Metro area construction contracts surge to $5.6 billion in June
Mill Creek Residential Trust's 275-unit rental apartment building in Mineola, seen under construction on Old Country Road on Dec. 4, 2014. Credit: Steve Pfost
The value of contracts for future construction in the metropolitan area rose 99 percent in June compared with a year ago on a surge in commercial activity.
Dodge Data & Analytics, an industry information service, reported contracts worth $5.6 billion for future building were awarded last month in the 23-county region that includes Long Island, up from $2.8 billion in June 2014.
Nonresidential contracts, for commercial properties such as offices, hotels, factories and warehouses, totaled $2.3 billion last month, up 105 percent.
Residential contracts rose 95 percent to $3.3 billion.
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