Durability + Design
About  |  Subscribe  |  Advertise  |  Connect 
Follow us on Twitter Like us on Facebook


Download our free ebook: Generic Architectural Coatings: Performance and Uses

D+D News

Main News Page

‘Stalled Projects’ Database on the Move, Totaling $1.2 Billion in Projects, AIA Reports

Friday, January 20, 2012

More items for Color + Design

Comment | More

Just more than two and a half months after its launch, the American Institute of Architects’ “stalled-projects” database includes 36 projects worth a total of almost $1.2 billion, and 50 (both anonymous and public) investors looking for projects to finance, the AIA announced last week.

 Jeff Potter
 Jeff Potter
 AIA President

Launched on Nov. 7, the AIA’s stalled projects database, located at www.aia.org/stalledprojects, is designed to facilitate networking of developers and architects with investors interested in lending to projects that have been stalled primarily due to lack of financing.

The database seeks to address the persistent lack of financing facing the construction sector, which is afflicted with an unemployment rate of 16%, almost twice the national average, AIA says.

According to a study by George Mason University economist Stephen J. Fuller, each $1 million in new construction spending supports 28.5 full-time, year-round-equivalent jobs, AIA said. If each of the projects listed in the database obtained financing, according to this equation, 28,500 jobs could be created nationwide.

“This effort by the AIA to match projects with investors has no precedent we know of, and so we have to be pleased with the development of the database so far,” said AIA President Jeff Potter, FAIA. “We won’t be satisfied, however, until we see deals being consummated at a rapid pace as a result of our efforts.

“In large part the fortunes of the entire U.S. economy rest on whether the design and construction industry can create jobs,” said Potter.

AIA said the credit-crunch crisis in design and construction shows no signs of abating. A report issued by the AIA’s economics and market research group finds that the share of projects stalled due to financing problems through August 2011 has almost doubled since 2008, and that one in five stalled projects directly results from financing problems. A report on the situation by the economics and market research group is available at Stalled Construction Projects and Financing.

“Indeed, almost two-thirds of architects responding to a May AIA survey reported at least one project stalled due to lack of financing,” the institute said.

AIA last year issued a call for a loosening of tight credit markets as part of a broader campaign for policy actions by Congress and the Obama administration to address ongoing weakness in the economy and the construction industry.

In a “white paper” policy document issued last September—The Built Environment’s Role in the Recovery—AIA called for actions to ease tight credit markets; revive the “Build America Bonds” program; establish a national infrastructure bank; accelerate green construction in the commercial and educational sectors; and maintain transportation funding.

The white paper was the subject of the D+D story AIA Offers Blueprint for Actions to Boost Construction, Economy.


Tagged categories: American Institute of Architects; Architecture; Construction; Design; Economy

Comment Join the Conversation:

Sign in to our community to add your comments.

World of Concrete
World of Concrete 2016

NEW for 2016: The all-new precast area focuses on precast products, technologies and equipment including coring machines, pipe unloaders, precast forms, above/below ground precast, concrete pipe, manhole and septic tank equipment, and more!

Atlas Material Testing Technology

Helping You Put Your Products To The Test

• Outdoor Accelerated
• Laboratory Testing
• Accelerated Weathering

www.atlas-mts.com atlas.info@ametek.com

PPG Protective and Marine Coatings Group
Industrial strength performance in ONE can.

Now get the durability and protection of two components in one can: Amercoat® ONE, PSX® ONE and Sigmadur ONE.

Dumond Chemicals Inc.
Peel Away®1 Heavy Duty Paint Remover

has been the #1 Choice of Professionals who perform Historic Restoration and Lead Paint Abatement for over 25 years. Peel Away®1 is an eco-safe method for removing up to 30 Coats of oil-based lead paints in a single application.

Keim Mineral Coatings
Translucent concrete stains for new and old concrete

Penetrating, translucent mineral silicate stains harmonize uneven concrete color and blend patches and repairs, without the "painted" look. Will never peel.

SSPC: The Society for Protective Coatings
SSPC 2016 Register Now!

SSPC2016 is earlier this year, don't forget to book your plane tickets and hotel. See you soon. For more information visit www.sspc2016.com

KTA-Tator, Inc. - Corporate Office
KTA Consulting Services

Independent assessment of coating failures – in the field and laboratory.
Contact: Kevin Brown, 336-386-4000

Beautiful Wood, NO flames

Achieve a Class A flame spread rating on your fine wood products with a clear, varnish-quality, durable finish. PyroCide Clear by PyroTech


Technology Publishing Co., 2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951

TEL 1-412-431-8300  • FAX  1-412-431-5428  •  EMAIL webmaster@durabilityanddesign.com

The Technology Publishing Network

Durability + Design PaintSquare the Journal of Protective Coatings & Linings Paint BidTracker


© Copyright 2012-2015, Technology Publishing Co., All rights reserved