The recently unveiled bipartisan “Invest in America Act” would attract as much as $125 billion in global investment in aging buildings and crumbling infrastructure in the U.S., according to supporters of the federal legislation.
The bill is supported by The American Institute of Architects (AIA) and The Real Estate Roundtable (RER). It could create as many as 284,000 American jobs, sponsors say.
The legislation would repeal the “Foreign Investment in Real Property Tax Act” (FIRPTA). First enacted in 1980, FIRPTA is a tax that “deflects global capital from U.S. cities and towns by imposing a capital gains tax on global investors that finance any U.S. real property,” according to an AIA news release.
The law “greatly inhibits state and local leaders from partnering with global investors—in addition to leveraging domestic partners—to improve their communities, including renovating aging buildings; constructing roads, bridges, tunnels, hospitals and airports; developing affordable housing; and utilizing new Opportunity Zones,” the release says.
Related Stories
| Jan 9, 2014
16 recommendations on security technology to take to your K-12 clients
From facial recognition cameras to IP-based door hardware, here are key technology-related considerations you should discuss with your school district clients.
| Jan 9, 2014
Harley Ellis Devereaux, BFHL Architects announce merger
Effective January 1, 2014, Ralph Lotito and Brett Paloutzian have merged BFHL, comprising 15 healthcare architects, with Harley Ellis Devereaux. A national architecture and engineering firm in practice since 1908, Harley Ellis Devereaux has offices in Chicago, Detroit, Los Angeles, San Diego and San Francisco, CA.
| Jan 9, 2014
Special report: Can design prevent another Sandy Hook?
Our experts say no, but it could save lives. In this report, they offer recommendations on security design you can bring to your K-12 clients to prevent, or at least mitigate, a Sandy Hook on their turf.
| Jan 8, 2014
Dan Noble succeeds H. Ralph Hawkins as president/CEO of HKS
H. Ralph Hawkins, FAIA, FACHA, LEED AP,current chairman, president and CEO, named Dan Noble FAIA, FACHA, LEED AP, his successor as president and CEO, effective January 1, 2014. Jeff Stouffer, AIA, will succeed Craig Beale, FAIA, FACHA, FACHE, as director of the firm's healthcare practice.
| Jan 8, 2014
Architect sentenced to a year in jail for firefighter's death
Architect Gerhard Becker was sentenced to a year in LA county jail after pleading no contest to the manslaughter of a firefighter who died while trying to contain a fire in a home the architect had designed for himself.
| Jan 7, 2014
Concrete solutions: 9 innovations for a construction essential
BD+C editors offer a roundup of new products and case studies that represent the latest breakthroughs in concrete technology.
Smart Buildings | Jan 7, 2014
9 mega redevelopments poised to transform the urban landscape
Slowed by the recession—and often by protracted negotiations—some big redevelopment plans are now moving ahead. Here’s a sampling of nine major mixed-use projects throughout the country.
| Jan 6, 2014
What is value engineering?
If you had to define value engineering in a single word, you might boil it down to "efficiency." That would be one word, but it wouldn’t be accurate.
| Jan 6, 2014
Green Building Initiative names Jerry Yudelson as new President
The Green Building Initiative announced today that it has named Jerry Yudelson as its president to accelerate growth of the non-profit and further leverage its green building assessment tools, including the highly recognized Green Globes rating system.
| Jan 6, 2014
An interview with Jerry Yudelson, President, The Green Building Initiative
Green building consultant Jerry Yudelson has been named President of the Green Building Initiative and the Green Globes rating program. BD+C's Robert Cassidy talks with Yudelson about his appointment and the future of Green Globes.
