NE Florida Construction Rebounds in 2010, Can 2011 Maintain the Momentum?
The value of the 20 largest NE Florida construction projects grew by almost $300 million in 2010. This is a significant increase in project spending compared to 2009.
However, by the end of Q1, 2011, only three (3) comparable building permits have been issued. Compared to the twelve (12) permits issued by end of Q1, 2010, NE Florida is off to a slow start.
The silver lining to this news is that the three (3) largest projects on the top 20 list are still under construction, and will continue to provide jobs in the area. The top three (3) projects are the Duval County Courthouse at $150 million, the Baptist/Wolfson Tower at $100 million, and Saft America Inc. at $65 million.
The top 20 construction list is comprised of office, hospitality, retail, schools, recreational, industrial and multifamily units.
To read more on this article, visit Construction rebounds in 2010, but 2011 starts off slowly.
For more information on residential and commercial real estate, as well as Florida construction law, please contact Wood, Atter & Wolf, P.A., in Jacksonville and Ponte Vedra Beach, Florida.
