Citybizlist reports that commercial construction may be looking up in Northern Virginia.
Contracts for future commercial construction in region were at about $390 million in July 2012, up 22 percent from July 2011, according to McGraw-Hill Construction. Future commercial construction contracts totaled about $320 million at the same time last year, reports Citybizlist.
McGraw-Hill includes commercial, manufacturing, educational, religious, administrative, hotel, recreational and other non-residential buildings in its definition of commercial construction.
The area included in the company's statistics includes Arlington, Washington, DC, Fairfax and Loudoun counties, Prince William County, ando ther areas of Virginia and Maryland near DC.
The Washington Examiner had good news for construction earlier this month as well—new housing construction is in demand and has shown moderate increases.
According to the Examiner the increase is due to good market conditions and job growth and low inventory of existing homes. The Maryland and Virginia suburbs are seeing most of the construction—specifically Loudoun, Prince William and Montgomery counties.
Maryland was up 34 percent over last year, Virginia 17 percent and the Washington-Arlington-Alexandria area was up 3 percent over last year.
• DC Construction Contracts Up 22 Percent in July - on DC.Citybizlist.com
• New Home Construction Shows Modest Increases in 2012 - on WashingtonExaminer.com
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