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Construction costs continued to climb again last year after years of rapid growth, but could that change in 2020? The new construction pipeline is growing as a result of opportunity zone activity, and in 2020, new construction activity will continue to grow. However, Richard Lara of RAAM Construction doesn’t expect the increase in activity to put pressure on construction costs. However, they will continue to be a top concern for developers.

“We do not anticipate that a boost in activity from opportunity zones will significantly impact construction costs,” Lara, president and CEO of RAAM Construction, tells GlobeSt.com. “That said, construction costs are top of mind for developers and owners as they continue to inch upward.”

Kelsi Maree Borland

Kelsi Maree Borland is a freelance writer and editor living in Los Angeles whose work has appeared in such publications as Travel + Leisure, Angeleno and Los Angeles Magazine.

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