AIA Database Now Totals More Than $1 Billion Worth of Stalled Projects

by Jonathan McGaha | January 18, 2012 12:00 am

The American Institute of Architects’ stalled projects database now contains 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.

Launched on November 7, the AIA’s stalled projects database, housed at www.aia.org/stalledprojects[1], is designed to let developers and architects network with investors interested in lending to projects that have been stalled primarily due to lack of financing. The database seeks to addresses the persistent lack of financing facing the construction sector, which has an unemployment rate of 16 percent, almost twice the national average.

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. If each of the projects listed in the database obtained financing, according to this equation, 28,500 jobs could be created nationwide.

Source URL: https://www.metalarchitecture.com/news/industry-news/aia-database-now-totals-more-than-1-billion-worth-of-stalled-projects/

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