August 30, 2017 Comments Off on Healthcare Construction Spikes 108% in July Views: 481 Healthcare News

Healthcare Construction Spikes 108% in July

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After a sluggish June, healthcare construction rebounded in July, with starts increasing 108% compared to the previous month, according to Dodge Data & Analytics.

Healthcare construction activity was led by groundbreaking for the $1.5-billion Penn Medicine Patient Pavilion in Philadelphia. Other large healthcare facility projects that broke ground last month include: the $349-million Inspira Medical Center in Glassboro N.J.; the $125- million Bristal Jericho assisted living facility in Oyster Bay, N.Y.; a $110-million hospital expansion in Bethesda, Md.; and a $105-million ambulatory care complex at the University of Utah in Salt Lake City.

Dodge Data & Analytics counts healthcare projects as part of the institutional segment of the nonresidential building market. Nonresidential building in July was $231.2-billion (annual rate). The institutional segment climbed 16% in July, in contrast to declines in commercial, multifamily, and manufacturing segments.

“For nonresidential building, growth is being supported by its institutional segment, while commercial building is leveling off due to varied behavior by its individual project types,” said Robert A. Murray, chief economist for Dodge Data & Analytics.

Year-to-date, nonresidential building rose 8%, with institutional building up 12%. Commercial building held steady, combined with a 27% increase for manufacturing building that marks a shift from the category’s sharp declines in 2015 and 2016.

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