Stretching Construction Budgets For Schools

"Today, school-related capital programs in many towns, cities and regions are still flush with cash and generating a boom market for engineers, architects and contractors. But, increasingly, those purse strings are being pulled tighter as states face budget pressures from dwindling post dot-com and Sept. 11 revenue, and as suddenly poorer taxpayers are less willing to underwrite the bill for new school space or expensive makeovers. As a result, educational owners are pushing hard for new efficiencies–shrinking or stretching out construction programs and demanding better economies. Others are seeking new financial partners and nontraditional funding methods, or deciding that creating new school space doesn't always mean building it."

Thanks to Constructionmail Newsletter Editor