The Santa Fe market looks strong for 1999, also. They're also building a new Whole Foods grocery store and are looking at the potential for a new grocery in nearby Pojoaque Pueblo. Klinger Constructors Inc. will remodel Santa Fe's Lensic Theatre into a performing arts center this year, as well as build an addition to and remodel the Wheelwright Museum. Commercial projects continually arise. Gable says that he anticipates about a five percent decrease in commercial construction compared to a five percent increase in 1998.
Land prices are still reasonable.
Office space construction is predicted to burgeon this year, though not so much in the large developments as in smaller condominium projects. He projects development of about 200,000 to 250,000 square feet of office condos. She predicts 100,000 square feet of such condos will be built. Often, companies will build for themselves and use a high percentage of the space, leasing out the rest, as in the First State Bank project in Albuquerque. This trend will continue for those building their own buildings.