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UPDATE: State of the Construction Industry

Bennett Legal Group • June 7, 2018

In general, things are looking positive for the construction industry as it continues to grow.

According to Dodge Data & Analytics, in December, the value of construction starts was up 12% from the previous month.  Overall, 2017 saw an increase of 3% for total starts. Dodge & Data Analytics tracks non-building construction, nonresidential construction and residential construction. All three of those categories showed growth in December but non-building construction had the highest growth. We may see that increase even more as the government plans to roll out a plan to repair and replace roads and bridges throughout the nation.

The American Institute of Architects (AIA) is also reporting projected growth in the construction world. The AIA projects nonresidential construction to grow 4% in both 2018 and 2019. They expect nonresidential commercial construction to drive that growth in 2018 and expect industrial and institutional construction, including education-related projects, to lead the growth in 2019. Similarly, Cushman & Wakefield’s research projects 12 million square feet of new office space in Manhattan alone over the next two years. In large part, this growth comes from the need to rebuild after the 2017 natural disasters, which we, of course, saw here in Florida.

Great news for the construction industry! We look forward to seeing this growth continue here in Florida over the next two years!

A man wearing a hard hat is shaking hands with another man.

Types of Construction Contracts Recognized in Florida

By Bennett Legal Group • April 24, 2024
Florida construction contractors have been busy in recent years, which is great news for profits. However, with many contractors accepting numerous residential, commercial, and industrial projects, it can become confusing when having to manage different contract types. Understanding what the legal rights and obligations specific to each type of contract are can be a [...] The post Types of Construction Contracts Recognized in Florida appeared first on Bennett Legal Group, P.A..
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Understanding the Operation and Enforcement of the Florida Construction Lien Law

By Bennett Legal Group • March 25, 2024
The Construction Lien Law in Florida authorizes parties who provide labor and materials for construction contracts, and professional service providers, such as architects, landscapers, engineers, interior designers, and land surveyors to file a lien as security for payment. The law also protects the property owner from paying a general contractor over the original agreed [...] The post Understanding the Operation and Enforcement of the Florida Construction Lien Law appeared first on Bennett Legal Group, P.A..
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Filing a Complaint Against a Contractor in Florida

By Bennett Legal Group • February 26, 2024
Construction contracts in Florida should clearly outline the rights and responsibilities of each party during a building project. Generally, most eventualities are covered by a well-drafted contract, but contractor disputes do sometimes arise. A property owner may be unsatisfied with a contractor’s work, professionalism or adherence to the terms of the contract, for instance. [...] The post Filing a Complaint Against a Contractor in Florida appeared first on Bennett Legal Group, P.A..
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What You Need to Know About Residential Construction Claims in Florida

By Bennett Legal Group • January 31, 2024
During residential construction projects in Florida, disputes of many types may arise. If these are not settled during initial discussions, homeowner claims against construction contractors can be imitated. The claim is usually due to the party seeking compensation (or other relief) because of work that does not meet the terms of the contract they [...] The post What You Need to Know About Residential Construction Claims in Florida appeared first on Bennett Legal Group, P.A..
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Top 10 Issues with Construction Contracts

By Bennett Legal Group • January 22, 2024
The construction industry is full of risk. This can be seen in how each party handles the risks they are assigned by contract. It also affects you as an investor or lender. If your loan goes south due to missed deadlines and budget overages! Construction loans typically carry higher interest rates than other types. [...] The post Top 10 Issues with Construction Contracts appeared first on Bennett Legal Group, P.A..
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What You Need to Know About Construction Litigation in Florida

By Bennett Legal Group • December 21, 2023
Construction disputes are relatively common within Florida’s construction industry, which remains robust and flourishing. Disputes can lead to construction litigation, a complex legal process that can become quite daunting for property owners, contractors, subcontractors, or whichever parties are involved in the dispute. It’s important to understand what’s involved in construction litigation in Florida and [...] The post What You Need to Know About Construction Litigation in Florida appeared first on Bennett Legal Group, P.A..
A 3d model of a building under construction with cranes and blueprints.

Mechanic’s Liens on Your Title in Florida

By Bennett Legal Group • November 28, 2023
If a mechanic’s lien is placed on title in Florida, it means that the property owner cannot sell or refinance the home. It’s essential to understand why a mechanic’s lien may be placed on a home, what you can do to remove it, and how to avoid the potentially crippling costs of construction litigation. [...] The post Mechanic’s Liens on Your Title in Florida appeared first on Bennett Legal Group, P.A..
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What is Substantial Compliance in Florida?

By Bennett Legal Group • October 23, 2023
“Substantial compliance” is a term frequently used in contract law in Florida and other states. Under Florida construction law, the term generally refers to a situation where work has been completed to a good enough standard to not constitute a breach of contract. For construction projects, there is a recognition that “close enough is [...] The post What is Substantial Compliance in Florida? appeared first on Bennett Legal Group, P.A..
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Common Causes of Commercial Real Estate Disputes in Florida

By Bennett Legal Group • October 5, 2023
Preventing real estate disputes should be a priority in every commercial construction project but even the most professionally drafted contracts can run into issues. Legal disputes can be tough for both budgets and timescales of construction projects. Disagreements should be dealt with promptly and workable solutions found, with litigation generally considered a last resort. [...] The post Common Causes of Commercial Real Estate Disputes in Florida appeared first on Bennett Legal Group, P.A..
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Remedies for Breach of Contract in Construction Law

By Bennett Legal Group • August 8, 2023
The signing of contracts is a basic element of construction projects, and contract breaches occur when one of the parties partly or wholly fails to fulfill the obligation(s) described in the contract. With construction projects, the stakes are generally high and contracts can be lengthy and complex, so a breach of contract can have [...] The post Remedies for Breach of Contract in Construction Law appeared first on Bennett Legal Group, P.A..
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