The past decade has produced a rollercoaster of changes in construction costs. The building boom preceding the recession created unprecedented inflation on building materials pricing. Between 2005 and 2008, costs rose anywhere from 80 to 85 percent, estimates Kent Moe, a senior vice president of development with The Alter Group, a development company in Scottsdale, Ariz. “We were hanging onto our hats trying to catch up to the inflationary increases,” he says.
Register to view the full article
This article is part of our premium content subscription. You need to subscribe to gain access to premium content.
Why Register for NREIonline? It's simple and free, and here is what you get:
• Access to leading real estate industry research.
• Interactive rankings of commercial real estate professionals.
• Submit your own articles, (if approved) which will appear around the site.
Already a member? Log in.