The greater Houston region registered a big increase in construction activity in October, with the value of new nonresidential projects more than doubling over the year, according to a new Dodge Data & Analytics report.
The total value of construction projects started in the Houston area in October surged 51 percent year-over-year to $1.7 billion. Of that, the nonresidential component totaled $736 million, up from $276 million the year earlier. New residential projects, meanwhile, totaled $963 million in October, up 14 percent year-over-year from $845.5 million.
October’s $1.7 billion total is in line with the historic five-year average of $1.5 billion per month, according to the Greater Houston Partnership.
Dodge identified several large projects that got started in October: UT Health Science Center/Continuum of Care Campus at 1851 Crosspoint, valued at $125 million; Memorial City Apartments, at 9757 Katy Freeway, valued at $100 million; and the Proton Therapy Center, at 7450 Bertner Ave., valued at $54 million.
In its monthly building update, the Greater Houston Partnership noted other recent projects, including a $55 million project by Crown Castle International and a $10 million elementary school for Yes Prep Public Schools. Additionally, Marquette Cos. and Origin Investments broke ground on an eight-story apartment complex at 2404 Navigation Blvd. east of downtown in October.
So far this year, building starts totaled $15.5 billion through October, a 15 percent drop from the $18.2 million in projects started during the first 10 months of 2018.
Dodge tracks construction starts in a region covering Austin, Brazoria, Chambers, Fort Bend, Galveston, Harris, Liberty, Montgomery, San Jacinto and Waller counties. Nonresidential projects include office, retail, hotels, industrial, educational, health care, religious and other buildings. Residential projects include homes and apartments.