Commercial permit values went up 55 percent
Central Florida’s construction industry saw an uptick on future project values in August, but year-to-date values were down, according to a new report from McGraw Hill Construction.
The report showed that residential and commercial builders pulled permits valued at a total of $551.2 million last month, a 53 percent jump from $360.8 million in August 2013. Residential permits accounted for $384 million of that total, which was 52 percent higher than August 2013’s $252.9 million. And commercial permit values went up 55 percent last month, from $107.9 million last year to $167.2 million this year.
But commercial permit values fell 29 percent for the first eight months of the year, from $1.1 billion between January-August of 2013 to $758.7 million in the same period this year. Residential values, meanwhile, were up 12 percent, from $2.2 billion last year to $2.5 billion this year. Together, commercial and residential values totaled $3.25 billion so far this year, little change from the year-earlier period’s $3.3 billion.