55.7 F
San Diego
Tuesday, Mar 19, 2024
-Advertisement-

Local Contracts for Planned Future Construction Increase 50% in First Half

San Diego County contracts for future construction rose 50 percent from a year ago in the first six months of 2014, with residential and nonresidential projects topping $2.63 billion, according to the latest data from McGraw Hill Construction.

The value of nonresidential projects more than doubled the tally from the first half of 2013, reaching more than $2.03 billion. However, future residential contracts declined 29 percent in value, to just over $599.1 million.

The figures in the nonresidential category track building permit values for future office, retail, hotel, industrial, health care, government and other nonhousing projects. The residential category includes single-family homes, condominiums and apartments.

For the month of June, the local region’s overall future projects totaled $268.1 million, up 3 percent from a year ago. Nonresidential values rose 20 percent, to $131.7 million, while residential contracts dropped 8 percent, to $136.4 million.

The state of California saw overall project values rise 5 percent from a year ago in the first six months of the year, topping $26 billion. Nonresidential contracts were up 45 percent and residential contracts rose 7 percent, while non-building projects, such as roads and bridges, were down 28 percent.

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-
-Advertisement-