On construction costs
High construction costs have added to a macroeconomic environment making it difficult for developers to get new projects to make financial sense. Experts say that finally is starting to ebb in 2024, creating a bright spot for those looking to ramp up new construction in Central Florida.
“Construction costs, for the first time in a long time, are starting to come down — and pretty substantially. They’re not [coming down] as much on finished contracting. The early contractors in development, that is where you’re seeing the biggest price decreases — electricians and plumbers, not so much quite yet, but I think that’s coming as well.”
Andrew Wright, CEO and founder, Franklin Street
– Orlando Business Journal
