Actively bidding commercial construction projects in major-metro regions in California in Q1 up 1% year-over-year; total contract values in surveyed areas top out at US$6.8B: BidClerk
May 6, 2014
– Total Contract Value in the California Regions Surveyed Was $6.8 billion in the 1st Quarter of 2014
For California major metro regions, 1st quarter 2014 BidClerk data showed a year-over-year increase of 1.03% for new actively bid commercial construction projects. This compares to a 9.82% increase reported for the 4th quarter of 2013. Total contract value for commercial construction in the California regions surveyed topped out at $6.8 billion in the 1st quarter of 2014. Overall, in the 1st quarter of 2014, BidClerk reported on nearly 2500 actively bidding opportunities in the California Major MSAs.
For the Los Angeles MSA region, 1st quarter 2014 BidClerk data showed a year-over-year decrease of (-2%) for new actively bidding construction projects. Private projects increased 11.54% in the 1st quarter in a year-over-year comparison, while public projects decreased (-6.42%) in the period.
One notable project that actively bid in the 1st quarter of 2014 in the Los Angeles MSA region is the Fountainview at Gonda. The project is being built at an estimated cost of $100 million. The general contractor is McCormick Construction (Burbank, CA) and the architect is Gensler (Los Angeles, CA). (BidClerk project number 2492809.)
For the San Francisco MSA region, 1st quarter 2014 BidClerk data showed a decrease of (-5.2%) in overall actively bidding construction projects. Private projects decreased (-8.42%) in the 1st quarter in a year-over-year comparison, while public projects decreased (-4.56%) in the same period.
A prominent project that actively bid in the 1st quarter 2014 in the San Francisco MSA region is the 350 Eighth Street Mixed-Use project, an entire city block of market-rate housing in San Francisco’s SoMa district. It is being built at an estimated cost of $220 million. The construction manager is James E. Roberts - Obayashi Corp. (Danville, CA) and the architect is Kava Massih Architects (Berkeley, CA). (BidClerk project number 2185115.)
The areas surveyed for this BCI report are all major-metro regions in California, including Los Angeles-Long Beach-Santa Ana, CA; San Francisco-Oakland-Fremont, Sacramento-Arden-Arcade-Roseville, CA; San Diego-Carlsbad-San Marcos, CA; and Riverside-San Bernardino-Ontario, CA.
Nationally, BidClerk reported on $130.3 billion in commercial construction contracts out-to-bid in the first quarter of 2014. BidClerk saw a decrease of (-2.09%) for the total number of commercial construction projects out-to-bid compared to the first quarter of 2013. This number includes both public and private work and it represents the aggregate value of actively bidding commercial construction contract opportunities available in BidClerk's database.
Today's new construction data was released by BidClerk, a leading provider of construction project data and marketing tools for building product manufacturers, contractors, and distributors. The BCI data represents projects that actively bid in the 1st quarter 2014 and is not a complete representation of BidClerk's extensive project database which tracks construction project data from the pre-construction phases through construction put-in-place. The BidClerk Construction Index is a quarterly data service offered at no cost to media outlets that cover regional construction news. Members of the media may request custom BidClerk Construction Index reports for specific counties, regions, and states by contacting BidClerk: BCI@bidclerk.com.
BidClerk offers an extensive range of construction project data and marketing tools for building product manufacturers, contractors, and distributors. Advanced analytics, superior data coverage, and cost effectiveness set BidClerk services apart from competitors McGraw-Hill Construction (NYSE: MHFI) and Reed Construction Data (rel:Ln).
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John D. Wagner, 919-796-9984
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