market focus the multifamily residential sector has expanded … · 2015. 11. 11. · deborah berke...

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PROJECT: 70 Pine Street ARCHITECTS: Stephen B. Jacobs Group, Deborah Berke Partners (interiors) LOCATION: New York CIty PROJECT: 626 First Avenue ARCHITECT: SHoP Architects LOCATION: New York City PROJECT: 220 Central Park South ARCHITECTS: Robert A.M. Stern Architects, SLCE Architects LOCATION: New York City PROJECT: 50 West ARCHITECT: Jahn, SLCE Architects, Thomas Juul-Hansen (interiors) LOCATION: New York City PROJECT: The Greenwich Lane ARCHITECT: FXFOWLE, Aero Studios (interiors) LOCATION: New York City $390 MILLION $395 MILLION ARCHITECTURAL RECORD OCTOBER 2014 The multifamily residential sector has expanded more rapidly than the single-family housing market in recent years. The growth has been fueled, in part, by a strong demand for rental units. Multifamily-Housing Starts by Region In addition to U.S. total and 2014 forecast figures perspective stats 0 02 01 00 03 05 04 06 08 07 11 12 13 14 10 09 THOUSANDS OF UNITS 200 400 600 NORTHEAST MIDWEST SOUTH WEST TOTAL U.S. FORECAST McGraw Hill Dodge Analytics tracks projects from predesign through construction to capture hard construction costs, square footage, and other key statistical information. Mixed-use projects are ranked only on the basis of the construction value of their residential components. 1 SLCE Architects 2 Humphreys & Partners Architects 3 Goldstein Hill & West Architects 4 Wallace Garcia Wilson Architects 5 Elkus Manfredi Architects Top 5 Design Firms Ranked by multifamily construction starts 1/2011 through 7/2014 Top 5 Projects The Dodge Index for Multifamily Construction 7/2013–7/2014 The Dodge Momentum Index is a leading indicator of construction spending. The information is derived from first-issued planning reports in McGraw Hill Construction’s Dodge Reports database. The data lead the U.S. Commerce Department’s nonresidential spending by a full year. In the graph to the right, the index has been shifted forward 12 months to reflect its relationship with the Commerce data. MOMENTUM INDEX EXPERIENCES UPWARD TICK In August, the Dodge Momentum Index made a modest gain to 118.8, up 0.2% from the previous month. The slight improve- ment follows a 5.7% drop between June and July. 03 04 05 06 07 08 09 10 11 12 13 14 15 1/2015 0 100 200 300 400 0 50 100 150 200 MONTHLY DETAIL 8/2014 –– 8/2015 U.S. COMMERCE DEPARTMENT DODGE MOMENTUM INDEX INDEX (2000 = 100) 0 60 40 20 100 80 INDEX (2005 = 100) 2013 2014 M A J M F J D N O S A J J Ranked by multifamily construction starts 1/2013 through 7/2014 MARKET FOCUS MULTIFAMILY HOUSING 50 West, New York City; Jahn, SLCE Architects, Thomas Juul-Hansen. $450 MILLION $425 MILLION $400 MILLION 34 RENDERING: © DBOX Data from McGraw Hill Dodge Analytics The index is based on seasonally adjusted data for U.S. multifamily housing starts. The average dollar value of projects in 2005 serves as the index baseline. 1 NEW YORK CITY 16,455 WASHINGTON 4,480 LOS ANGELES 3,572 MIAMI 3,474 BOSTON 3,346 Ranked by total multifamily construction starts 1/2013 through 7/2014 Top Metro-Area Markets REGION $MILLIONS 2 3 4 5

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Page 1: MARKET FOCUS The multifamily residential sector has expanded … · 2015. 11. 11. · Deborah Berke Partners (interiors) LOCATION: New York CIty 4 PROJECT: 626 First Avenue ARCHITECT:

PROJECT: 70 Pine StreetARCHITECTS: Stephen B. Jacobs Group, Deborah Berke Partners (interiors)LOCATION: New York CIty

PROJECT: 626 First AvenueARCHITECT: SHoP ArchitectsLOCATION: New York City

PROJECT: 220 Central Park SouthARCHITECTS: Robert A.M. Stern Architects, SLCE ArchitectsLOCATION: New York City

PROJECT: 50 WestARCHITECT: Jahn, SLCE Architects, Thomas Juul-Hansen (interiors)LOCATION: New York City

PROJECT: The Greenwich LaneARCHITECT: FXFOWLE, Aero Studios (interiors)LOCATION: New York City

$390 MILLION

$395 MILLION

ARCHITECTURAL RECORD OCTOBER 2014

The multifamily residential sector has expanded more rapidly than the single-family housing market in recent years. The growth has been fueled, in part, by a strong demand for rental units.

Multifamily-Housing Starts by RegionIn addition to U.S. total and 2014 forecast figures

perspective stats

0020100 03 0504 06 0807 1 1 12 13 141009

THOUSANDS OF UNITS

200

400

600

NORTHEAST MIDWEST SOUTH WEST TOTAL U.S. FORECAST

McGraw Hill Dodge Analytics tracks projects from predesign through construction to capture hard construction costs, square footage, and other key statistical information. Mixed-use projects are ranked only on the basis of the construction value of their residential components.

1 SLCE Architects

2 Humphreys & Partners Architects

3 Goldstein Hill & West Architects

4 Wallace Garcia Wilson Architects

5 Elkus Manfredi Architects

Top 5 Design FirmsRanked by multifamily construction starts 1/2011 through 7/2014

Top 5 Projects The Dodge Index for Multifamily Construction 7/2013–7/2014

The Dodge Momentum Index is a leading indicator of construction spending. The information is derived from first-issued planning reports in McGraw Hill Construction’s Dodge Reports database. The data lead the U.S. Commerce Department’s nonresidential spending by a full year. In the graph to the right, the index has been shifted forward 12 months to reflect its relationship with the Commerce data.

MOMENTUM INDEX EXPERIENCES UPWARD TICKIn August, the Dodge Momentum Index made a modest gain to 118.8, up 0.2% from the previous month. The slight improve-ment follows a 5.7% drop between June and July.

03 04 05 06 07 08 09 10 1 1 12 13 14 15

1/ 2015

0

100

200

300

400

0

50

100

150

200

MONTHLY DETAIL8/2014 –– 8/2015

U.S. COMMERCE DEPARTMENT DODGE MOMENTUM INDEX

INDEX (2000 = 100)

0

60

40

20

100

80

INDEX (2005 = 100)

2013 2014MA JMFJDNOSAJ J

Ranked by multifamily construction starts 1/2013 through 7/2014

MARKET FOCUSMULTIFAMILY HOUSING

50 West, New York City; Jahn, SLCE Architects, Thomas Juul-Hansen.

$450 MILLION

$425 MILLION

$400 MILLION

34

RE

ND

ER

ING

: ©

DB

OX

Data from McGraw Hill Dodge Analytics

The index is based on seasonally adjusted data for U.S. multifamily housing starts. The average dollar value of projects in 2005 serves as the index baseline.

1 NEW YORK CITY 16,455

WASHINGTON 4,480

LOS ANGELES 3,572

MIAMI 3,474

BOSTON 3,346

Ranked by total multifamily construction starts 1/2013 through 7/2014

Top Metro-Area Markets

REGION $MILLIONS

2

3

4

5