AIA Spearheads New Initiative to Revive Stalled Buildings
© Wikimedia Commons / Navy2004
The American Institute of Architects is spearheading a new initiative aimed at reviving the numerous stalled projects across the country. Since a significant portion of the US economy is construction based – measuring $1 out every $9 of total GDP output – it is imperative to get the industry back on track in order to revive the economy. However, the current obstacle many developers are facing is the lack of lending available by the banking system.
One method that the AIA is implementing in order to circumvent the unwillingness of banks to invest in real estate is to harvest investment from pension funds, and construction consortiums. The AIA is currently compiling a database of stalled buildings that will serve as a menu for potential investors. Any new and innovative methods for jump-starting the design and construction industry will undoubtedly be welcomed, as a recent survey of 700 firms discovered that 63% have at least one stalled project with an average value of $50 million. The results from this pending investigation are expected within the next couple of months.
Photographs: wikimedia commons user: Navy2004
12:01 PM Aug 3rd
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AIA Spearheads New Initiative to Revive Stalled Buildings http://dlvr.it/dgjXk #architecture
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AIA Spearheads New Initiative to Revive Stalled Buildings http://t.co/Toh1yvq via @archdaily
1:06 PM Aug 3rd
#AIA Spearheads New Initiative to Revive #StalledProjects: http://t.co/Toh1yvq (@archdaily via @AIA_SA) #architects #credit #jobs
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RT @AIACodes: AIA Spearheads New Initiative to Revive Stalled Projects: http://bit.ly/raCJK2 #architects
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RT @AIACodes: AIA Spearheads New Initiative to Revive Stalled Projects: http://bit.ly/raCJK2 #architects
2:26 PM Aug 3rd
The Bad News: RI legislature has eliminated school construction for 3 years; The Good News: the AIA works to get… http://fb.me/UM3MdbOK
2:45 PM Aug 3rd
A great idea by the AIA – they are collecting a DB of stalled construction projects and seeking funding to revive: http://is.gd/XWgLDI
3:38 PM Aug 3rd
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