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Nonresidential construction in Boston continues to grow, report finds

by Ted Cornwell

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Though it may be causing headaches for residents, the recent surge of construction starts in Boston’s metropolitan area shows no immediate sign of slowing. A new Dodge Data & Analytics report reveals a startling uptick in total building starts for July 2017 in comparison to the same month just last year.

By the numbers, Boston spent $808.7 million in nonresidential construction activity in the past month alone – a drastic increase from the $313.6 million that was spent in July of 2016. Despite recent inventory struggles, residential spending saw similar growth, the dollar amount totaling out around $502.9 million.

Year-to-date spending on construction also rose significantly for nonresidential buildings. In fact, total spending on office, hotel, warehouse and recreational starts was $4.6 billion through July 2017, gaining 52 percent from $3 billion in 2016. Also, $2.2 billion was spent on single-family homes and multifamily housing, but is unfortunately still down 28 percent from the year prior.

However, the total amount spent on Boston construction starts is on an upswing, increasing to $6.9 billion – a 12 percent year-to-date increase.

Source: Dodge Data & Analytics

 

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