Declines in September for North, South Carolina

The value of new contracts signed in September for future construction activity decreased by 6 percent in North Carolina and fell 14 percent in South Carolina, McGraw-Hill Construction reported.

North Carolina's approximately $1.7 billion total for the month included positive gains in both the nonresidential and nonbuilding categories, but a double-digit decline in residential. The nonresidential category jumped by 45 percent over last September to total about $407 million, while the value of nonbuilding contracts improved by 25 percent over the same period of a year ago to total nearly $120.4 million. The volume of residential contracts fell by 18 percent, however, compared to last September and totaled roughly $1.2 billion.

Year-to-date, contract activity in North Carolina remains 8 percent ahead of 2005's pace, with a total of approximately $19.6 billion so far. The nonresidential category, with about $4.7 billion worth of contracts, is 26 percent ahead of the same time last year, while the residential market is now 7 percent higher with a roughly $13.3 billion total. The nonbuilding sector is down 18 percent compared to 2005, with a nearly $1.6 billion total.

In South Carolina, where September contracts totaled about $877.6 million, two of the three categories were negative. Both the nonresidential and residential categories declined by 22 percent, with nonresidential totaling $144.3 million for the month, and residential tallying about $606 million. The nonbuilding market's September total of about $127.3 million was more than double that of the same period a year ago.

Despite the September downturn, the year-to-date value of South Carolina contracts remains 3 percent ahead of 2005's pace, with new contracts totaling nearly $9.8 billion through the first nine months of '06. The nonbuilding category, with a cumulative total of about $847 million, is the only negative category and is 5 percent behind last year. The residential sector, at nearly $6.8 billion, is 3 percent ahead. The nonresidential category, valued at about $2.2 billion through September, is still 8 percent ahead of 2005's pace.

$140M Biltmore Park Project Moves Forward

Shelco Inc. General Contractors of Greenville, S.C., announced it was selected by Crosland Inc. and Biltmore Farms to build the $140 million Biltmore Park Town Square mixed-use development in Asheville, N.C.

Biltmore Park Town Square is a mixed-use town center situated along Interstate 26 in Asheville, between the Asheville regional airport and the Biltmore Estate. According to Crosland, Town Square will be anchored by a YMCA and a 15-screen Consolidated Theatres movie theater. The development's master plan includes 150,000 sq. ft. of retail space, 150,000 sq. ft. of office space and an urban residential component comprised of approximately 300 apartments and townhomes.

The 40-acre site will encompass over 1 million sq. ft. of retail, office, residential and parking deck space.

N.C. Research Campus Tops Off Lab Building

The North Carolina Research Campus project recently celebrated the topping off of the David H. Murdock Core Laboratory Building.

The North Carolina Research Campus is a developing public-private, 350-acre life sciences hub near Charlotte involving David H. Murdock, Duke University, the University of North Carolina, the North Carolina Community College System, other institutions of higher education and corporations.