Top 75 Construction Starts In The Midwest
According to ENR Midwest, multi-family housing starts are increasing throughout the Midwest thanks to Millenials’ reluctance to commit to home ownership and other major project types are under way as well, but the state of Illinois and the city of Chicago are still struggling. ENR Midwest says:
“Some 17 high-rises, nine of which broke ground last year, currently are under construction in Chicago. The majority are apartment buildings, along with a handful of hotels and office towers. It’s been years since so many cranes have swung across the skyline, but Ken Simonson, chief economist with Arlington Va.-based Associated General Contractors of America, isn’t prepared to concede that “either Chicago or Illinois has turned a corner yet.
First-time buyers typically account for 40% of U.S. home sales,” says Anirban Basu, chief economist with Washington, D.C.-based Associated Builders and Contractors. “More recently, they’ve accounted for less than 30%.” Having watched home values rise, and then collapse, “many millennials have no interest in home ownership or prefer the geographic mobility afforded by apartments,” Basu says.”
Click here to see a list of the top 75 construction project starts in the Midwest: http://midwest.construction.com/midwest_construction_projects/2015/Top-Starts/001-100.asp