Dive Brief:
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Residential projects account for most of the high-rise construction in seven of the nine cities surveyed for a new North American “crane index,” which tracks the number of fixed cranes in major cities.
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The first North America biannual index by Rider Levett Bucknall shows that most of the cranes dotting skylines in Boston, Chicago, Denver, Honolulu, Los Angeles, New York and Seattle are in service for condominium, apartment and mixed-use residential projects. The number of cranes in use in Chicago decreased between August and November 2014, but increased in all of the other cities.
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Commercial and mixed-use construction dominates in Phoenix and San Francisco, where building for the hospitality, healthcare and education industries is prevalent. The number of cranes increased in San Francisco during those three months and held steady in Phoenix, the report said.
Dive Insight:
The crane count has led researchers at the global property and construction consulting practice to predict an increase in large-scale construction projects in those cities throughout the year. Many market sectors have started to see increases in construction recovery, but the residential market continues to lead the way. RLB’s Australian practice introduced the "crane index" in 2012 to gauge construction activity. It now has grown to include New Zealand, Southern Africa, the Middle East and North America.