Renovation Nation--Slow Market Leads Owners to Consider Reuse

摘要

Increasingly, developers and government officials are recognizing the value of restoring and reusing existing building stock, yet with the faltering financial sector, money for private projects has just about stalled. "Money in the pipeline has dried up," says Joel Zingeser, director of corporate development for Grunley Construction in Washington, D.C. "The banks are not lending to anybody for anything." Lou Coletti, president of the Building Trades Employers' Association in New York, adds, "The current financial crisis has affected every market, and renovation is no different. Activity of all kinds is at a stop."