Phil Friedl, Senior Vice President, was featured sharing his expertise on the local construction market and how its relevance to PDS projects, including JustFab’s El Segundo Headquarters and NBC Universal’s 10UCP restack.
“Construction materials have risen by almost 3 percent a year in each of the last two years, and the increases are projected to continue this year before flattening nationally in 2016, according to Phil Friedl, a senior vice president JLL’s project and development services group. In Los Angeles, some of those costs are higher than they are for the rest of the country. Plywood, for example, costs $602 a ton here, $26.70 more a ton than the national average.”
Dana Westgren, Research Analyst, was quoted for her expertise on the overall cost of construction.
“Westgren said that the overall cost of construction in Los Angeles has risen roughly 6 percent since 2012, and is expected to continue to go up. Several L.A. developers said they have seen a steeper increase, closer to 10 percent, because private-sector construction costs are increasing faster than those of public-sector construction. And the increases might intensify.”
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