http://www.bizjournals.com/atlanta/real_...test-optimism-over-new.html?iana=ind_cre
South sees greatest optimism over new construction projects
In case you didn’t notice all those new cranes for apartment towers and mixed-use projects, construction is once again picking up.
In a new survey released today, contractors across the United States are expressing the most optimism about the upcoming year for commercial real estate construction since the downturn nearly seven years ago. Nowhere was the optimism greater than in the South, according to the survey from the Associated General Contractors of America.
The South — which included Georgia, the Carolinas, Texas and the District of Columbia in the survey — also shows more confidence than another other region in the demand for new retail, warehouse and lodging projects. The same goes for the construction of new offices for the private sector, according to the survey.
Contractors across the South were also the most optimistic compared to other regions about new hospital and higher education construction.
In Atlanta, cranes have returned for a spate of ongoing intown apartment, mixed-use and adaptive reuse projects. In Dunwoody, State Farm Insurance is about to launch one of the largest corporate office developments in the region’s history.
The Atlanta Falcons and Atlanta Braves will both have new stadiums developed over the next few years.
“For the first time since this association began conducting its annual outlook survey in 2008, a plurality of contractors —36 percent – expect the construction market to grow again this year while an additional 32 percent expect it will grow in 2015.”
Many firms plan to begin hiring again in 2014, while relatively few plan to start making layoffs, according to the survey.
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