New York Saw A Rise In Construction Contracts In February, Says Brooklyn Construction Firm

Arc III Construction Corp., a Brooklyn-based construction firm offering high-end renovation services, says that an upswing in construction is on the horizon according to recent reports.

“Contracts for future non-residential construction in New York, Northern New Jersey, and Long Island have more than doubled in February 2010 when compared to the February 2009, according to the recent reports,” says Alex Chiesi, president and founder of Arc III Construction Corp. (http://arc3construction.com/), a full service design, remodeling, and construction firm that specializes in commercial construction jobs throughout the tri-state area. “This is not only good news for the construction industry, it is good news for New York and the economy as a whole.”
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Chiesi says that in February 2010, there were nearly $1.16 billion in future construction contracts inked in the New York and New Jersey region, up from approximately $460 million in February 2009. Year-to-date, future non-residential construction contracts total nearly $4.57 billion for the region, which, he says, is more than four times the February 2009 number of $1.44 billion.
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“Non-residential construction refers to buildings that are used for commercial purposes, manufacturing, education, religious organizations, administrative uses, recreational uses, hotels, dormitories and other similar buildings,” says Chiesi. “Although residential construction may still have a while to go before it gains the same momentum, there is no doubt that this increase in construction contracts is a sign of a strengthening economy.”
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However, Chiesi says that the same report also noted that in the first two months of 2010, total construction projects already underway throughout the country, on an unadjusted basis, came in at $57.2 billion, which was around the same amount as was reported during the first two months of 2009.
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Arc III Construction is a multi-disciplined New York construction management and engineering firm specializing in project planning, risk management, program management, project due diligence, construction management, critical path method scheduling, schedule delay analysis, construction cost estimating, construction claims, quantification of damages, defect evaluation & analysis, and construction training. Incorporated in 1995 as a residential contractor, ARC III Construction has grown to become one of New York City's finest general and finish contractors offering custom furniture, millwork, and high-end renovation services. For more information call 917-547-1728 or visit www. arc3construction.com.