Just about anywhere you look in Texas’ largest cities, there are signs of new construction. But that doesn’t mean everything is hunky dory. In fact, builders are jumping through ever-changing hoops to bring a new product to the market due to a number of factors.
“We have fought through COVID, oil prices tanking and the over-built industrial sector, which we have referred to as the ‘triple whammy’ in Houston,” says Radie Stroud, Vice President and General Manager for Alston Construction Company’s Houston office. However, we have strong tenant demand that seems to be driving growth with no end in sight.”
Jerry Yan, Project Manager for Grandview Construction, says the expansion
of Greater Houston brought an increase in employment and in wages for those with experience.
“The Houston area alone has seen a spike in commercial real estate construction over the last decade,” he says. In Dallas, Alston’s Vice President and General Manager Scott Matthews calls the construction market odd.
“Some developers are running to the sidelines, shedding land and shuttering projects while other developers are running full steam ahead, seizing the opportunity provided by competition standing by,” he adds. “There seems to be no consensus in the direction of the market other than it’s changing.” Click to read more at www.rednews.com.