STAT OF THE WEEK: Atlanta’s Growth and Growing Pains

30 Jun

Atlanta led the nation in construction cost increases in the last year, according to CBRE, the world’s largest commercial real estate services and investment firm (and my former employer). The city’s 3.8 percent spike more than doubled the national average.

Across the country, year-over-year construction spending during the first four months of 2016 increased 8.7 percent to $334.8 billion, according to the U.S. Census Bureau of the Department of Commerce.

On the housing side of the equation, Atlanta magazine asked this week: “Can residential builders keep up with Atlanta’s fast-growing population?” In Brookhaven, with our neighbor’s current house expansion project, the contractor for which was my referral, 40 percent of the houses on our block have been totally redeveloped or expanded (18 and six, respectively) in the last nine years.

 

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