Actively bidding commercial construction projects in major-metro regions in Texas in Q1 up 9% year-over-year; total contract values in surveyed areas topped out at US$12.2B, with average contract value of US$5.7M: BidClerk
May 6, 2014
– Total Contract Value in Texas Was $12.2 Billion in the 1st Quarter of 2014. Average Contract Value Was $5.7 Million.
For Texas major metro markets, 1st quarter 2014 BidClerk data showed a year-over-year increase of 8.96% for new actively bid commercial construction projects, compared to a 5.62% increase in activity for the same period last year.
Total contract value in Texas topped out at $12.2 billion in the 1st quarter of 2014, with average contract value of $5.7 million. This compares to a total contract value of $5.5 billion and an average contract value of $2.8 million reported for the 4th quarter of 2013.
For the Houston MSA region, BidClerk’s 1st quarter 2014 data showed a year-over-year increase of 1.37% for new actively bidding commercial construction projects, compared to a 6.27% increase for the same period one year ago. Private projects decreased (-7.53%) in the 1st quarter 2014, while public projects increased 5.71% in the 1st quarter 2014. Total contract value for the Houston region of the 1st quarter of 2014 was $5.9 billion.
One notable project that actively bid in the 1st quarter 2014 in the Houston MSA region is The Hudson multi-residential development. The five-story, 431-unit complex is being built at an estimated cost of $50 million. The construction manager is Stanford Construction Inc. (Dallas, TX). The architect is Looney Ricks Kiss (LRK) (Memphis TN). (BidClerk project number 2674989.)
For the Dallas MSA region, BidClerk’s 1st quarter 2014 data showed a year-over-year increase of 28.95% for new actively bidding construction projects, compared to a (-5.35%) decrease in activity for the same period last year. Private projects increased 5.71% in the 1st quarter 2014, while public projects increased 38.5% over the same period. Total contract value for the Dallas region of the 1st quarter of 2014 was $2.7 billion.
One notable project that actively bid in the 1st quarter in the Dallas MSA was the Central Park Campus Health Sciences Facility and Conference Center. The project was designed by PBK Architects (Dallas, TX). It is being built by Pogue Construction (McKinney, TX) at an estimated cost of $36 million. (BidClerk project number 2468143.)
The areas surveyed for this BCI report are major-metro regions in Texas, including Dallas, TX; Houston, TX; San Antonio, TX; Austin, TX; and El Paso, TX.
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 full representation of BidClerk's full project database that 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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