Construction Industry Update: Emerging Trends and Developments

As we delve into the start of 2025, the construction industry is bustling with activity, showing diverse developments across major cities. From new multi-family buildings and mixed-use spaces to the launch of housing lotteries, the industry is set on a steady path of growth.

In Chicago's Wicker Park, Noah Properties has attained building permits for developments at 1235 and 1257 North Ashland Avenue. These projects entail the construction of five-story buildings comprising 16 and 24 units respectively, complete with interior parking. Demolition work is near completion, paving the way for construction to commence.

Overall, the construction landscape is rich with opportunities that straddle traditional residential projects and innovative multi-use developments, all set within a framework of supportive legislative measures.

• New mixed-use projects in major cities are prioritizing sustainable designs and integrated living spaces.
• Regulatory advances like AB 2729 promise smoother navigation through bureaucratic channels for developers.
• Renovations in urban locales highlight an uptrend in affordable housing projects.