In The Pipeline: 2009’s Top Construction and Development Stories
A Month-By-Month Look Back at Projects and Developments — and in Many Cases, Postponements and Cancellations – In Commercial Construction and Development Over the Past 12 Months
For most commercial real estate developers, 2009 can’t end soon enough. In the tight financing market, credit was available for only the most fail-safe construction and development projects.
Many planned developments fell out of the pipeline as plunging demand for office, industrial, retail, multifamily and hotel properties forced some builders into default and caused others to delay or scrap their projects and development programs. Record or near-record negative net absorption and rising vacancies in most property categories recorded by CoStar Group virtually paralyzed business expansion and property development.
Amid the development gloom and doom, however, were tendrils of activity in certain property niches: medical office buildings, hospitals, data centers, government buildings, and student and senior housing.
Over the last 12 months, CoStar’s In The Pipeline has provided a window into the trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Let’s look back at some of the most widely viewed columns and items of 2009.
by Randyl Drummer for CoStar