Healthcare construction starts soared to $2.7 billion in 2024, while multifamily housing starts are projected to reach $3.9 billion in 2025, more than doubling the previous year.
Office upgrades and tenant improvements, especially in trophy and Class A buildings, are exceeding $450 per square foot as AI firms expand and attract premium talent, revitalizing downtown neighborhoods.
The boom extends to education and housing, with commercial building starts topping $3 billion in 2024, but legacy office buildings lag behind. Increased investment supports public safety and business recovery in key corridors.
Could a construction labor shortage derail San Francisco’s AI-fueled building boom?
Can converting old offices to homes truly solve San Francisco's deep-seated housing crisis?
As AI transforms the city, who will be able to afford living in San Francisco?
With AI booming, why does San Francisco face a massive budget deficit and widespread tech job losses?
What is the hidden environmental cost of powering the world's new AI capital?