Development Gain Raises Construction Cost
By Marilyn Bowden
Local construction companies are seeing the cost of labor and some materials beginning to rise as developers move ahead with planned projects.
"What we are seeing in the South Florida market," said Tom C. Murphy, executive vice president at Coastal Construction, "is that some contractors are starting to increase their prices, both to cover expected increases in labor costs over the next year and because of the amount of work that is being discussed."
Through the recession and recovery, he said, contractors have been keeping estimates close to costs — and even sometimes below cost — just to keep their doors open. Now, with more work on the horizon, they are increasing their pricing.To read the full article and the rest of the Miami Today issue, GO TO e-MIAMI TODAY, an exact replica of the printed edition.