South Florida Construction 2016- Year in Review

South Florida Construction 2016- Year in Review

By | December 19th , 2016

It’s been quite a busy year for the construction industry in 2016. Homes, hotels, condos, apartments and retail establishments all contributed to a huge rise in the construction market. South Florida had so many projects break ground in 2016 that development costs increased from last year due to the high demand for construction labor workers.

Over $9.3 billion in construction costs measured by Dodge Data & Analytics for the first 10 months of the year, improving over $1 billion from last year. Oddly, the projection shows a slow down in September, but picked back up in October, largely due to projects in Miami, Sunny Isles, West Palm Beach and Fort Lauderdale.

Considering how great 2016 was for the construction industry, we’re excited to see where the New Year takes us!