Valley construction shooting past last year

Source: The Business Journal

Although some industries in the Central Valley are still slow to grow, construction is making large strides so far this year. Throughout Fresno, Madera, Kings and Tulare counties, 8,290 were issued to builders in the first nine months of the year, up 29.6 percent from 6,395 during the same period last year, according to a weekly report by Construction Monitor. Of the permits awarded so far this year, 7,043 were for residential construction compared to 5,239 last year. Commercial permits rose from 1,156 during the first nine months of 2012 to 1,247 so far this year. Among those, retail, warehouses and dining project jumped from 35 to 46 with total construction value increasing 5.2 percent to $55.85 million. Offices, banks and professional buildings went from 35 to 56 permits with total value shooting up 82.3 percent to $52.18 million. Permits for industrial, manufacturing buildings and warehouses rose from 36 to 55 as construction values soared 143 percent to $56.4 million. The value of all construction permits rose 40.7 percent, going from $751.77 million by the end of September 2012 to $1.1 billion so far this year. Residential construction values totaled $666.8 million so far this year over $445.82 million in 2012, while commercial construction permits went from $305.95 million to $391.48 million Lennar Fresno topped the list of home builders working in the Central Valley with 355 permits awarded so far this year followed by Granville Homes with 214, Wilson Homes with 193, Benchmark with 126 and Woodside Homes with 150. Solar installer Immodo Energy was the largest builder of commercial projects in the Valley with 10 permits valued at $43.48 million followed by WL Butler with two permits of $16.87 million, Target Constructors with 20 permits for $13.79 million, Jo's Handyman and Remodeling with two permits for $13.27 million and Graycor with two permits totaling $11.93 million.

URL to original article: http://www.thebusinessjournal.com/news/construction/9019-valley-construction-shooting-past-last-year

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