The low hipster homeownership rate of the past five years translates into a market of potentially millions of first-time homebuyers looking to find a home that matches their budget and fits into their hipster lifestyle. Real estate investors who want to tap into that trend should start with location: finding homes in communities with a heavy hipster demographic, and that are affordable for that demographic. — RealtyTrac
San Francisco is practically the reductio ad absurdum of gentrification: It’s already land limited on three sides by water, and the massive rise of the tech industry over the last few decades has dramatically increased both the population of the area and its wealth. [...]
But the blame shouldn’t go to the tech companies or their employees moving to San Francisco, however despicable some might be. Blame San Francisco for being pleasant, and its policymakers for being foolish — Quartz
[...] developer Ben Miller says, until now, it’s been impossible for local people to invest in development right across the street.
“Who owns your environment? You don’t know,” he says. “Who’s building your environment, who’s building your city? Not you.”
Miller is co-founder of the group Fundrise, which has started selling shares of private real estate projects to the public online. [...]
First they bought 1351 H Street with private capital, then crowdfunded about a third of it. — marketplace.org
“In New York, development is a three-dimensional chess game,” said Dan Kaplan, a senior partner at FXFowle Architects, “and the reason we’re seeing an increase in the use of cantilevers above neighboring buildings is linked to the complexity of finding a site that can utilize all available development rights.” — nytimes.com
The creaky staircase was covered in plastic, as was the living room furniture, but the bones were still there: pressed paper wainscoting in the hall, thickly painted moldings. We often got in trouble for walking too loudly in our clompy shoes up to the top floor at night. — Alexandra Lange
It’s a cellar’s market.
New Yorkers are spending more than the price of the average American home — on storage units.
Tribeca’s 56 Leonard just sold a 200-square-foot unit for $300,000. That’s $1,500 a square foot for a metal cage in the basement of the future luxury skyscraper. — nypost.com
Over at The Atlantic Cities, editor Emily Badger tried to put things in perspective and created this helpful little chart of median home prices in a few U.S. metropolitan areas (find a screenshot of the interactive chart below). More on 56 Leonard Street in the Archinect News: Work to Begin on...
An architectural rendering is a premonition of sorts, an illustration of what a park or a bridge, an apartment building or an office tower, might look like, even before the first splash of concrete licks the ground. But its most important mission is not to show the girth of a building’s footprint or the shape of the windows; it is to gin up enthusiasm for a project, or to incite resistance.
So the real purpose of these drawings is not to predict the future. Their real goal is to control it. — nytimes.com
Since the mid-1980s, Mr. Ackerman has been traveling to southeastern Minnesota from his home in the Twin Cities area to explore and acquire caves. He is the largest private cave owner in Minnesota and might be the largest in the country, but nobody is certain because not all of his caves have been fully explored to determine their extent. — nytimes.com
“An economic downturn is always a good thing for preservation,” says Regina O’Brien, chairperson of the Modern Committee of the Los Angeles Conservancy. “A lot fewer developers are making a lot less money, and therefore they have a lot less motivation to pursue these profit-oriented flips. But the problem is that the opposite is true when the market picks back up.” — thedailybeast.com
The Design Museum will remain in the building until the move in 2015.
Deyan Sudjic, the museum's director, said: "Whilst we are sad to be leaving Shad Thames we are leaving the building in the best possible hands..."
In a statement, Hadid said the building would be an opportunity "to consolidate our archive in a single location". It would also be used for architecture exhibitions where "the research and innovation of global collaborations in art, architecture and design" could be put on display. — guardian.co.uk
The houses aren't difficult to spot. They usually follow some variation of the following pattern: gray or greenish-gray paint, white or brick red trim, a colorful door -- mint green, orange, red -- and sometimes a colorful accent mailbox. Instantly recognizable horizontal wood-slat fencing is the final touch. — kcet.org
Zhang, a Chinese real estate developer, is the seventh richest self-made women in the world, worth $3.6 billion, according to Forbes. She's worth $800 million more than Oprah Winfrey, the world's best known self-made female billionaire.
Not only does Zhang's rags-to-riches story mirror that of China itself, but it is Zhang who has shaped much of the country's modern urban landscape, with the logo of her company SOHO China, on the side of buildings wherever you turn in Beijing. — cnn.com
Galaxy SOHO, designed by Pritzker Prize winning architect Zaha Hadid for Zhang' SOHO China, was built in 2012 on a 50,000 square meter plot in central Beijing. It was Hadid's first building in Beijing.
It's not your everyday real estate deal. A team of young entrepreneurs persuaded about 50 deep-pocketed investors to help them purchase a mountain. The deal just closed in April, and development on Utah's nearly 10,000-acre Powder Mountain is now underway. [...]
"We were inspired by the core concepts of the Sundance Film Festival and the Aspen Institute. You can build place around a shared ethos." — npr.org
Donald Judd bought 101 Spring Street, an 1870 cast-iron building, in 1968 for $68,000.
He stripped the dilapidated building down to its plaster walls and wood floors, illegally removing distractions like fire sprinklers.
Then Judd (1928-1994) spent decades turning the spaces into a showcase for his art and a place to rest his head on a bed made of wood planks. It’s carefully related to the colored tubes by Dan Flavin that march across the room, echoing the rhythm of a gorgeous row of windows. — bloomberg.com
After dabbling at the edges for political discourse for several years, the AIA's New York chapter has jumped in with both feet by releasing this week its first-ever mayoral platform.
"We just felt these issues were too important to stand on the sidelines anymore," said Jill Lerner, a principal KPF and the chapter's president. "Whether it's zoning and building codes or sustainability issues or climate change and Sandy, politicians set the agenda for how the city gets built." — crainsnewyork.com
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