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New Construction Condominiums

The new construction of condominiums was a hot industry to be in from the 1980s through the early part of the 21st century, but the collapse of the residential building market over the past half-decade has cooled the market considerably. With people still looking to enjoy city life with the privacy of their own home, it's likely the new construction of condominiums will be among the first parts of the construction industry to experience an upswing.

As the new construction of condominiums changes with new ideas and technologies, multiple construction methods are now being offered. The traditional method for the new construction of condominiums is to use the design/bid/build approach, where an architect or engineer oversees the project. They handle the design, produce construction drawings, oversee bids and contracts and the building process itself. The links between the architect, the client and the main contractor are direct. The contractor can win a project through the lowest blind bid or through the construction manager at-risk method, where the contractor guarantees to deliver the project within a guaranteed maximum price. Instead of simply serving as construction manager, the contractor also serves as a consultant to the owner during the design and development processes.

The design-build method has been increasing in popularity over the past decade. In design-build, the owner doesn't hire an architect to design the project, then seek bids from a contractor. In this case, the owner solicits bids from a architect/contractor teams, who develop their own designs and include complete design and construction costs in their bids for new construction ofcondominiums. This is different from the traditional process, where the architect completes the design before the contractors put in their bids.

In the management procurement method, the owner holds the greatest amount of control in the new construction of condominiums. Instead of hiring an architect to handle the project in construction, or hiring a consortium, the owner oversees every part of the process. They hire the architect, the construction manager and, in many cases, the subcontractors. Proponents of this method believe it speeds up the procurement process and increases flexibility throughout the building process.

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