According to GlobalData, the value of the US construction market is forecast to grow by 2.0% in real terms in 2023, having decreased by 7.0% in 2022. A key growth market will be the infrastructure market, with output rising by 12.6% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.
Here are the top five retail building construction projects that commenced in the US in Q2 2023, according to GlobalData’s construction projects database.
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1. Mercy Center Development
The project involves the construction of a 19,054m2 five-shop building on 4.4ha of land in Gilbert, Arizona.
Construction work started in Q2 2023 and is expected to be completed in Q4 2025.
The aim of the project is to provide better office and hospitality facilities in the region.
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2. Bautista Apartments
The project involves the construction of two five-story buildings with a gross floor area of 46,451m2 in Tuscon, Arizona.
Construction work commenced in Q2 2023 and is expected to finish in Q3 2025.
The project is designed to acknowledge the unique status of the historic Santa Cruz River plain, an area with a history of settlement and agriculture that goes back several thousand years.
3. BLVD Retail Center
The project involves the construction of a 16m-tall, two-story retail center on 4ha of land in Las Vegas, Nevada.
Construction work started in Q2 2023 and is forecast to complete in Q2 2025.
The project aims for a diverse range of indoor and outdoor tenants to offer shopping and entertainment options in the region. Buy the profile here.
4. Cedar-Lee Meadowbrook Mixed-Use Complex
The project involves the construction of a 21,378m2 mixed-use complex on 2ha of land in Cleveland Heights, Ohio.
Construction work commenced in Q2 2023 and is expected to be completed in Q1 2025.
The project aims to provide new housing and make the Cedar-Lee district an even more compelling place to eat, shop, and live. Buy the profile here.
5. The Pass Mixed-Use Tower
The project involves the construction of a mixed-use tower comprising 335 units in Charlotte, North Carolina.
Construction work started in Q2 2023 and is expected to be completed in Q2 2025.
The project aims to provide better residential facilities for the people in the region.
For more details on the latest construction projects, buy the profiles here.
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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
