|
May Contracts: N.C. Up, but S.C. Down
Compared to the same period of a year ago, the value of new contracts signed in May for future construction activity improved by 17% in North Carolina and dropped by 23% in South Carolina, McGraw-Hill Construction reported.
In North Carolina, the value of new starts totaled roughly $2.7 billion for the month. The growth for the month came from a soaring nonresidential sector, which saw more than $1.2 billion in new starts in May – nearly three times last May’s total of about $428.9 million. The other markets were down, though. Residential starts, at about $1.4 billion, were 16% behind last May, while the volume of nonbuilding contracts dropped 64% to total about $86.8 million for the month.
Through the first five months of the year, North Carolina contract activity is 3% behind last year’s pace, with a total of nearly $10.8 billion in new starts so far. The nonresidential category, at $3.2 billion, is 23% ahead of ‘06, while the residential market is 11% behind last year with a $6.7 billion total. The nonbuilding sector is now 12% below last year’s pace, with a nearly $910 million total so far.
Meanwhile, South Carolina totaled approximately $882.3 million in May, or 23% lower than a year ago. The value of new residential contracts totaled about $552.8 million, 34% below last May’s figure. Activity in the nonresidential category was off by 13% compared to last year, and tallied $221.5 million for the month. The value of nonbuilding contracts soared compared to a year ago, however, totaling about $108 million.
For the year-to-date, South Carolina construction is 18% behind the 2006 pace so far, with new contracts totaling $4.8 billion. The residential category, with its $3 billion tally, is about 25% behind the 2006 pace. Nonresidential, at about $1.2 billion, is 10% behind last year’s pace. The nonbuilding sector, at about $577.8 million, is 18% ahead.
TK&A Announces N.C. Commissions
Tsoi/Kobus & Associates of Cambridge, Mass., is designing an expansion of Duke University Medical Center’s existing cancer center in Durham, N.C. The five-level, 185,000-sq-ft addition will provide a new entrance for the center and flexibility for future expansion. It also will house chemotherapy and radiation treatment centers, radiology services and patient support programs.
Meanwhile, for University of North Carolina Hospitals and the University of North Carolina School of Medicine, TK&A is developing a comprehensive master site and facilities plan that will provide a roadmap to align academic and hospital growth with building replacement and infrastructure expansion over the next 20 years on the 125-acre UNC Hospitals and UNC School of Medicine campus at Chapel Hill.
Click
here for more Carolina News >> |
print this page
e-mail this page
