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April 7, 2020 Comments Off on Seattle Drops on Construction Crane Index Views: 2366 Seattle & Pacific Northwest News, Seattle News, Top Seattle

Seattle Drops on Construction Crane Index

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Seattle no longer holds the crane count crown on Rider Levett Bucknall’s Crane Index. The Emerald City’s 36 cranes is second to Los Angeles with 47. The report, compiled with information gathered from three sources, provides a simplified measure of the construction industry in 14 key markets.

RLB North America’s Julian Anderson says, “The coronavirus (COVID-19) pandemic has had a sudden and ongoing effect on the economy. “We expect, given the impact the virus is having on financial markets, that there is a good chance it will trigger a recession, which will eventually drive construction costs down as contractors, subcontractors, and suppliers compete to win the reduced number of projects in development.”

Among the other findings of the report:
• For the third consecutive count, Seattle experienced a decrease in its crane total, down 20% from the previous Index
• Toronto continues to be home to the majority of total cranes counted (27%), followed by Los Angeles (10%)
• Cities seeing an increase in cranes include Calgary, Chicago, Denver, Honolulu, Phoenix, San Francisco, and Toronto
• Cities having steady crane counts include Boston, Los Angeles, New York City, Portland, and Washington D.C.
Crane Index sector notes
• Residential and mixed-use projects combined account for 70% of all cranes counted
• Cranes dedicated to healthcare projects dropped 33% from previous counts
• Hospitality projects experienced a nationwide decrease in active cranes of 50%

Read more at Rider Levitt Crane Index

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