Architects are rebuilding their firms -- here's how

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Archiseek / Canada / News / 2004 / July 19

Around the beginning of last year, architects Jack Diamond and Don Schmitt decided it was time to dissolve their long-time partnership. With the stroke of a pen -- or perhaps it was a drafting pencil -- the firm behind Toronto's future Four Seasons Centre for the Performing Arts and Jerusalem's City Hall suddenly was no more. But one could forgive their many clients and public admirers for not noticing. That's because the well-known duo are still very much working together. Only now they're not co-partners but "principals" in a new corporation with 12 other equity owners -- all of them senior architects who were offered shares as a reward for their work and incentive for their loyalty.Robust growth during the past five years, both domestically and internationally, has vaulted Diamond and Schmitt Architects Inc. into a new league, Mr. Diamond says, and sharing the spoils with top talent who help clinch or direct projects was an overdue move.

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