Contractors in some metro areas are seeing plenty of projects popping up—and anticipating even more.
Building Demand In Miami, Buffalo and Chicago
Construction Dive reports that in Miami, Buffalo and Chicago, contractors are experiencing “pockets of higher than usual activity.”
In Miami, for example, some of the building underway relates to the “live, work, play” needs of people who have been relocating during the pandemic. According to Peter Tuffo, president of Suffolk’s South region, business is brisk:
The type of projects Suffolk has going on right now in the Miami-Dade region runs the gamut. High-end condominiums like those at the 52-story Ritz-Carlton Residences in Sunny Isles Beach, Florida, is an example of the luxury accommodations that transplants from the Northeast are scooping up, but Suffolk also has its share of market-rate rental apartment projects as well. And with those new residents come K-12 school projects….
Meanwhile, up north, Gilbane Building reports adding staff in Buffalo for a broad range of projects underway, including affordable housing, science facilities tied to universities, a major expansion at the Albright-Knox Art Gallery and a big renovation at the Erie County Medical Center. Recently, the Northland Workforce Training Center was also completed. As Gilbane’s Executive Vice President, Richard Cavallaro points out:
Buffalo hs everything a great city needs, like an airport, excellent healthcare options, public transportation, a reasonable cost of living and a robust cultural scene. Businesses also have access to an educated workforce coming out of area schools like the University at Buffalo.
Location continues to make Chicago an important hub for distribution centers—more of which are now needed: just think about all the online shopping so many of us are doing! Contractors in Chicago are also seeing a lot of activity, despite—or perhaps because of the pandemic. With more people working remotely around the country, more data centers are needed—and Chicago, already a top location, is ready for more. You can find out more about data center growth here.
Need a New National Partner?
Contractors across the country are gearing up for big projects with Colonial Surety Company’s special Partnership Account®. Apply and pre-qualify for a surety-line of credit that will help you grow your business. It’s easy with Colonial’s efficient new online system—and all companies that apply receive, for free, Dun & Bradstreet scores.
Contractors who pre-qualify for a surety line of credit, go on to upload a few more documents that help Colonial better understand their operation and underwrite the Partnership Account®.
Thinking Big In Austin and Seattle Too
Construction Dive also reports that contractors in Austin and Seattle are also seeing areas of growth. For example, residential development in Austin is spurring demand for more entertainment opportunities, hence the $338 million Moody Center Arena in the works at the University of Texas.
The hometown of many large corporations (and their offices), Seattle’s contractors are optimistic about the reinvention of office spaces. As Eric Olson, vice president of Clark Construction’s Western region said: “Renewal comes in all shapes and sizes,” he said, “so these office spaces are not just going to sit empty. They’ll be revitalized.”
What Are You Hoping To Build Next?
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Founded in 1930, Colonial Surety Company is a leading direct seller and writer of surety bonds and insurance products across the USA. Colonial is rated “A Excellent” by A.M. Best Company and U.S. Treasury listed.