Jeffrey T. Angley – Here’s Some Sorely-Needed Good News

Jeffrey T. Angley – Here’s Some Sorely-Needed Good News As we brace for the after-math of the S&P downgrade of US credit, we thought we’d pass along any good news we can find. McGraw-Hill Construction reports that new construction starts were up 15% in June over May figures, to the highest reading for the Dodge index this year. Nonresidential building surged 11%, nonbuilding (roads/infrastructure) climbed 34% and residential building ticked up 1%. The largest projects of nonresidential building were privately-funded projects, which is a good sign. Large projects are: $160 million corporate campus in Houston, TX $147 million federal building in Ft. Snelling, MN $75 million distribution center for Amazon.com in SC $60 million corporate campus renovation in Seattle, WA $50 million hotel renovation in Philadelphia, PA Institutional construction forged ahead 15%, with the aid of several large hospitals, and entertainment/amusement construction was buoyed by several large projects to show an increase of 90% over May. In full disclosure, the June numbers look good (and they’re not BAD) because May had been so dismal. Nationally, the first six months of 2011 are 7% behind the same period for 2010 in total new construction starts, with the South Atlantic region down 10%. But here’s hoping that we’re beginning to see some brightening of the economic gloom of the past three years.

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If you are a landowner or developer in Eastern Massachusetts, the attorney who protects your rights in any real estate legal matter is Jeffrey T. Angley, founding member of the law offices of Jeffrey T. Angley, P.C., and principal of Phillips & Angley.