While residential construction continues to drop, nonresidential is on the rise
Nonresidential and nonbuilding construction has been on the rise in the first eight months of 2007, increasing five percent over last year, according to the September edition of the McGraw-Hill Construction & Housing Review.
The credit crunch plaguing residential sectors hasn’t effected nonresidential construction nearly as severely. Nonresidential building and public works construction are expected to grow at a moderate pace this year.
Much of the nonresidential and nonbuilding construction increases have been attributed to several public works projects, including the Echelon Place parking garage, which is valued at $100 million.
Echelon Place is Boyd Gaming Corporation’s multi-billion dollar project being constructed over the former site of The Stardust Hotel and Casino.
