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Metro Houston’s construction starts totaled $16.0 billion in the 12 months ending October ’19, down 21.0 percent from $20.3 billion for the comparable period in ’18, according to the latest data from Dodge Data & Analytics. Nonresidential activity fell 29.2 percent to $6.4 billion, while residential activity decreased 14.5 percent to $9.6 billion. The 12-month total peaked at $30.9 billion in February ’15, the height of the chemical plant construction boom. Year-to-date, construction starts were down 24.7 percent from $18.1 billion in October ’18 to $13.6 billion for the same period in ’19.
Construction starts were up in October ’19, rising 51.5 percent from $1.1 billion in October ’18 to $1.7 billion in October ’19. Both nonresidential and residential construction starts increased, with non-residential rising 166.8 percent and residential increasing 13.9 percent. Dodge did not report what caused the respective increase in construction activity, although the October ’19 total of $1.7 billion is in line with the historic five-year average of $1.5 billion per month.
Construction activity in October ’19 included an undisclosed project by Crown Castle International with an estimated value of $55 million. Other construction included an elementary school project by Yes Prep Public Schools valued at $10 million. This is Yes Prep’s first-ever elementary school. Mixed-use development of note in October included a mid-rise apartment complex just east of downtown Houston. Naperville, Illinois-based Marquette Cos. and Chicago-based Origin Investments started construction on the 300-unit project described as a nine-story development with 18,000 square feet of retail space for a restaurant and café.
Berina Suljic Cologlu
Patrick Jankowski, CERP
Senior Vice President, Research
Construction starts in Houston totaled $1.7 billion in October '19