AIA developing stalled U.S. projects database

The American Institute of Architects is preparing to launch a nationwide database of stalled construction projects in an attempt to find ways to rejuvenate them, Real Estate Weekly reported. Over the next several months, the AIA expects to analyze projects that aren’t moving forward due to a lack of financing in the hopes that it will identify opportunities for collaboration and alternative funding sources, said Kermit Baker, chief economist for the organization, which puts out the monthly Architecture Billings Index, a key economic indicator for the construction industry. The most recent index showed that construction spending is still on the decline, and that 63 percent of architecture firms surveyed had at least one stalled project in their portfolio. “Financing was the principal reason things weren’t moving forward,” Baker said. [REW]

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