The latest numbers confirm that a South Florida construction boom is underway.
According to McGraw Hill Financial, there was a 19 percent increase in construction contracts awarded in South Florida through the first nine months of 2014, the South Florida Business Journal reported. The firm said that there were $6.02 billion in construction contracts handed out in the tri-county region, an increase from $5.06 billion in the year-ago period.
Most of those contracts went to residential projects, which saw a 30 percent rise to $3.96 billion.
That contrasts with commercial construction, which grew only 2 percent to $2.05 billion. [South Florida Business Journal] – Jennifer White Karp