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Business

Construction contracts climb 13 percent in NY metro area

The value of contracts for future construction in the New York metropolitan area climbed 13 percent last month compared with a year ago on higher residential activity.

Dodge Data & Analytics, an industry information service, reported Thursday contracts worth $3 billion for future building were awarded in March in the 23-county region that includes Long Island, up from $2.8 billion in March 2014.

Nonresidential contracts, for commercial properties such as offices, hotels, factories and warehouses, totaled $1.4 billion last month, up 2 percent year over year.

Residential contracts rose 23 percent to $1.8 billion.

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