An exterior stucco wall construction comprising: a wall frame; sheathing attached to the outer side of the wall frame; a moisture collection channel mounted along a lower margin of the sheathing and having an inner flange, an outer flange, and a support floor extending therebetween, the collection channel further having a plurality of apertures arranged in spaced relation adjacent and along the inner flange; a vapor barrier attached to the sheathing and covering a portion of the upper flange of the collection channel; a moisture impervious board having an inner side provided with drain means to facilitate the downward drainage of moisture to a lower edge located within the collection channel and resting upon its support floor; lath wire secured over the outer side of the board; and, at least one coat of stucco applied over the lath wire.