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
University Buildings | Feb 20, 2015
Penn strengthens campus security by reviving its surrounding neighborhood
In 1996, the University of Pennsylvania’s sprawling campus in Philadelphia was in the grip of an unprecedented crime wave. But instead of walling themselves off from their surrounding neighborhoods, the school decided to support the community.
Sports and Recreational Facilities | Feb 20, 2015
Chargers, Raiders propose joint stadium in Carson
Two rival teams may bring the NFL back to Los Angeles.
Cultural Facilities | Feb 20, 2015
‘Floating’ park on New York’s Hudson River moves one step closer to reality
The developers envision the 2.4-acre space as a major performance arts venue.
Multifamily Housing | Feb 19, 2015
Is multifamily construction getting too frothy for demand?
Contractors are pushing full speed ahead, but CoStar Group thinks a slowdown might be in order this year.
Architects | Feb 19, 2015
Illustrator Federico Babina imagines architecture from nowhere
The illustrator imagines architecture where past, present, and future intertwine.
Codes and Standards | Feb 18, 2015
USGBC concerned about developers using LEED registration in marketing
LEED administrators are concerned about a small group of developers or project owners who tout their projects as “LEED pre-certified” and then fail to follow through with certification.
Multifamily Housing | Feb 18, 2015
Make It Right unveils six designs for affordable housing complex
BNIM is among the six firms involved in the project.
Office Buildings | Feb 18, 2015
Commercial real estate developers optimistic, but concerned about taxes, jobs outlook
The outlook for the commercial real estate industry remains strong despite growing concerns over sluggish job creation and higher taxes, according to a new survey of commercial real estate professionals by NAIOP.
Museums | Feb 18, 2015
Foster + Partners' National Museum of Marine Science and Technology breaks ground in Taiwan
The museum will be home to an aquarium, exhibition space, and waterfront views.
University Buildings | Feb 18, 2015
Preparing for the worst: Campus security since Virginia Tech
Seven years after the mass shootings at Virginia Tech, colleges and universities continue to shake up their emergency communications and response capabilities to shootings and other criminal threats.