Construction activity is slowing at an increasing rate in Richmond, leading to more layoffs, longer pay terms and downward pressure on the prices subcontractors can charge. For the first time in recent memory, builders say foreign laborers are also starting to return to their countries of origin. In January, builders filed 123 residential building permits… Read more »
building permits
Building volume, value plummet in Henrico, Chesterfield
Construction in Richmond is entering a deep chill. Building volume is down as much as 50 percent in some parts of Richmond. And the projects that are coming out of the ground appear to be smaller than in the past, according to an analysis of building permit data. But despite a steep pullback, the permitting… Read more »