D-FW a top ranking hotel and retail market

Dated: 03/10/2019

Views: 84

D-FW is a top ranking market for new hotels and retail buildings.  Interested in buying, selling, or leasing in the area?  Contact me!  www.michelleforemanrealtor@gmail.com 

Michelle Foreman

Fourth Generation Realtor, Texas Urban Living

C: 214-394-2487

michelleforemanrealtor@gmail.com

www.michelleforemanrealtor.com

D-FW a top 2019 market for hotel and retail building

Dallas-Fort Worth was one of the country's top construction markets in 2018, with more than $20 billion in project starts.

And this year, the D-FW area is expected to be one of the biggest metro areas for new retail and hotel buildings, according to a report by commercial property firm JLL.

D-FW is ranked third nationally for 2019 hotel construction, based on a JLL analyst estimate. The 7,454 new rooms on the way at the start of the year represent 5 percent of the nationwide building total.

JLL forecasts that D-FW will be the third busiest metro in the country for retail building this year, with 3.3 million square feet being built at the start of the year.

In 2018, the country saw more than a 5 percent increase in building and that's continuing into this year, JLL's report says.

"All forward indicators for construction are still flashing green," said Todd Burns, president of project and development services for JLL's Americas division. "However, a year with growth equal to that of 2018 would be considered a success, given concerns of a broader economic slowdown."

Nationwide construction costs increased by 3.4 percent last year, ahead of the overall 1.9 percent inflation rate.

"Building costs will continue to increase in 2019 but at a slower rate than 2018," the report said. "This reflects an expected cool down in material pricing but the surging cost of labor."

U.S. construction spending in 2018 totaled $1.3 trillion. And more than 1.63 million people worked in the sector.
Info taken from http://link.dallasnews.com/index.php?action=social&chash=4ea06fbc83cdd0a06020c35d50e1e89a.864&s=908af375c85b2716e02bd0606eb81c82
Blog author image

Michelle Foreman

Michelle Foreman isn't one to focus solely on getting the job done but instead on getting the job done RIGHT. Michelle, a Fourth Generation Realtor, is certified as both a Senior Real Estate Speciali....

Latest Blog Posts

Help! My Property taxes!

  "All these people at the county just keep raising my property value!"  "REALTORS must be happy.  The county keeps raising the values, so they're getting great paychecks." 

Read More

Which salary is needed to purchase a house?

Interested in buying, selling, leasing, or just have real estate-related questions in general?  I would love to be a resource!Michelle ForemanFourth Generation Realtor, Texas Urban LivingC:;

Read More

Home Remodeling is a multi-BILLION dollar market!

Interested in home remodeling and have some questions?  Contact me, I would love to be a resource for you.  Interested in buying, selling, or leasing?  I can assist with that also

Read More

Is DFW becoming a home buyers' market?

Is North Texas becoming a home buyer's market?  Info is below.  Are you looking to buy, sell, lease, or just have real estate-related questions?  I would love to be a resource

Read More