Building in America Just Got Pricier — But We Cracked the Code
Construction costs are smashing records nationwide. In New York City, the average cost to build now tops $534 per square foot — the highest in the world. San Francisco isn’t far behind at $512, with Los Angeles hitting $445. The culprits? Persistent labor shortages, inflationary material pricing, and supply chain disruption still reverberating from post-pandemic trade volatility. Developers across the country are feeling the squeeze. According to Turner & Townsend, nearly 50% of industry professionals expect supply chain conditions to worsen over the next 12 months, with construction cost inflation climbing to 5% in 2025 in some markets. But while most are struggling to keep up, we’ve taken a different route — and it’s working. At Elevation Development Services, we decided to flip the script. Instead of relying on the traditional (and increasingly fragile) web of third-party consultants and GC markups, we brought everything in-house — and it’s been a game changer. By combining end-...