Grand Junction Commercial Construction Anticipation Slows

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) October 31, 2010 -- Altogether there are ten commercial or industrial projects approved as of September this year. They are collectively valued at $92.7 million.

Some companies are asking some preliminary questions about setting up shop locally. Specifics are not released on companies inquiring about business opportunities because they are confidential. It would seem that commercial interest is in existing structures being improved and contracted. That would seem to make sense.

There are a lot of businesses in a holding pattern until after the elections. People want to see where the economy is going. So of course we'll see what happens after that.

Commercial construction already is down in Grand Junction compared to last year. September’s year-to-date numbers show 10 commercial or industrial projects were approved this year compared to 23 projects during the same time last year. Total construction, which includes residential homes and offices, was down nearly 15 percent throughout the city in year over year comparisons.

New commercial development with million-dollar price tags generates permitting fees and more taxes for city coffers. But the largest benefit for the cities are new jobs and sales of goods and services that commercial developments bring. The valuations on Grand Junction's construction projects in the year-to-date analysis compared to last year, are up.

As of September, the Grand Junction calculated $92.7 million of construction projects so far this year, which is more than last year’s $73.5 million in construction projects during the same time.

The new City Market gas station and grocery store off 24 Road is nearing completion and jobs are offered in the paper. This on the northeast side of the Mesa Mall. The four-story Candlewood Suites, with 97 rooms is framed in and has windows. The same can be said of the Springhill Suites project at 3rd and Main St.

As with any city, Grand Junction looks to sales tax, property tax revenue and jobs to fund budgets. Grand Junction officials are already getting a nervous about balancing the city’s 2012 budget. When Washington tells us that the recession is over, someone needs to tell small city officials in the country. We already know the general population is unconvinced.
Grand Junction planning staff members have been directed to expedite the planning process, which has been a sticking point in the past.

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