The Dodge Momentum Index, a monthly measure of the first report for nonresidential building projects in planning, increased to 128.3 in August, according to Dodge Data & Analytics. That’s a 2.8 percent increase from its July reading of 124.8.
According to Dodge Data & Analytics, the August gain is attributed to an increase in new plans for commercial buildings, up 8.4 percent from July. Despite this, the institutional building sector in July fell 5.2 percent following July’s surge.
Ten projects entered planning in August with a value exceeding $100 million. Eight of these were commercial projects and two were institutional projects.
In the commercial building sector, a $500 million mixed-use project in Santa Clara, Calif., entered planning, as well as a $400 million hotel at the JFK International Airport in New York, and a $350 million warehouse in Orlando, Fla. In the institutional building sector, a $400 million hospital in Phoenix and a $150 million assisted living facility in Seattle entered planning.
Dodge Data & Analytics provides data, news and intelligence to the North American construction industry. The information allows construction industry members to size markets, prioritize prospects, target and build relationships, strengthen market positions, and optimize sales strategies.
