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Construction starts in Houston totaled $1.23 billion in December, a 25.7 percent increase from $0.98 billion in December ’17, according to the latest report from Dodge Data & Analytics. Residential construction activity decreased 12.8 percent since last December, while nonresidential activity more than doubled. Dodge did not report what caused the increase in nonresidential construction activity.
For the full year, construction starts totaled $19.9 billion, up 9.1 percent from $18.3 billion in ’17. The 12-month total peaked at $30.9 billion in February ’15, the height of the chemical plant construction boom. Since January ’16, the 12-month total has held within a narrow range—$16.2 billion to $19.2 billion. However, with a recent uptick in chemical plan construction the 12-month total began to trend up again.
Notable projects that started construction in December ’18 include the River Oaks Baptist School $65-million expansion, the Village at Katy 84-acre master plan community and the Woodlands’ new 12-acre retail center Creekside Park West.
Patrick Jankowski, CERP
Senior Vice President, Research
Melissa Verhoef, PhD
Construction starts in Houston totaled $1.23 billion in December '18