The Dallas-Fort Worth (DFW) metroplex has been a beacon of construction growth and development in recent years. With the skyline peppered with construction cranes, it’s evident that the area is booming. As development continues to expand, it’s critical to ensure projects meet due diligence standards and protect owners through comprehensive representation. At Moran Consultants, we deliver end-to-end services that ensure project success from every angle.
Record-Breaking Construction Job Growth
According to a recent report from the Associated General Contractors, the Dallas area saw the most significant construction job growth in the United States last year. In 2023, the Dallas area added a staggering 12,300 building sector jobs, marking an 8% year-over-year increase. This surge in employment outpaced all other U.S. metro areas. On the Fort Worth side of the metroplex, an additional 2,500 construction jobs were created, further solidifying the region’s position as a leader in construction employment.
Major Construction Projects Driving Growth
Several large-scale construction projects commenced in 2023, contributing significantly to the job growth in Dallas-Fort Worth. Notably, ground was broken for the $500 million, 850,000-square-foot Wells Fargo regional office campus in Irving. Additionally, just north of downtown Dallas, work began on Goldman Sachs’ massive office complex. These projects are emblematic of the broader trend of office space and apartment construction that Dallas-Fort Worth leads in the country. These ambitious projects underscore the importance of robust construction loan monitoring and risk mitigation services to ensure timely delivery and mitigate financial risks.
Future of Construction in Dallas-Fort Worth: Growth Opportunities and Risk Mitigation Needs
As we move forward, the construction boom in Dallas-Fort Worth shows no signs of slowing down. The region’s ability to attract and retain a skilled workforce, coupled with its robust pipeline of major projects, positions it as a key player in the national construction landscape.
At Moran Consultants, we are proud to be part of this dynamic and rapidly evolving market. Our projects, including the Meadowbrook Apartment complex, East Foster Crossing multi-family apartment complex, The Sinclair Hotel, The National Thompson Hotel, and The Mayflower exemplify our commitment to contributing to the region’s growth and development.
With the opening of our new location in the Dallas-Fort Worth Metroplex, Moran Consultants is well-positioned to continue supporting the thriving construction industry. We look forward to participating in the region’s ongoing growth, delivering high-quality construction risk mitigation services that meet the needs of our clients and the DFW community.
Moran Provides Expertise in Construction Loan Monitoring, Due Diligence, and Owner’s Representation
At Moran Consultants, we offer a comprehensive range of services tailored to meet the needs of your project at every phase. With our Construction Loan Monitoring services, we facilitate risk management with an emphasis on communication, teamwork, and utilization of expertise throughout the underwriting and construction process. Focusing on project time, quality, and cost, we contribute to successful project outcomes.
Through our Due Diligence services, we provide critical insights and comprehensive assessments to serve as a foundation for decisive decision-making. Additionally, our Owner’s Representation services guarantee that your interests are protected throughout the construction process, from inception to completion, ensuring projects are delivered on time, within budget, and according to specifications. These services make us a trusted partner in ensuring the success of your construction project. No matter what your needs may be, our company strives to create a personalized service that is hand-crafted to meet your standards. Give us a call at 866-545-3350 or contact us online to see how we can help you on your next project.