Commercial Construction

Paper Summary:

This paper describes commercial construction as "building projects exclusive of residential construction," and discusses commercial construction from both an economic point of view and from the point of view of the community. The paper discusses why commercial construction is a boon to the construction business, providing stable work even when residential construction is at a lull. The paper also discusses the complexities of managing commercial construction.

From the Paper:

"Commercial construction is defined as "building projects exclusive of residential [single- or two-family home] construction". It is one of the biggest segments of the entire construction industry and is believed to have strengthened the industry in recent years due to rapid and steady growth. The commercial sector has been growing steady for some time now as is evident from market research and reports. Back in 2000, Sinderman wrote: "...the state of the commercial real estate market is strong. The demand for office, industrial and retail buildings remains high, and, as Internet-based companies continue to grow, specialized facilities have become more popular than ever." In 2005, a construction report by McGraw-Hill supported that claim: "The commercial and infrastructure construction segments are providing a lift to the overall construction industry, marking a role reversal from most of the past two or three years. According to October 2004 figures for future construction contracts calculated by McGraw-Hill Construction, Lexington, Mass., overall new construction starts increased 4 percent in October versus September (on a seasonally adjusted basis), with nonresidential and infrastructure construction gaining while the residential sector fell slightly." (Late Rebound)"

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