For Architects, a Downturn

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By Kris Hudson From The Wall Street Journal Online

A key barometer of construction-industry activity is signaling that the abrupt downturn in commercial construction could run deeper, and last longer, than previously expected.

The American Institute of Architects said its Architecture Billings Index for last month declined to 41.8, its lowest monthly reading since the aftermath of the Sept. 11, 2001, terrorist attacks. As recently as July, the index was near 60.
The index's 8.9-point slide in February follows a 4.3-point drop a month earlier, amounting to a 24% swoon over those two months. (Any reading above 50 indicates an increase in billings; a reading below 50 means billings for the industry declined.)

Jan Hatzius, chief U.S. economist at Goldman Sachs Group, said the ABI's decline indicates that the economic slump has engulfed commercial construction in addition to residential and likely confirms that the broader economy is in recession.
"We're really just starting to see significant deterioration in the commercial construction market," Mr. Hatzius said.
"I would tend to play down month-to-month moves, but this [February decline] certainly is consistent with the idea that the economic downturn is becoming more broad-based than it was a few months ago."

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Building to make way for student housing

By Jim Carney
Beacon Journal staff writer

Published on Tuesday, Mar 04, 2008

link to article - http://www.crainscleveland.com/apps/pbcs.dll/section?category=framelink&link=www.ohio.com%2fnews%2f16206847.html&oas=www.ohio.com_news_16206847.html

The wrecking ball will begin knocking down a 98-year-old building on South Main Street in downtown Akron this week to make way for a $25 million student housing and retail project.

Demolition of the building on the east side of South Main Street between Exchange and Cedar streets where Jillian's was located is expected to begin Wednesday and take about four days to complete, said Walter Jakubiak, supervisor of Eslich Wrecking of Louisville.

Crews today are expected to take down the archway between the Jillian's building and the building that continues to house Brubaker's Pub at 373 S. Main St.

The demolition is part of a project that will provide housing to 450 University of Akron students as well as retail space along South Main Street.

Ultimately, the Brubaker's building also will be torn down, but the date is unknown.
Brubaker's remains open and its owner, Scott Brewer, said plans are for his pub to be part of the new development, even though details haven't been worked out.

Martin Mehall, owner of the downtown housing-retail project, said his company is trying to get a coffee shop and some of the ''most exciting retailers you can imagine'' in the store space.

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