AIA to develop database of stalled projects for investor financing
The American Institute of Architects (AIA) announced an emergent database for potential investors to research stalled building projects that are economically plausible but lack financing.
According to a recent survey, almost two-thirds of architects reported at least one project that stalled because of lack of financing. Results also revealed the average value of each stalled project is $50 million per firm, while AIA’s May Architecture Billing Index report shows a continued deterioration in business conditions.
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