November 25, 2013
Bay Area Commercial Boom: San Francisco Second To Santa Clara
Spending on commercial real estate construction activity around the Bay Area this year is expected to top the record $6 billion mark set in 2000 and could reach as high as $6.7 billion by the end of 2013.
The Bay Area County with the most commercial construction activity is currently Santa Clara County which should cross the $2.1 billion mark by the end of the year, a total which doesn’t include the $1.3 billion Levi's Stadium project for the San Francisco 49ers.
Behind Santa Clara, San Francisco County should just miss the $2 billion mark which would be higher than in 2011 and 2012 but below the spending in 2010.
And at a projected $765 million in 2013, spending on commercial real estate construction in San Mateo County should be six times the amount in 2012 while the projected $681 million to be spent across Alameda and Contra Costa Counties in 2013 would be the lowest in five years.
First Published: November 25, 2013 9:15 AM
Comments from "Plugged In" Readers
If SF is a close second to Santa Clara Co., that says a lot. There's a big construction boom going in Silicon Valley right now. And of course the land area of SF is a lot smaller.
Posted by: The Milkshake of Despair at November 25, 2013 10:02 AM
Not only a smaller land area but less than half the population...
Posted by: mwsf at November 25, 2013 11:38 AM
Keep in mind it is much cheaper to build in Santa Clara County, so that means the gap is probably huge in terms of square footage.
Posted by: Joshua Santos at November 28, 2013 11:36 PM