According to Dodge Data & Analytics, the Dodge Momentum Index rose 0.8 percent in April to 122.6. The slight rise is attributed to an increase in planning activity in both the commercial and institutional sectors after a 2.5 percent decrease in March.
The commercial sector was up 0.5 percent in April, with three sizeable projects that entered planning: a $500 million expansion of the JW Marriott & Ritz Carlton Hotel in Los Angeles; the $300 million Leows Sapphire Falls Resort in Orlando, Fla.; and the $100 million warehouse and office building project in Sante Fe Springs, Calif.
The residential sector rose 1.2 percent, with three projects entering planning as well. The three projects include a $150 million high school renovation in Beverly Hills, Calif.; the $100 million AltaSea Marine Research and Interpretive Center in Los Angeles; and the $100 million Seattle Children’s Research Institute in Seattle.
This month’s Momentum Index is up 8.5 percent compared to April 2014, and it is expected to see an upward trend throughout 2015, reports Dodge Data & Analytics.
