Long Island has seen a decline in single-family residential construction over the past few years, but that has largely been offset by a rise in multifamily homes, reports The New York Times.
Due to an increased interest in living on Long Island, but a decrease in available space, many counties are approving construction on new complexes that can house multiple families. In Nassau County, for example, land is scarce, so apartment complexes are becoming a viable solution for families who want to live on the island.
"Sites that are not appropriate for single-family are now available for multifamily," Mitchell Pally, chief executive of the Long Island Builder's Institute, told the news source.
Construction companies across the country have fought through tough times lately, as the economic downturn has lowered the number of available projects. Fortunately, situations like Long Island are promising for the future of the industry.
Businesses that want to be prepared for construction growth over the next few years would do well to invest in construction equipment. The website IronPlanet offers a wide range of equipment backed by the IronClad Assurance program, which allows bidders to view a full inspection report before they buy.
