Commercial construction in South Florida is comming back strong.
An index of contracts for future construction in South Florida shows a 33 percent increase for the latest month, while non-residential construction is only up 4 percent. In October, residential construction rose to $105.75 million, while non-residential rose to $124.56 million, according to the index. Residential includes homes and apartments, while non-residential includes commercial, manufacturing, education, religious, administrative, recreational, hotel and dormitory buildings. For the year, non-residential was unchanged, at $1.49 billion, while residential was up 37 percent, to $1.33 billion. In Bal Harbour inventory is low in buildings like The Balmoral, The Majestic Tower and One Bal Harbour.
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