The construction market in North America is forecasted by GlobalData to grow by 1.9% in real terms in 2023, having grown by -5.7% in 2022. A key growth market will be the infrastructure market, with output rising by 11.1% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.
Here are North America’s five largest commercial and leisure construction projects that were initiated in Q1 2023, according to GlobalData’s Construction Projects database.
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1. Bronzeville Lakefront Mixed-Use Development
The project involves the construction of a mixed-use complex on 45ha of land in Chicago, Illinois, the US.
Construction work started in Q1 2023 and is expected to be completed in Q3 2027.
The project aims to transform undeveloped 46ha into a living lab. It will create 4,600 construction jobs and 27,000 direct and 35,000 jobs. The project is a redevelopment of Michael Reese Hospital.
2. Riverwalk San Diego
The project involves the construction of a mixed-use facilities on 80.9ha of land in California, the US.
Construction work commenced in Q1 2023 and is expected to finish in Q3 2029.
The project aims to provide better residential and commercial facilities in the region by redeveloping the 27-hole Riverwalk Golf Club. Buy the profile here.
3. 2150 Lake Shore Mixed-Use Complex
The project involves the construction of 29 buildings ranging from three to 67-story comprising 7,504 residential units on 11ha of land in Toronto, Ontario, Canada.
Construction work started in Q1 2023 and is forecast to complete in Q4 2027.
The main aim of the project is to provide a better and wide range of residential, commercial, and retail facilities in the region.
4. The Pomp Mixed-Use Community
The project involves the construction of a mixed-use community on 90ha of land in Florida, the US.
Construction work commenced in Q1 2023 and is expected to be completed in Q4 2031.
The project aims to provide better mixed-use facilities including residential, commercial, and leisure facilities in the region. It will create 1,200 jobs.
5. Tampa Gas Worx Mixed-Use Community
The project involves the construction of a 20ha mixed-use development in Ybor City, Tampa, Florida, the US.
Construction work started in Q1 2023 and is expected to be completed in Q3 2026.
The aim of the project is to enhance residential, office, and retail facilities in proximity to the Ybor Historic District and the Channel District’s historical experiences and attractions centered around its Cuban and cigar manufacturing history. Buy the profile here.
For more details on the latest construction projects, buy the profiles here.
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