Multifamily Report

Job site spending for apartment, condominium projects dips 15%
August 11, 2010

Multifamily housing starts are 6% above a year ago, but job site construction spending is down 15%. This discrepancy comes from builders having slowed construction schedules while waiting for buyers. Also, the market mix has shifted toward modest apartments and condos used as principal residences from the larger, second-home developments.

Down the road, multifamily starts will increase 9% from mid-2008 to the end of 2009, and construction spending will rise 13% to cover rising project costs.

Growth in the multifamily market will be restrained by the improving single-family home market and the huge oversupply of condos in the Southeast and Southwest.

Multifamily activity in New York City and other large urban markets will increase much faster than the overall economy in 2009 as increased hiring boosts the apartment market and the recognition that home prices have hit bottom emboldens the condo market. For multifamily markets like Las Vegas and Miami, foreign buyers will still see those destinations as attractive.

Top 20 multifamily design firms
(2007 billings in $ millions)


Company Billings
Source: 2008 Giants 300 survey Note: This ranking is based on firms that made the Giants 300 list.

1. Arup 77.00
2. Parsons Brinckerhoff 54.80
3. CH2M HILL 42.02
4. RMJM 24.95
5. Smallwood, Reynolds, Stewart, Stewart 23.38
6. Arquitectonica 21.83
7. HOK 21.34
8. Mithun 20.41
9. Niles Bolton Associates 18.84
10. RTKL Associates 18.02
11. Ingenium Group 14.39
12. Simpson Gumpertz & Heger 13.67
13. Martin Associates Group 12.98
14. Wiss, Janney, Elstner Associates 12.81
15. Opus Group, The 12.73
16. Looney Ricks Kiss Architects 12.14
17. HKS 11.02
18. Perkins Eastman 10.20
18. Perkins+Will 10.20
20. Cubellis 8.94

Top 20 multifamily contractors
(2007 construction value put in place in $ millions)


Company Value put in place
Source: 2008 Giants 300 survey Note: This ranking is based on firms that made the Giants 300 list.

1. Turner Corp., The 1,128.02
2. Webcor Builders 1,034.23
3. Clark Group 1,025.19
4. JE Dunn Construction Group 711.50
5. Hunt Building Co. 686.36
6. Suffolk Construction 683.04
7. Yates Cos., The 670.28
8. Balfour Beatty Construction 654.90
9. Opus Group, The 545.58
10. Paric Corp. 466.93
11. Walsh Group, The 462.57
12. Swinerton 455.00
13. PCL Construction Enterprises 437.21
14. Structure Tone 433.45
15. James McHugh Construction 416.37
16. JPI 388.00
17. HRH Construction 347.13
18. Moss & Associates 306.70
19. Brasfield & Gorrie 291.62
20. Hoffman Construction 237.60

         
 

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