Last summer, we were big advocators for the AIA’s innovative idea to establish a database of stalled projects. As we shared earlier, such a network would allow potential investors to finance halted projects deemed “credit-worthy”; thus, projects that may not acquire the necessary financial backing due to the lack of available credit may be able to be built thanks to public/anonymous investors. This initiative, which has been in effect for a mere 2 and a half months, could be a great opportunity for entreprenauial architects as the database provides a perfect platform for information and interaction. So far, the AIA reported that the database contains 36 projects worth approximately $1.2 billion with 50 investors – and those numbers are only expected to increase as efforts of the initiative are more publicly known. “This effort by the AIA to match projects with investors has no precedent we know of, and so we have to be pleased with the development of the database so far,” said AIA President Jeff Potter, FAIA. “We won’t be satisfied, however, until we see deals being consummated at a rapid pace as a result of our efforts.”
More about the database after the break.
