Rogers O’Brien: DFW Update
DFW continues to see significant interest in the following four sectors: corporate offices, senior living, high-rise multifamily and mixed-use retail, says Rogers O’Brien (R-O) SVP John Carver. The firm is working on projects in all four of these sectors, ranging from $25M to $110M. John adds that, in particular, North Texas continues to be a very active place for corporate relocations and general population growth. That’s why we are seeing multifamily and mixed-use projects continue to grow there. Although ground-up healthcare projects have slowed a bit in the last year, John continues to see a significant amount of activity in expansions and renovations in existing healthcare facilities, a sector where R-O has a significant presence. The biggest challenge, according to John, is a very busy subcontractor market that challenges the resources required to build projects. Secondly, because subcontractors are so busy, the competitiveness in pricing makes it difficult to meet the financial goals that clients have identified. It’s become a more daunting task than it was only a few years ago. For more information on our Bisnow partner, click here.