Contracts for future construction in San Diego County rose 60 percent from a year ago in the first five months of 2014, topping $2.3 billion, according to data from McGraw Hill Construction.
The value of permits for nonresidential projects, at $1.9 billion, more than doubled the January-to-May figure for 2013. The increase more than offset a 34 percent decline in residential projects, which totaled $445.5 million for the first five months of the year.
The year-to-date figure for nonresidential projects was skewed in part by an $820 million construction contract tied to Kaiser Permanente’s new hospital campus in Kearny Mesa, for which ground was broken in February.
Still, the region saw a significant jump in nonresidential projects during the month of May, with the $761.6 million figure well ahead of the $52.8 million tally for May 2013. Residential projects dropped 45 percent in May, to $81.9 million.
The figures track the value of building permits pulled for new construction, renovations and expansions.
California as a whole saw total construction contracts rise 1 percent in the first five months, to more than $21.3 billion. Nonresidential projects rose 42 percent and residential projects increased 4 percent, but nonbuilding projects – including roads, bridges and infrastructure -- declined 30 percent.
McGraw Hill Construction is a division of New York-based McGraw Hill Financial
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