The cost of non-residential construction in Salt Lake City is up 7.87 percent from a year ago, the steepest increase among the eight metropolitan markets tracked by Mortenson, the national general contractor whose quarterly cost index is one of the few public measures of regional construction pricing.
The national figure over the same period was 5.60 percent. Denver, at 6.84 percent, was the next highest. Portland and Seattle, at 3.19 percent and 3.48 percent, were less than half Salt Lake’s rate.
The data covers the 12 months ending in the second quarter of this year, and there are signs that the price hikes have slowed. But the report shows that one of the most persistent and significant headwinds to construction around Salt Lake City will continue to plague developers…