Philadelphia region construction tops $9B in 2017
Data through the end of November show that the Philadelphia region had a robust year in both residential and non-residential construction activity, far exceeding last year’s figures.
Total building activity in both categories — non and residential construction — totaled $9.12 billion for this year through November compared with $5.86 billion last year during the same 11-month period, which is a 57 percent increase, according to Dodge Data & Analytics. When December’s data is added in, the total is expected to slightly rise, writes Natalie Kostelni for Philadelphia Business Journal.
Both non and residential building rose throughout the year. Non-residential, which includes office, retail, hotel, distribution center, educational, health care and other commercial real estate projects, totaled $5.82 billion, up from $3.44 billion in 2016, according to the Dodge data. Residential construction, which includes single-family and multifamily projects, swung to a total of $3.37 billion, an increase from $2.42 billion.
The year-to-date data covers the metropolitan area of Philadelphia, which includes an 11-county area stretching from Bucks County in Pennsylvania south to Wilmington, Del.
In Camden, N.J., the new headquarters for Subaru of America and American Water are expected to be completed; as well as and several apartment and commercial projects in King of Prussia, Pa., Malvern, Pa., Newtown Square, Pa., and other western suburbs.
To read the complete story click here.
Connect With Your Community
Subscribe for stories that matter!
"*" indicates required fields