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Georgia Contracts Down 4% in May
A steep decline in residential starts continued to contribute to another negative month for the state of Georgia for new contracts, McGraw-Hill Construction reported. The value of contracts signed during May for future construction totaled nearly $2.3 billion, 4% down compared to the same period of a year ago.
Residential construction declined by 30% to a monthly total of about $1.2 billion, down from the nearly $1.7 billion reported last May. Nonresidential construction soared, however, improving by 25% to total about $703.1 million for the month. Nonbuilding construction also increased significantly, with May’s total of $443.6 million well ahead of last May’s $167.1 million tally.
For the year-to-date, Georgia contract activity is now 11% behind the first five months of 2006, with the current value of new contracts at about $10.3 billion, down from the $11.6 billion reported through the same period last year. Nonresidential remains the lone positive sector, with a 13% improvement over last year and a total of nearly $3 billion so far. Residential construction, estimated at $5.9 billion, is 21% below last year’s pace. Nonbuilding construction, totaling roughly $1.4 billion, is 1% behind.
Highwoods Developing Office Building for FAA
Raleigh, N.C.-based Highwoods Properties has been awarded a 50,000-sq-ft build-to-suit contract with a long-term lease by the Federal Aviation Administration. Highwoods will develop a $10.2 million, two-story class-A office building at Tradeport, an office and industrial park adjacent to the Hartsfield-Jackson Atlanta International Airport. The developer indicated construction would start in the third quarter of 2007 and is expected to be completed in the second quarter of 2008.
Skanska Building Health, Wellness and Lifelong Learning Center
Skanska USA Building of Atlanta has been selected as construction manager for the Health, Wellness and Lifelong Learning Center at the University of West Georgia. Rosser International will serve as architect.
The project, a 120,000-sq-ft facility, includes an arena and multiple ball courts that will also provide space for commencement ceremonies. With a capacity for approximately 7,500 people, the arena will be home to the UWG basketball and volleyball teams. It is expected to open in January 2009.
$191.9 M Interstate 20 Project Moves Forward
A joint venture of Scott Bridge Co. and United Contractors started construction in June on a $191.9 million contract to widen sections of Interstate 20 in Columbia and Richmond counties, McGraw-Hill Construction reported. The contract also includes interchange reconstruction.
The project is scheduled for completion in July 2010.
Cousins Starts Terminus 200
Atlanta-based Cousins Properties has started construction of Terminus 200, a 25-story, 565,000-sq-ft office building at Terminus, the company’s planned 10-acre, $660 million mixed-use project in Atlanta’s Buckhead district. The building – expected to deliver in mid 2009 – is the third to begin construction at Terminus and follows closely the April 20 construction start of 10 Terminus Place, a 32-story, 142-unit condominium building. All of the buildings include street-level retail and restaurants.
Future phases of Terminus include two planned 40-story condominium buildings.
R. J. Griffin & Co. Starts, Tops Out Major Projects
R. J. Griffin & Co. of Atlanta and Gwinnett Medical Center celebrated the beginning of construction of a 155-bed patient tower in Lawrenceville in mid-June with a crane christening.
When completed in summer 2009, the new eight-story patient tower will feature: 155 beds with patient rooms almost twice the size of the current tower; patient/family suites on each floor; a renovation of the surgical suite, including new operating rooms dedicated to orthopedics, neurosurgery and vascular surgery; four separate intensive care units; five specialty care centers, including orthopedics and neuroscience, a joint replacement center, a spine center and a cardiovascular center.
Meanwhile, in Rome, Ga., the contractor topped out its $32.5 million Steven J. Cage Athletic and Recreation Center project at Berry College. The ceremony marked the completion of the first major phase of construction for the new facility.
The Cage Center is a 130,736-sq-ft athletic facility that will feature a natatorium, performance gym, multi-activity gym, fitness area, indoor running track, basketball courts, racquetball/squash courts and a general cardiovascular training area.
Designed by Hastings & Chivetta Architects, the project began construction in June 2006 and is headed for a January 2008 opening.
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