That’s right! Seattle is back on top of the city high-rise development list (out of 14 top producing markets) with a survey-leading of 43 construction cranes. Many are surprised to see this increase with all of the uncertainty from the pandemic. The anticipation of a slowdown is on the horizon (as expected) as we move further along into fall and winter.
The abrupt slowing of economic activity makes it hard to forecast what a recovery might look like by many are optimistic with Seattle’s market. Of Seattle’s 43 crane projects, 29 are residential, 6 are mixed-use, 4 are commercial, 3 are civil, and 1 is health care.
The Crane Index survey results is as follows:
- Seattle – 43
- Los Angeles – 42
- Washington, D.C. – 38
- Portland – 27
- San Francisco – 24
- Denver – 18
- Phoenix – 16
- Chicago – 14
- Boston – 12
- New York – 12
- Honolulu – 8
- Las Vegas – 4
To read the full Puget Sound Business Journal article, click here.