After peaking in 2022 at 43.7 million square feet, the construction pipeline for commercial property in Boston has substantially slowed since then, with the pipeline shrinking to 29.3 million square feet at the end of 2024, the lowest total since 2020. Developers have cited cost concerns as a main reason for the construction pullback.
Mounting cost concerns drive down Boston construction volume to four-year low
Total construction pipeline dips below 30 million square feet for the first time since 2020
CoStar Analytics
February 25, 2025 | 9:12 P.M.
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- Properties
- Volpe Center
55 Broadway, Cambridge, MA