N.C. Manages March Uptick, but S.C. Falls Again

Compared to the same period of a year ago, the value of new contracts signed in March for future construction improved by 1% in North Carolina but fell by a significant 44% in South Carolina, according to the latest information from McGraw-Hill Construction, publisher of Southeast Construction.

In North Carolina, the value of new starts in February totaled nearly $2.7 billion. The increase occurred despite big declines in the residential and nonresidential construction categories, and instead as a result of a surge in nonbuilding contracts.

The residential sector fell 39% for the month to total about $927 million. The value of new nonresidential contracts declined by 41% to tally $466.4 million. The value of nonbuilding starts nearly quadrupled compared to last March, however, finishing the month at an estimated $1.3 billion. Last March, the nonbuilding segment tallied $330.9 million.

For the year-to-date, however, North Carolina is 6% behind last year’s pace. The residential sector is 32% behind last year, and totals roughly $2.7 billion in new starts so far. The nonresidential market is 13% behind the early ’07 pace, with about $1.5 billion in new starts. The nonbuilding segment’s $1.8 billion total to date is more than double last year’s pace.

In South Carolina, March contracts fell by 44% overall, compared to the same period of a year ago, for a $718.9 million total. That compares to last March’s $1.3 billion tally.

For the month, the nonresidential sector fell 26% from the previous March for a $229.8 million total. Residential dropped by 40% for a $401.4 million total. The value of nonbuilding starts declined by 71% for a total of about $87.7 million.

For the year-to-date, the value of new starts in South Carolina is 32% lower than ‘07’s pace. Residential is 32% below last year, and totals roughly $1.3 billion. Nonresidential is 30% off the pace of a year ago, with a $586.3 million tally so far. The nonbuilding segment, which includes streets and highways, bridges and other infrastructure, is 38% behind last years’ pace and totals $268 million.

Balfour Beatty Awarded $50M Mecklenburg School

Balfour Beatty Construction of Charlotte, N.C., has been selected by the Charlotte Mecklenburg School system to provide construction management services for its new $50 million Matthews/Mint Hill High School.

The project was scheduled to break ground this month and is expected to complete in June 2010. Work includes construction of a 260,000-sq-ft, two-story high school. The 99-classroom prototype project will also include a 4,000-seat stadium, baseball and softball fields, and tennis courts.

The Mount Pleasant, S.C., office of Leopardo Construction is building phase two of the City of Beaufort, S.C.’s $14.1 million municipal complex.

The second phase of the complex is a $6.9 million, 28,000-sq-ft city hall building. Leopardo anticipates completing the project in summer 2009.

The contractor is also at work on the project’s first phase, a $7.2 million, 35,000-sq-ft police and courts building, which will consolidate the courts, police and administrative operations. This building is scheduled for completion in the spring.

Both buildings will be built with brick and steel.

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