PALO ALTO, CA-Unless you have literally been living under arock, anyone who lives or works in the San Francisco Bay Arearecognizes that the development of new commercial realestate projects is booming. According to various industrysources, construction starts in Santa Clara, San Mateo and SanFrancisco Counties alone have risen from $606 million in 2011 to$742 million in 2012, with projections of close to $1 billion for2013.

Although there are many theories for why commercial developmenthas exploded in the region, there is no doubt that one of theprimary driving forces is the increase in pending and plannedinfrastructure projects.

According to Infrastructure 2013: Global Priorities, GlobalInsights, a joint report from the Urban Land Institute andErnst & Young, infrastructure is the “lifeblood of prosperityand economic confidence in the 21st century.” Put anotherway, Howard Roth, Ernst & Young's Global Real Estate Leader,noted that “[t]he US has a continuing substantial need to upgradeits infrastructure to keep up with global competitors. There is aclear and powerful linkage between investments in infrastructureand the future growth, real estate development and vibrancy ofcities and regions. Capitalizing on these connections requirespublic leadership and investment as well as private initiative andcapital.”