| Architecture Billings Index Drops to Lowest Level Ever
Architecture billings have dropped to their lowest level since the inception of the Architecture Billings Index in 1995, the American Institute of Architects reported.
A score below 50 indicates a drop in billings, and the March ABI rating dropped to 39.7, following its steep 9-point decline in February. Moreover, the Midwest was the weakest region in the nation with a score of 36.9.
“We’ve seen an 11-point fall-off in the first quarter of the year and the prognosis for commercial construction later this year is not favorable at this point,” said AIA Chief Economist Kermit Baker. “Aside from historically low project demand, all regions are showing very poor business conditions. This is not likely to reverse itself anytime soon.”
The inquiries for new projects score was 48.0, also the lowest mark for the survey.
Survey: Green Home Building Expected to Double by 2012
Research on green home building found that the residential market is expected to double in the next five years.
Currently, the residential green building market is worth $12 billion to $20 billion (6% to 10% of the overall market) but is expected to reach $40 billion to $70 billion, or 12% to 20% of market share.
Moreover, 40% of builders think green building helps them market their homes in a down market.
The findings were released by McGraw-Hill Construction, publisher of Midwest Construction, which investigated changes in green building activity between 2001 and 2007. The research was co-sponsored by the National Association of Home Builders.
Quality has emerged in this down market as the most important reason for building green. Previously, builders were motivated by energy cost savings of green homes and doing the right thing, which still came in No. 2 this year. This is likely due to green home marketing and how it improves quality of life.
“We have hit the tipping point for builders going green,” says Harvey Bernstein, vice president of industry analytics, alliances and strategic initiatives.
This year, the number of builders who are moderately green (those with 30% green projects) has surpassed those with a low share of green (those who are green in less than 15% of their projects). Next year, even greater growth is expected, with highly green builders (those with 60% green projects) surpassing those with a low share of green. This year has seen an 8% jump over last year, and another 10% increase is expected next year.
10 Projects Honored By AIA Wisconsin
Ten projects have been recognized for excellence in design by the AIA Wisconsin.
A diverse mix of projects was recognized, including a waterfront museum, an entertainment destination and residences.
The projects and architects receiving Honor Awards for overall design excellence comprised the following: Discovery World at Pier Wisconsin (HGA Architects and Engineers); Downtown Bar (Johnsen Schmaling Architects); Urban Infill 02 (also Johnsen Schmaling) and Park Terrace Row Houses and Bluff Homes (Vetter Denk Architecture).
Six projects selected to received Merit Awards.
View project descriptions by visiting www.aiaw.org/media/08DA.shtml on the Internet. |