Architectural firms are steadily reviving projects that were put on hold during the last economic downturn.
About three quarters of the estimated 700 firms that serve as panelists on AIA’s Architectural Billings Index (ABI) had delayed or canceled major design projects in response to recessionary pressures. Nearly one-third of those firms now say they have since restarted stalled projects.
Mixed-use projects were the most likely to receive new life. But only 26% of the panelists surveyed say they’ve restarted residential projects.
AIA says that the loosening of construction credit and a general improvement in the industry’s outlook on the economy continue to drive billings and construction spending. The ABI in August stood at 53.0, lower than the 53.6 score of August 2013 or the 55.8 in July 2014. AIA notes, however, that any ABI score above 50 indicates growth.
August billings were stronger than the national index in the Northeast and South, and for multifamily residential and mixed-practice projects.
Related Stories
Sports and Recreational Facilities | Jan 25, 2018
Virginia Beach: A surf town with a wave problem no more
A world-class surf park will highlight Virginia Beach’s new live-work-play development.
Multifamily Housing | Jan 24, 2018
Apartment rent rates jump 2.5% in 2017, led by small and mid-sized markets
The average price for one-bedroom units increased the most.
Architects | Jan 24, 2018
Danish design firm Schmidt Hammer Lassen Architects joins Perkins+Will
Partnership expands Schmidt Hammer Lassen’s capacity for international growth; complements Perkins+Will’s design philosophy and strengthens the firm’s cultural practice.
Hotel Facilities | Jan 24, 2018
U.S. hotel markets with the largest construction pipelines
Dallas, Houston, and New York lead the way, with more than 460 hotel projects in the works.
Architects | Jan 24, 2018
Strong finish for architecture billings in 2017
The Architecture Billings Index concluded the year in positive terrain, with the December reading capping off three straight months of growth in design billings.
Architects | Jan 19, 2018
CTBUH announces global finalist projects for annual awards program
The Lotte World Tower, in Seoul, and 150 N. Riverside, in Chicago, are among the finalists.
Architects | Jan 10, 2018
NELSON and FRCH Design Worldwide are merging
Their chief executives will manage the company jointly, by region.
Architects | Jan 10, 2018
7 steps to ending a low growth cycle
Here are the top 10 marketing techniques as rated by high-growth firms and how they compare to their no-growth counterparts.
Architects | Jan 8, 2018
ZGF Founding Partner Robert Frasca, 84, passes away
Frasca was a driving force in transforming the architectural firm from its early beginnings as a regional office into one of the nation’s largest practices, with 600 design professionals across six offices in the U.S. and Canada.
