Almost two-thirds of homes in the Tower, a 50-storey apartment complex in London, are in foreign ownership, with a quarter held through secretive offshore companies based in tax havens, a Guardian investigation has revealed.
The first residents of the landmark development arrived in October 2013, but many of the homes are barely occupied, with some residents saying they only use them for a fraction of the year. — The Guardian
The kind of wealth that turns a home into a status symbol—and an underused status symbol at that, with occupancy rates of only a few weeks a year—is not easing London's housing crisis. As the city's housing rates push actual citizens to decamp to cheaper suburbs or simply leave the area...
Rem Koolhaas said Zaha Hadid Architects could survive the death of its founder if it feeds on her architectural DNA. [...]
“I think there is a model these days where fashion houses survive by working on the DNA of their founders,” he said.
“It is a model that is becoming more and more current and it could work in architecture too, I think.” — building.co.uk
Related on Archinect:Impromptu Zaha Hadid retrospective planned for Venice BiennaleZHA after Zaha: Patrik Schumacher on Zaha and what's next for the firm, on Archinect Sessions #61Zaha Hadid Architects to continue under Patrik Schumacher's leadershipZaha Hadid Dies at Age 65
"Students are the advanced guard of creating that activity, that buzz. They help make it easier to persuade other businesses and investors there is something going on here.”
Not everyone is convinced. [...]
“Universities are now aping the private sector by building this top-end stuff, so a lot of students feel priced out. You can’t blame private companies, but universities have a got a different role. They should try to provide affordable options and not act like property developers.” — theguardian.com
Related on Archinect:Viennese student dorms may Passively House refugeesHomework and Jacuzzis as Dorms Move to McMansions in CaliforniaNew Philadelphians and the end of gentrification guiltThose hipster millennials might not be the true gentrifiers of U.S. neighborhoods
"Concerned about illicit money flowing into luxury real estate, the Treasury Department said Wednesday that it would begin identifying and tracking secret buyers of high-end properties."
"The initiative is part of a broader federal effort to increase the focus on money laundering in real estate." — The New York Times
No, these images aren't for an upcoming Lego kit design or a fantasy-genre video game, although they might as well be. They're Mark Foster Gage's concept for a 102-story ornamental skyscraper nicknamed "The Khaleesi", proposed for 41 West 57th Street in NYC's Billionaire's Row.Interestingly...
Pritzker Prize-winner Álvaro Siza has been selected to design an "ultra-luxury condominium" in Manhattan, his first U.S. project. Deemed 611 West 56th Street by developers Sumaida + Khurana and LENY, the structure will rise 35-storeys in New York's Hell's Kitchen, enough for approximately...
The Ponte saga is a classic South African story. Once a Jacuzzi-filled playground for the segregated white elite in the apartheid era, then falling into chaos in the 1990s as the wealthy fled to the suburbs, then the object of failed luxury-condo schemes, the tower is now undergoing a renaissance as an icon of Johannesburg’s urban revitalization. [...]
The hollow core began to fill with garbage and rubble – several stories high. — theglobeandmail.com
When it opens to guests in 2018, 'Blackadore Caye, a Restorative Island' will feature the trappings of many luxury resorts, with sprawling villas, infinity pools and stunning sunset views. But the 'Restorative' in the title refers not just to the impact the island might have on visitors, but to the island itself. Blackadore Caye has suffered from overfishing, an eroding coastline and the deforestation of its mangrove trees, and the partners mean to put it back to rights. — The New York Times
After co-purchasing the unpopulated Blackadore Caye off the coast of Belize for reportedly $1.75 million in 2005, actor Leonardo DiCaprio recently revealed plans with Delos chief executive Paul Scialla and lead architect Jason F. McLennan to build an eco-conscious resort dubbed "Blackadore Caye, a...
At the corner of Elizabeth and Kenmare Streets at the edge of NoLIta, demolition work began in early March to make way for a seven-story condominium, Mr. Ando’s first stand-alone project in the city, although he has designed a restaurant (Morimoto in Chelsea) and residential interiors in Manhattan.
Sales are expected to begin in April, with prices [...] likely to rise to more than $30 million for the four-bedroom penthouse, according to Mr. Steinberg. — nytimes.com
A cash shortage in Rome could see the city’s fascist-era Square Colosseum sold to the fashion house Fendi, despite calls in the Italian capital to keep the building in state hands.
More than 70 years after the Palazzo della Civiltà del Lavoro was built under the orders of Benito Mussolini it could soon be reinvented as a home for luxury goods. — theguardian.com
Two decades after civil war blew the Lebanese capital to rubble, the city centre boasts immaculately rebuilt streets lined with Gucci and Prada stores – but the whole place is strangely deserted
[...] the resulting place feels less souk than Duty Free airport lounge. It is a monotonous world of more swanky high street brands, from Burberry to Tag Heuer, staffed by idle shop assistants awaiting the promised customer footfall that has yet to arrive. — theguardian.com
The idea is always that a building like this in a particular light merges with the sky. The building is on a very small site, and has a very small footprint. There was a requirement from a planning point of view, which we fully supported and were actually happy about, that we had to provide a plaza on the ground floor. And that’s actually why the building toward the base, it pulls in its belly and it slopes so that the urban space is adequate and a required size. — nytimes.com
Renowned Brazilian architect Isay Weinfeld has been commissioned to design his first NYC-based building, a 36-unit luxury condominium project called Jardim. Set to be built on 527 West 27th Street in West Chelsea, Jardim will be surrounded by other recent starchitect-designed projects like the...
“For 10 or so of these important properties to come on the market at the same time, that matters a lot,” - Gregory J. Heym, an executive vice president and the chief economist for Halstead Property and Brown Harris Stevens — NYT
Earlier this month Robin Finn, looked at one trend in Manhattan's luxury/high-end real estate market. Given the less than 2,000 single-family homes in Manhattan, a recent influx of historic mansions and townhouses into the market, offers buyers a rare opportunity to avoid co-ops and condos.Some...
A new development, 42 Crosby Street, is pushing the limits of New York City real estate to new heights with 10 underground parking spots that will cost more per square foot than the apartments being sold upstairs.
At $250,000 a tire, the parking spaces in the underground garage cost more than four times the national median sales price for a home, which is $217,800, according to Zillow. — New York Times
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