2012 West South Central Regional Forecast

2012 West South Central Regional Forecast

Arkansas • Louisiana • Oklahoma • Texas

Texas is enjoying much of the construction activity in this region, with big projects underway at several hospitals, airports, office towers and military bases, and some of the largest increases in multi-family construction in the United States. The hospital projects now underway at the University Hospital Medical Center in San Antonio, 2012 West South Central Sales ForecastUniversity Southwestern Medical Center in Dallas, and Carl R. Darnall Army Medical Center in Fort Hood together total over a $1 billion in construction value, according to McGraw-Hill Construction. San Antonio, Houston and Dallas-Fort Worth are among the leading metros in multi-family construction, with approximately 9,000 building permits for new housing units. Houston is also home to the new $160 million ExxonMobile campus. Outside of Texas, Google plans to add to its recently opened $600 million data center, and New Orleans has several hurricane restoration projects underway. One downside of the region's construction scene is the high office vacancy rates in Dallas (26%), Oklahoma City (27.3%) and San Antonio (23.9%), as reported in 2Q by Grubb & Ellis.

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