Value of construction starts has dropped amid Covid-19 in most cities -- here's how Phoenix compares

Posted at 9:52 AM, Aug 18, 2020
and last updated 2020-08-18 12:52:11-04

A handful of major commercial development projects that began construction in the first half of 2020 propelled Phoenix to be one of only two major U.S. metros to see an increase in the value of construction starts, despite the coronavirus pandemic.

Phoenix had $2.8 billion worth of commercial and multifamily developments begin construction in the first half of the year, an 82% increase relative to the same time last year, according to a study done by Dodge Data & Analytics.

Of markets studied, only Phoenix and Detroit saw the value of construction starts increase over the same time in 2019.

Both of the highest-value projects to begin construction, the $300 million Pier 202 mixed-use development and the $200 million 100 Mill office tower, are under construction in Tempe.

Read more from the Phoenix Business Journal.