South Florida megaprojects drove a record second-quarter commercial backlog, anchored by Brickell and downtown Miami towers that together represent one of the deepest pipelines the region has tracked. Demand for high-rise concrete crews and curtain-wall installers is outrunning supply.

Developers say financing remains the gating factor despite the backlog, and that projects with committed capital are accelerating to lock in subcontractor capacity before the next wave of starts competes for the same trades.