Value of contracts for future building in metro area rises 11%
The value of contracts for future construction in the metropolitan area increased by 11 percent in November compared with a year ago, according to Dodge Data & Analytics, an industry information service. Among the projects on Long Island is the newly revamped Nassau Coliseum, seen on Nov. 7, 2016. Credit: Newsday / Alejandra Villa
The value of contracts for future construction in the metropolitan area increased by 11 percent in November compared with a year ago, as nonresidential activity rose.
Dodge Data & Analytics, an industry information service, reported last week that contracts worth $2.5 billion for future building were awarded last month for a 23-county region centered on New York City that includes Long Island. That’s a modest gain over November 2015, when new building contracts totaled $2.3 billion.
Nonresidential contracts, for commercial properties such as offices, hotels, factories and warehouses, totaled $1.4 billion, up 71 percent year over year.
Residential contracts fell 22 percent to $1.2 billion.
Sarra Sounds Off, Ep. 15: LI's top basketball players On the latest episode of "Sarra Sounds Off," Newsday's Gregg Sarra and Matt Lindsay take a look top boys and girls basketball players on Long Island.
Sarra Sounds Off, Ep. 15: LI's top basketball players On the latest episode of "Sarra Sounds Off," Newsday's Gregg Sarra and Matt Lindsay take a look top boys and girls basketball players on Long Island.
