Surety Bonds

Up and Coming: What Are You Bidding On?


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 Suffolks 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.

 Pre-Qualify and Receive Free Credit Scores Now!

 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. Theyll be revitalized.”

 What Are You Hoping To Build Next?

Get ready for the opportunities in your future: partner with Colonial Surety Company.

With a Colonial Partnership Account® contractors across the country:

  • Gain control of their bidding and bonding, online and in real time.
  • Utilize powers of attorney to seal and issue their own bid bonds—in minutes.
  • Compete with fast, confidential bid bonds—no middleman.
  • Order performance and payment bonds easily from a customized digital dashboard.
  • Track bids and work on hand in real time with free management reports.
  • Speak directly with Colonials lead underwriter as new opportunities emerge.
  • Leverage data on a private Owners Dashboard to view surety lines, adjust work on hand, analyze bids—and grow.

Learn more and pre-qualify for a Partnership Account now!

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.