Source : Webster's Revised Unabridged Dictionary (1913)

Erection \E*rec"tion\, n. [L. erectio: cf. F. ['e]rection.]
   1. The act of erecting, or raising upright; the act of
      constructing, as a building or a wall, or of fitting
      together the parts of, as a machine; the act of founding
      or establishing, as a commonwealth or an office; also, the
      act of rousing to excitement or courage.

   2. The state of being erected, lifted up, built, established,
      or founded; exaltation of feelings or purposes.

            Her peerless height my mind to high erection draws
            up.                                   --Sidney

   3. State of being stretched to stiffness; tension.

   4. Anything erected; a building of any kind.

   5. (Physiol.) The state of a part which, from having been
      soft, has become hard and swollen by the accumulation of
      blood in the erectile tissue.

Source : WordNet®

erection
     n 1: an erect penis [syn: {hard-on}]
     2: a structure that has been erected
     3: the act of building or putting up [syn: {erecting}]