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Key Takeaways from the Webinar
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Regional Cost Variability: Costs vary widely by location - San Francisco remains the most expensive, while Dallas is the lowest. Local labor, code enforcement, and material access are major cost drivers.
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Market Forces at Play: Tariffs, labor shortages, and high interest rates continue to impact budgets. While some materials have stabilized, input costs remain nearly 40% above pre-2020 levels.
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Regulatory Shifts Impacting Cost: New requirements, like fire sprinklers and EV charging, are now standard in many jurisdictions, adding cost and complexity that must be factored into 2025 plans.
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Design Features That Move the Needle: Elements like below-grade construction, mixed-use integration, or enhanced façades can significantly increase costs. The session covered which design choices drive pricing and where value can be optimized.
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The Outlook Ahead: Costs are expected to rise another 3-6% in 2025, but increased competition in some markets may help balance inflationary trends.