Durability + Design

Building Performance and Aesthetics

A Product of Technology Publishing
JPCL/PaintSquare | D+D | Paint BidTracker

Subscribe to D+D Magazine
Durability + Design eBook: The Technology of Coatings in High-Rise Structures

Paint and Coatings Industry 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.

L. M. Scofield
Scofield High-Performance Concrete Floors

Scofield's Formula One Polished Concrete System is the next step in the evolution of architectural concrete: durable, low-maintenance and sustainable.


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

Determine Specification Compliance:
• Surface Preparation
• Moisture Content
• Paint Materials & Application
• Aesthetics
Contact:
Kevin Brown, 336-874-2651
Corporate:
1-800-245-6379 x208


Dumond Chemicals Inc.
LEAD STOP®
Lead Encapsulating Compound

is a thick elastomeric coating that is made to be a long lasting barrier over lead-based paint. LEAD STOP® provides a protective barrier coat that seals and locks in lead that is contained in old lead-based paints on previously painted surfaces.


Chemique Inc.
Paint Removal Made Easy!

Remove multiple coats in one application. Easy to use and safe. All products meet or exceed V.O.C. regulations. Contain no methylene chloride, methanol or petroleum distillates.


H&C Decorative Concrete Products
A comprehensive line for all your decorative concrete needs.

H&C® is committed to beautiful concrete protection and offers a variety of treatments and unlimited color possibilities.


No-Burn, Inc.
Designed to passively protect

Same trusted brand, new code compliant uses. We’ve answered the demand for better passive fire protection. Use coatings that meet the 2012 iCodes


Westcoat
Bringing New Colors To Concrete Surfaces

Liven up your concrete surfaces with Westcoat's newest color choices. Introducing a myriad of Fast Stain, Liquid Dazzle, and Texture-Crete Interior colors.

 
 
 
Technology Publishing

The Technology Publishing Network

The Journal of Protective Coatings & Linings (JPCL) PaintSquare
Durability + Design Paint BidTracker JPCL Europe

 
EXPLORE D+D:      Interact   |   Blogs   |   Resources   |   Buying Guides   |   Webinars   |   White Papers   |   Classifieds
GET D+D:      Subscribe   |   Advertising Media Kit
KNOW D+D:      About D+D   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
 

© Copyright 2010-2014, Technology Publishing, Co., All rights reserved
2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com