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GuideWell was among companies to make notable construction announcements in the second quarter.
GuideWell was among companies to make notable construction announcements in the second quarter. (GuideWell)

New construction in the Greater Orlando area continues to keep up its torrid pace.

There were $1.6 billion worth of projects put up for bid in the second quarter, on par with the same period a year ago.

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All told, 387 projects came online in Lake, Orange, Osceola and Seminole counties, with 113 worth more than $1 million and the balance below that level, according to BidClerk, which tracks construction in its early phases.

This compares with $1.2 billion in the second quarter of 2014, with the numbers staying in the $1 billion-plus range for the last several quarters.

Also, in the second quarter of 2014, 381 projects came to bid. Some 117 were above $1 million and the rest were below that level.

All told, for the first half of the year, $2.7 billion of projects have been put out for bid.

"You're seeing consistent, continued growth," said Todd Ciganek, vice president of content for BidClerk. "There is nothing to indicate a slowdown at this point."

There is also a good amount of public projects, meaning infrastructure is being provided to support new private construction.

"It's the best way to expand," Ciganek said.

In the second quarter, 1,252 public works projects were bid out, compared with 1,279 the same period the prior year. Some 292 were above $1 million in this year's second quarter, while the balance were below that amount.

Private projects in this year's second quarter outpaced last year's, 529 to 418. Some 216 were above $1 million, while the balance were below that level.

Some notable developments in the second quarter that spurred bids or will lead to them include:

-GuideWell saying it was preparing for $11.3 million of site work and new construction for its innovation center at Lake Nona's Medical City.

-The I-4 Ultimate project finishing much of its prep work in anticipation of major construction during the summer.

-The BlackMINE Group saying it will invest up to $100 million of its own equity in the iSquare Mall + Hotel planned for North International Drive.

-Sutton Properties, owner of Lake Buena Vista Factory Stores near Walt Disney World, saying it could develop civil construction plans to submit for building permits on its outlet mall expansion, and planned to pursue a loan for the $22 million project.

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Have a tip about Central Florida development? Contact me at ktalley@growthspotter.com or (407) 420-5176. Follow GrowthSpotter on FacebookTwitter and LinkedIn.

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