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Alliance Residential had 13,480 units in 2022 which unseated Greystar to take the top multi-residential firm in the United States. Greystar performed well but not well enough in 2022 with 3,000 less units, coming in at 11,351 unit starts.

Overall, 2022 was a an exceptional year for multi-residential developers with 533,200 units starting construction. According to the the US Census Bureau, this is a 15.4% increase over 2021. Greystar was one of the few multi-residential developers to actually show a decrease in units overall, 

While single family residential permits have softened  in the last year and we are hearing from from contractors that construction in Chicago is trending downward, there are still some bright spots. 

Construction is an industry faced with rising costs, labor issues, material issues, and in need of solutions that improve razor thin margins. Could AI be the solution?

By now, most of us have heard of the latest going on in artificial intelligence or AI. Recently, a group of reporters were invited to try a developmental version of Microsoft's Bing driven by AI. The new search technology, based on ChatGpt, had some surprising results including suggesting that one reporter leave his wife.

According to an article on Bloomberg, the construction market is so tight that a firm in Montana is using a private jet to fly construction workers to job sites.

Continuing on from yesterdays post, there are 3 trends that we have come across that slow down the construction process. The first trend we see is the level of...

There is an opinion piece in the New York Times titled "The Story Construction Tells About Construction Is Disturbing."  The Op Ed goes on to say,

"Here’s something odd:...

Here is a building code trend to expect in 2023. Have you heard of Building Performance Standards or BPS?

According to Dodge Reports, nonresidential construction starts plunged 25%. According to the report, "Nonresidential building and nonbuilding starts fell 25% and 21% respectively in November from the previous month, while residential starts dropped 5%, according to the report."

Ryan Companies partnered with Phase 1 to complete a distribution center that serves 70 Whole Foods stores with room for future expansion.

When Ryan Companies and Amazon wanted a partner for permitting on a time sensitive project, they went to Phase 1 to get the job done.