Century Construction Group was formed in 1997 as a two-employee & one truck general contracting firm and has steadily diversified. In addition to general contracting, Century Construction has extensive experience in a variety of contracting delivery methods including design/build and construction management. Their client services reach beyond contracting and regularly include a systematic pre-construction process to assure quality control project costs and schedule duration. They currently have a staff of over 175 employees and more than $100 million of construction volume in progress.
What challenges did COVID-19 pose to Century Construction? What challenges are contractors continuing to navigate?
Some of the biggest challenges our team has faced due to COVID-19 have been shipping delays and price increases in materials. Sharing with owners that construction costs have increased due to rising material prices and supply and labor shortages is never a fun conversation. Currently, contractors are looking ahead to the next 6-12 months trying to determine if the supply chain and labor prices will still be inflated and how that will affect building demand.
Many branches of Commercial Real Estate have noticed fluctuations in prices post-pandemic. What price fluctuations have you found to be most significant? How have these fluctuations impacted construction?
The biggest price fluctuations we have seen have been in the cost of lumber and steel. While the cost of lumber has decreased in the past few months, steel continues the cause the most headache. We are currently having to lock in steel quotes within 24 hours of receiving an estimate or the price could change. Not to mention, the lead time to get steel and a pre-engineered metal building can be anywhere from 16-24 weeks, which causes a significant delay in the progress of a construction project.
Despite the pandemic, construction in Nashville is booming. What factors do you think have led to substantial growth in Nashville’s market?
Nashville is a unique market in the fact that construction hasn’t slowed despite the pandemic. One of the biggest factors causing Nashville’s booming market is that people want to live here. An influx of residential demand brings more houses, schools, businesses, and jobs. Many large companies and corporations have chosen Nashville as a destination for a new or a secondary headquarters as well. These decisions can likely be contributed to the relatively low cost of living, no-income-tax policies, and our state government. Nashville is a great city, boasting incredible art, music, entertainment, and outdoor activity options for everyone who moves here!
How would you compare Nashville’s market and construction rates to the rest of the United States?
Let’s face it, everyone wants a piece of the pie in Nashville, and for construction companies, there is plenty to go around. While Century Construction Group is fairly new to the Nashville market, we have been able to find great projects. Apart from the rising cost of supplies and materials, one of the biggest challenges that construction companies are facing is finding the right subcontractors. Subcontractors’ availability for projects is very limited. It may take seven to eight calls before we find a reputable subcontractor who is available to assist with a project. Once we find the right subcontractor, it’s all about scheduling and pricing to ensure we can get the job completed. Finding subcontractors in other markets is not as competitive, causing construction rates to look slightly different in Nashville’s market compared to others.
Despite the setbacks of COVID-19, what most excites you about the future of commercial real estate in Nashville? How do you think Century Construction will contribute to Nashville’s future growth?
The thing that excites us most about the future of commercial real estate in Nashville is that
we never know what to expect when it comes to what construction needs may arise. Nashville is a city full of creative and innovative people and it attracts businesses with the same mindset. Commercial Real Estate can feel boring in other markets, but the passion of the people of Nashville, the new business ideas, and companies relocating here is what will keep Nashville moving, building, and growing. It’s an exciting time to be here and we are grateful to be part of it. We hope that Century Construction Group can continue to develop relationships in the city and be a trusted general contractor who can take an idea and make it come to life. It’s funny that you ask what excites us most about the future of commercial real estate in Nashville because Century Construction’s motto is Building the Future, and we can say that we are really excited about building the future in Nashville!
Margaret-Claire “MC” Walker is the Business Development Manager for Century Construction Group. She loves working with clients, subcontractors, and networking with many different industries. Building the future is the motto for Century Construction Group, but MC knows that building the future means building relationships. Feel free to reach out and connect with MC, it may lead to a cup of coffee or a whole new opportunity. You can contact her at mcwalker@centurycg.com or 615-540-4081.
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