A stalled development site at 50 West StreetIn an effort to find investors to restart some of the many stalled real estate developments across the country, the American Institute of Architects launched a website that lists all of the stalled projects in the United States.
According to the Wall Street Journal, the website is still in its early stages and it only lists a handful of projects. But now that it’s launched, AIA hopes developers and architects will submit information about stalled projects and help it grow more quickly.
“We see this as a vehicle to be a catalyst in helping to identify projects that have merit,” said AIA President Clark Manus. “The big motivation for us is to make sure the info is out there.”
The Journal noted that as jobs become more scarce for architects — demonstrated in the downward trending Architectural Building Index — a construction restart facilitated by the website could yield more jobs for the very people AIA serves. [WSJ]