Valley construction sees bright spots in 2014

Source: The Business Journal
Written by Ben Keller, Business Journal staff writer

Despite an overall drop in permit values, the Central Valley's construction industry saw marked improvement in 2014, especially in some key commercial sectors. Throughout Fresno, Madera, Kings and Tulare counties, 15,012 construction permits were issued to builders in the year, according to a weekly report by Construction Monitor. That's up 30.2 percent from 2013 when 11,527 permits were issued. Of the permits awarded in the year, 13,429 were for residential construction compared to 9,924 the year before. Commercial permits, on the other hand, fell slightly from 1,604 in 2013 to 1,583 this year. Among those, offices, banks and professional buildings went from 72 to 57 permits with total value going from $58.12 million to $52.35 million Permits for industrial, manufacturing buildings and warehouses went from 61 to 39 with construction values dropping from $66.07 million to $48.95 million, while retail, warehouses and dining projects fell from 52 permits to 35 matched by construction values falling from $60.33 million to $24.06 million. Alternative commercial energy projects had a good year, however, with 128 permits trumping 2013's 78 and construction values soaring from $110.92 million last year to $136.25 million this year. Permits for commercial remodels and additions fell from 825 to 815 but construction values increased from $133.88 million to $166.08 million. The value of all construction permits stood at $1.39 billion in 2014, down 4.8 percent from $1.46 billion last year. Residential construction values alone fell 12.7 percent, going from $960.54 million to $838.47 million. However, the value of commercial construction permits went from $502.79 million to $554.63 million for a 10.3-percent jump. Lennar Fresno topped the list of home builders working in the Central Valley in 2014 with 359 permits awarded in the year at a total value of $95.48 million. The company was followed by Woodside Homes with 199 permits totaling $50.76 million, Wilson Homes with 184 permits of $42.55 million, Wathen Homes with 195 permits of $41.36 million and Bonadelle Homes with 117 permits of $33.72 million. Solar installer First Solar Electric was the largest builder of commercial projects in the Valley with eight permits valued at $78.11 million followed by Roebbelen with one permit of $32.18 million, Target Constructors with 25 permits of $17.96 million, City of Fresno with 21 permits of $17.05 million and Quiring General with five permits of $16.42 million.

URL to original article: http://www.thebusinessjournal.com/news/construction/15401-valley-construction-sees-bright-spots-in-2014 

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