The building teams of the largest 25 project starts in 2010 moved forward during the height of one of the worst recessions to hit the U.S. The Southwest was especially hard hit, as the total value of the largest starts makes clear. The value of projects on the list in 2008 was $14.8 billion; in 2010 it was only $2.9 billion.
Is there a light at the end of the tunnel? Some builders say yes. “We are definitely seeing an increase in commercial activity this year, in particular tenant improvements and renovations,” says Bob Hardison, president of Hardison/Downey Construction, Phoenix.