Dive Brief:
- Numbers for the current fiscal year in Sacramento, Calif., leave little doubt that home building in the city is back, at least for now – 2011-12 saw 93 new houses, but developers should have three times that many in place by June 30.
- The figures for commercial construction in the state capital demonstrate the fickleness of the economy, however.
- The current pace of commercial construction – 26 projects so far this fiscal year – will be the lowest number in a year since 1999.
Dive Insight:
The value of housing is up, too. City officials say the value of housing built in the last half of fiscal 2012-13 was $98 million. The whole previous fiscal year brought $16.9 million.