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Mid-Year 2022 South Carolina Construction Trends Report

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South Carolina Construction Starts are Down

Key Takeaways

  • Mid-year statewide construction starts in key sectors totaled $1.4 billion, a $453 million decrease compared to mid-year 2021.  Pre-development indicators appear favorable for future growth, however, data showing the effect of rising interest rates is not yet available to allow analysis of the impact.   
  • Material costs are still increasing, but the rate of increase appears to be cooling. A decrease in construction starts and stabilization of material costs may exert downward pressure on construction pricing, albeit from an elevated point of beginning.

LCK Construction Tip: Material lead times continue to exert pressure on construction schedules. While lead times for some materials have improved, the issue persists for many necessary components, chiefly most types of electrical gear and equipment. These realities put the timely completion of upfits and short-duration projects at the highest risk.  Owners should be clear with schedule expectations and be willing to fund early procurements.       

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Mid-Year 2022 South Carolina Construction Trends Report

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Mickey Layden

Exec. Vice President | South Carolina & President | LCK

Columbia

I am President/CEO of LCK, the project management partner of Colliers | South Carolina. Founded in 1994, LCK is a certified woman-owned business that serves clients throughout the state through a regional network of offices in Greenville, Spartanburg, Columbia, and Charleston.

I also serve as Executive Vice President and Principal of Colliers | South Carolina, with executive leadership responsibility for the firm’s Real Estate Management Services division. The REMS staff of nearly 55 property management and maintenance professionals manages over 16 million square feet of space statewide. 

I have been fortunate to assemble a great team of project management professionals within LCK and together we leverage collective backgrounds in engineering, facilities management, construction and financial modeling to offer a comprehensive service.

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