Metro area construction contracts rise 28 percent
Construction continues on Monday, June 23, 2014, on a residential complex is being built just north of the Wyandanch train station. Credit: David Reich-Hale
The value of contracts for future construction in the metropolitan area rose 28 percent in June compared with a year ago, as residential activity picked up.
McGraw Hill Construction, an industry information service, reported Thursday that $2.7 billion in contracts for future building was awarded in June for the 23-county region that includes Long Island.
Residential contracts totaled $1.6 billion, a gain of 106 percent, year over year.
Nonresidential contracts, which include offices, hotels, factories and warehouses, fell 19 percent, to $1 billion.
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