Nonresidential Construction Surprisingly Strong
Thursday, August 25, 2011
San Diego Union-Tribune -- Despite economic woes nationally, San Diego County's nonresidential development picture has seen a healthy increase so far this year, according to the Construction Industry Research Board.
... Statewide, the total through July was $7.3 billion, up $821.7 million or 12.8 percent higher than for the same period last year. That means San Diego has contributed 43.3 percent of the state's growth in nonresidential construction activity.
"You might see the commercial real estate sector lead us out of the recession," said Norm Miller, professor at the University of San Diego, at the San Diego Association of Realtors real estate summit Wednesday. "It's usually housing that leads." (Full Story)