ENR California: LA construction growth to slow after “large construction start volume for the next four years”

ENR California says construction growth rates will begin slowing “and remain flat in the coming years” after a “large construction start volume for the next four 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 publication quoted Gust Soteropulos, Webcor’s senior vice-president and general manager, as saying.

Despite these challenges, the planned 2028 Olympics will support construction demand through the next nine years. Soteropulos suggests there will be a “significant push to complete projects, particularly infrastructure, affordable housing and tech company growth in the region,” ENR reports.