Developer · USA · Member since 2022 · 9 posts · 3 votes
Curious what everyone is currently seeing for new construction cost per square foot.
I’ve taken about a year off from new builds and shifted more toward rehabs, but I’m considering getting back into the development side since that’s really where my passion is.
Obviously this depends heavily on finishes, location, scope, etc. For context, my typical builds are in Victoria Park with a projected exit around $2.75M–$3M.
With the market softening, I’m trying to understand whether new build numbers are still penciling. It seems like sale prices/margins have compressed, but trade pricing hasn’t really adjusted yet to reflect the smaller spread.
For those actively building right now, what are you seeing all-in per sq ft, and have you noticed any movement in labor/sub pricing over the last few months?
Hey Al, saw your post about getting back into new construction/development in South Florida. I’m evaluating a potential off market acreage acquisition in the Parkland/BBB Ranches area and I’m trying to speak with a few legitimate buyers/developers before deciding whether to pursue it. I don’t have it under contract and I’m not marketing it for sale. It’s roughly 2.5–3 acres with an older residence that would likely be more of a teardown/estate redevelopment play. Would something like that potentially fit what you look at?