Miami construction contracts rise 54 percent: report

The total volume of construction contracts in the Miami-Fort Lauderdale-Miami Beach has reached $2.29 billion for the year to date, a 54 percent increase over the same period in 2011, according to a report from McGraw-Hill Construction’s research and analytics unit. The number was buoyed by an 80-percent increase in residential construction contracts, which have reached $1.92 billion this year, compared to $1.07 billion at the same time last year. Nonresidential construction contracts rose by 32 percent to $1.61 billion in the same period. — Alexander Britell