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The study is devoted to scientific provisions and principles of economic development of construction organizations in modern conditions. Based on the study of the theory of economic development, a retrospective analysis of the cyclical nature of construction production, the main factors and directions of their interaction are systematized. Economic and mathematical modeling of the real economic development of construction production was carried out. New approaches to assessing and ensuring the effective functioning of construction organizations are proposed, including substantiation of the target setting of the organization's activities, classification of factor space multidimensional statistical analysis, determination of the optimal ratios of the main technical and economic indicators that ensure the financial and economic stability of construction organizations. The developed models of innovative development of a construction organization are based on increasing the level of total resource productivity. It has been proven that there is a close relationship between the level of economic development and the financial sustainability of a construction organization. An increase in the level of innovative activity in construction production leads to an increase in the financial strength of the organization. The revealed relationship gave the basis to form an algorithm for managing the innovative development of a construction organization on the basis of structure regulation of production costs. The forms and methods of stimulating the economic growth of construction organizations have been substantiated, which consist in improving the system of relations between the participants in the investment process being a significant reserve for economic growth.