Top 5 construction projects to watch in 2023

May 10, 2023

Each new year brings new construction projects that will not only boost the nation’s economic development but also improve job opportunities.

According to Indovance, a global CAD outsourcing partner serving the needs of the AEC industry since 2003, the following are the five largest construction projects in the U.S. for 2023.

1. MSG (Madison Square Garden) Sphere – $2.8 Billion

MSG Sphere, an immersive theatre backed by cutting-edge technology, will host a wide range of events, including residencies, esports, corporate events and original attractions.

The 17,500-seat auditorium in Las Vegas is the largest spherical structure on Earth, standing over 100 meters tall and almost 160 meters wide. It is slated for the second half of 2023.

2. Fontainebleau, Las Vegas – $3.8 Billion

The 67-story hotel, gaming, meeting and entertainment project construction is scheduled to be finished in the fourth quarter of 2023, according to the press release.

The Fontainebleu site is located next to the Las Vegas Convention Center and will include 3,700 hotel rooms, 550,000 square feet of convention and meeting space, as well as gaming, dining, retail, and experiences, focused on health and wellness.

3. Amazon HQ2 – $2.5 billion 

According to Clark Construction, the first phase of the new Amazon HQ2 office space at National Landing in Arlington, VA, which began in January 2020, is on track to be completed by 2023.

The Metropolitan Park campus will house 2.1 million square feet of office space for Amazon in two 22-story LEED-certified buildings as well as 50,000 square feet of retail space for local small businesses.

4. The Arkansas Museum of Fine Arts (Renovation) – $142 million

The Arkansas Museum of Fine Arts in Little Rock, Arkansas, was set to reopen to the public this spring. 

The folded plate concrete roof, one of the Museum’s recognizable features, is now complete. The new roofline runs the length of the building, connecting the new and renovated spaces to form a cohesive architectural identity for the cultural institution.

5. Las Vegas Formula 1 Grand Prix – $240 million

Formula One (F1) plans to spend a staggering $240 million on a construction plot to build the F1 pits and paddock for the Las Vegas Grand Prix.

The 6.12-kilometer route will have 17 cornering turns, a chicane, and three high-speed straits that will let drivers travel at up to 212 mph. The circuit begins in an old parking lot that will be transformed into the pits and paddock area, which will also house a permanent track.

For more details, visit Indovance here.

Debt ceiling bill launches construction permitting reform
Provisions in the Fiscal Responsibility Bill of 2023 set time limits and scope for environmental review of new federal energy projects
Mecalac’s new compact loaders push the limits of versatility
New hydraulic and maneuverability options, such as M-Drive and Speed Control, are designed to widen the scope of what six new machines can do in terms of both application and industry
Top 10 construction equipment brands revealed
This year’s study shows sales for 2022 were $230.6 billion, one of the highest figures ever recorded in the listing