Philadelphia region construction tops $9B in 2017

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Several apartment and commercial projects in King of Prussia, Pa., Malvern, Pa., Newtown Square, Pa., and other western suburbs contributed to the boom, including Canvas, a new complex in King of Prussia.(MONTCO.Today file photo)

Data through the end of November show that the Philadelphia region had a robust year in both residential and non-residential construction activity, far exceeding last year’s figures.

Total building activity in both categories — non and residential construction — totaled $9.12 billion for this year through November compared with $5.86 billion last year during the same 11-month period, which is a 57 percent increase, according to Dodge Data & Analytics. When December’s data is added in, the total is expected to slightly rise, writes Natalie Kostelni for Philadelphia Business Journal.

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Both non and residential building rose throughout the year. Non-residential, which includes office, retail, hotel, distribution center, educational, health care and other commercial real estate projects, totaled $5.82 billion, up from $3.44 billion in 2016, according to the Dodge data. Residential construction, which includes single-family and multifamily projects, swung to a total of $3.37 billion, an increase from $2.42 billion.

The year-to-date data covers the metropolitan area of Philadelphia, which includes an 11-county area stretching from Bucks County in Pennsylvania south to Wilmington, Del.

In Camden, N.J., the new headquarters for Subaru of America and American Water are expected to be completed; as well as and several apartment and commercial projects in King of Prussia, Pa., Malvern, Pa., Newtown Square, Pa., and other western suburbs.

To read the complete story click here. 

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