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
| Jan 16, 2013
SOM’s innovative Zhengzhou Greenland Plaza opens
The 2.59-million-square-feet building houses a mixed-use program of offices on its lower floors and a 416-room hotel.
| Jan 15, 2013
Morris Architects joins Huitt-Zollars
Morris, which will continue to provide services under its current name and leadership, is entering its 75th year of continuous practice as an architectural, interior design, landscape architecture, and planning firm.
| Jan 11, 2013
HMC Architects: In their own voices
See what HMC professionals say about their “Best AEC Firm to Work For”
| Jan 10, 2013
Guide predicts strongest, weakest AEC markets for 2013
2013 Guide to U.S. AEC markets touts apartments, natural gas, senior housing and transmission and distribution.
| Jan 9, 2013
Panasonic and Bluebeam preview new architect app at CES 2013
Panasonic and Bluebeam Software collaborate to develop and introduce the 4K tablet and software to the design and construction industry.
| Jan 3, 2013
Answered prayers
A bold renovation enables a small church to expand its mission on a grand scale.
| Jan 3, 2013
Top BIM/VDC articles of 2011-2012
A compendium of BD+Cs top building information modeling and virtual design + construction articles from 2011-12.
| Jan 3, 2013
8 trends shaping today’s senior housing
The ranks of those age 65 and older are swelling by the thousands every day. Is there an opportunity for your firm in the seniors housing market?
| Jan 2, 2013
Trends Report: New facilities enhance the quality of campus life
Colleges and universities are building state-of-the-art student unions, dining halls, and other non-academic buildings to enrich the campus experience, boost enrollment, and stay competitive.
