An infographic in the February 2013 edition of the Architectural Record suggests that renovation projects in the non-residential sector will jump 8 percent to $42 billion this year.
The report, which is based on data from McGraw-Hill, further suggests that New York City led the nation in 2012 with $6.12 billion in renovation starts. Perhaps the surge of new work already underway in NYC is the reason why the same report also named the Northeast as the only region that will not experience an increase in renovation starts this year.
Other top cities for renovation starts in 2012 were Chicago, Washington, D.C., Los Angeles and Boston. That focus is expected to shift in 2013, with the Southeast leading the way for new renovation projects.