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Metro construction contracts rose 66% in December: Report

The value of contracts for future construction rose

The value of contracts for future construction rose in December 2015, especially for residential building, an indicator of projects for the region that includes Long Island. This Mineola apartment building was going up Dec. 4, 2014. Photo Credit: Steve Pfost

The value of contracts for future construction in the metropolitan area climbed 66 percent in December compared with a year ago on higher residential activity, according to a new report.

Dodge Data & Analytics, an industry information service, reported Thursday that contracts worth $4.2 billion for all future building were awarded last month in the 23-county region that includes Long Island, up from $2.5 billion in December 2014.

Residential contracts totaled $3.1 billion in December, a 106 percent increase year over year.

Nonresidential contracts, for commercial properties such as offices, hotels, factories and warehouses, rose 10 percent to $1.1 billion.

For the year, the value of contracts in metro New York totaled $46.6 billion, a gain of 44 percent over 2014.

Residential contracts were up 41 percent to $24.8 billion, year over year. Nonresidential contracts increased 48 percent to $21.7 billion.

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