diff --git a/packages/@angular/cli/custom-typings.d.ts b/packages/@angular/cli/custom-typings.d.ts
index 91c843700857..ccd697a97ffa 100644
--- a/packages/@angular/cli/custom-typings.d.ts
+++ b/packages/@angular/cli/custom-typings.d.ts
@@ -15,7 +15,7 @@ interface IWebpackDevServerConfigurationOptions {
   };
   publicPath?: string;
   headers?: { [key: string]: string };
-  stats?: { [key: string]: boolean };
+  stats?: { [key: string]: boolean } | string;
   inline: boolean;
   https?: boolean;
   key?: string;
diff --git a/packages/@angular/cli/tasks/build.ts b/packages/@angular/cli/tasks/build.ts
index 96655a2b4d58..cd767b8ec4f0 100644
--- a/packages/@angular/cli/tasks/build.ts
+++ b/packages/@angular/cli/tasks/build.ts
@@ -7,6 +7,7 @@ import { BuildTaskOptions } from '../commands/build';
 import { NgCliWebpackConfig } from '../models/webpack-config';
 import { getWebpackStatsConfig } from '../models/webpack-configs/utils';
 import { CliConfig } from '../models/config';
+import {statsToString} from '../utilities/stats';
 
 const Task = require('../ember-cli/lib/models/task');
 const SilentError = require('silent-error');
@@ -39,18 +40,19 @@ export default Task.extend({
           return reject(err);
         }
 
-        this.ui.writeLine(stats.toString(statsConfig));
+        const json = stats.toJson('verbose');
+        if (runTaskOptions.verbose) {
+          this.ui.writeLine(stats.toString(statsConfig));
+        } else {
+          this.ui.writeLine(statsToString(json, statsConfig));
+        }
 
         if (runTaskOptions.watch) {
           return;
-        }
-
-        if (!runTaskOptions.watch && runTaskOptions.statsJson) {
-          const jsonStats = stats.toJson('verbose');
-
+        } else if (runTaskOptions.statsJson) {
           fs.writeFileSync(
             path.resolve(this.project.root, outputPath, 'stats.json'),
-            JSON.stringify(jsonStats, null, 2)
+            JSON.stringify(json, null, 2)
           );
         }
 
diff --git a/packages/@angular/cli/tasks/serve.ts b/packages/@angular/cli/tasks/serve.ts
index 618ea14419ba..7e36cc3360ad 100644
--- a/packages/@angular/cli/tasks/serve.ts
+++ b/packages/@angular/cli/tasks/serve.ts
@@ -9,6 +9,7 @@ import { NgCliWebpackConfig } from '../models/webpack-config';
 import { ServeTaskOptions } from '../commands/serve';
 import { CliConfig } from '../models/config';
 import { getAppFromConfig } from '../utilities/app-utils';
+import {statsToString} from '../utilities/stats';
 
 const WebpackDevServer = require('webpack-dev-server');
 const Task = require('../ember-cli/lib/models/task');
@@ -162,7 +163,7 @@ export default Task.extend({
         disableDotRule: true,
         htmlAcceptHeaders: ['text/html', 'application/xhtml+xml']
       },
-      stats: statsConfig,
+      stats: serveTaskOptions.verbose ? statsConfig : 'none',
       inline: true,
       proxy: proxyConfig,
       compress: serveTaskOptions.target === 'production',
@@ -212,6 +213,19 @@ export default Task.extend({
     `));
 
     const server = new WebpackDevServer(webpackCompiler, webpackDevServerConfiguration);
+    if (!serveTaskOptions.verbose) {
+      webpackCompiler.plugin('done', (stats: any) => {
+        const str = statsToString(stats.toJson(), statsConfig);
+        if (stats.hasErrors()) {
+          this.ui.writeError(str);
+        } else if (stats.hasWarnings()) {
+          this.ui.writeWarnLine(str);
+        } else {
+          this.ui.writeLine(str);
+        }
+      });
+    }
+
     return new Promise((_resolve, reject) => {
       server.listen(serveTaskOptions.port, serveTaskOptions.host, (err: any, _stats: any) => {
         if (err) {
diff --git a/packages/@angular/cli/utilities/stats.ts b/packages/@angular/cli/utilities/stats.ts
new file mode 100644
index 000000000000..9c1213665bc6
--- /dev/null
+++ b/packages/@angular/cli/utilities/stats.ts
@@ -0,0 +1,45 @@
+import { bold, green, reset, white, yellow } from 'chalk';
+import { stripIndents } from 'common-tags';
+
+
+function _formatSize(size: number): string {
+  if (size <= 0) {
+    return '0 bytes';
+  }
+
+  const abbreviations = ['bytes', 'kB', 'MB', 'GB'];
+  const index = Math.floor(Math.log(size) / Math.log(1000));
+
+  return `${+(size / Math.pow(1000, index)).toPrecision(3)} ${abbreviations[index]}`;
+}
+
+
+export function statsToString(json: any, statsConfig: any) {
+  const colors = statsConfig.colors;
+  const r = (x: string) => colors ? reset(x) : x;
+  const w = (x: string) => colors ? bold(white(x)) : x;
+  const g = (x: string) => colors ? bold(green(x)) : x;
+  const y = (x: string) => colors ? bold(yellow(x)) : x;
+
+  return r(stripIndents`
+    Date: ${w(new Date().toISOString())}
+    Hash: ${w(json.hash)}
+    Time: ${w('' + json.time)}ms
+    ${json.chunks.map((chunk: any) => {
+      const asset = json.assets.filter((x: any) => x.name == chunk.files[0])[0];
+      const size = asset ? ` ${_formatSize(asset.size)}` : '';
+      const files = chunk.files.join(', ');
+      const names = chunk.names ? ` (${chunk.names.join(', ')})` : '';
+      const parents = chunk.parents.map((id: string) => ` {${y(id)}}`).join('');
+      const initial = y(chunk.entry ? '[entry]' : chunk.initial ? '[initial]' : '');
+      const flags = ['rendered', 'recorded']
+        .map(f => f && chunk[f] ? g(` [${f}]`) : '')
+        .join('');
+
+      return `chunk {${y(chunk.id)}} ${g(files)}${names}${size}${parents} ${initial}${flags}`;
+    }).join('\n')}
+
+    ${json.warnings.map((warning: any) => y(`WARNING in ${warning}`)).join('\n\n')}
+    ${json.errors.map((error: any) => r(`ERROR in ${error}`)).join('\n')}
+    `);
+}