California City Scoop: Construction Starts in Los Angeles
LA area construction spending expected to increase 10% this year
Non-residential work forecast to rise 16% in 2019 despite weakness in institutional activity.
*Construction starts in City Scoop provided by Dodge Data & Analytics, the premier project information source in the construction industry. For more construction starts or general information on Dodge products and services, call 1-800-393-6343 or visit the website at www.construction.com
City Grill
Gust Soteropulos
Senior VP and General Manager
Webcor
The L.A. market continues to forecast a large construction start volume for the next four years. But growth rates will begin slowing and remain flat in the coming years. “We have been on a great run, but we are seeing rising interest rates, a slowing of foreign investors, rising construction costs and a shortage of talent.”
The 2028 Olympics, however, will keep construction moving over the next nine years. Soteropulos sees a significant push to complete projects, particularly infrastructure, affordable housing and tech company growth in the region.
Firm in Focus
The PENTA Building Group
550 S. Hope St. #2640, Los Angeles
LA Director: Paul Dutmer
Employees: 74 in Southern California
Founded: 2000
What’s New: Current projects include Iovine Young Hall and track and field projects at USC. PENTA also completed the Loma Linda Cancer Center Pharmacy remodel in 2018.
