE WITH FACTORY INSERTED SLATS AND SAVE TIME AND MONEY! 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