After investing five years and $50 million in an attempt to bring an NFL team back to Los Angeles, AEG is abandoning plans for its Farmers Field football stadium downtown.
The sports and entertainment conglomerate is no longer in discussions with the NFL or any teams about the project, company officials said Monday. [...]
In recent weeks, competing stadium proposals in Inglewood and Carson, backed by NFL team owners, have overshadowed the AEG plan. — latimes.com
In the last 20 years, just one NFL stadium has been built solely through private funding. [...]
Still, when it comes to getting the best deal out of an arena, leaving taxpayer money off the tab is only a good start.
Studies have repeatedly shown that sports teams don’t have the far-reaching economic impacts that one might assume, and experts have noted that stadiums aren’t as catalytic as some franchise owners might tout. — nextcity.org
Although money is often seen as a taboo topic in art schools, a group of Yale alumni is urging professional architects to place more value on the relationship between money and architecture.
The Yale Architectural Journal’s latest edition, titled “Money,” discusses the controversial role of money in the field of architecture. [...] ranging from Frank Gehry to Yale School of Architecture Professor Keller Easterling, the issue urges architects to reconsider the financial side of their work. — yaledailynews.com
HOK celebrated its return to Kansas City Tuesday, revealing new signage at what has been the offices of 360 Architecture at 300 W. 22nd St.
The event marked completion of 360 Architecture’s acquisition by HOK, a global architecture, engineering and design company with 1,800 employees. The purchase, announced in August, made Kansas City HOK’s 24th office globally.
The practice is marketed as HOK Sports + Recreation + Entertainment. — kansascity.com
A New York architecture and interior-design firm with roots dating back more than a century has filed for Chapter 11 protection, citing its inability to collect more than $2 million from an assignment in Russia. [...]
Over the years, Swanke Hayden has worked on a number of well-known projects in New York and elsewhere, including the Trump Tower, a 1980s facelift of the Statue of Liberty, and the recent rehabilitation of Central Park restaurant Tavern on the Green. — blogs.wsj.com
Govs. Andrew Cuomo and Chris Christie have turned to a familiar idea in their pledge to reform the Port Authority of New York and New Jersey: selling its real estate.
A report released over the weekend highlights a plan to sell off many of the agency’s sprawling property holdings, by far the most notable of which is the World Trade Center site in lower Manhattan.
That concept has long been pushed within the agency, and it has been implemented gradually over the past decade and a half. — wsj.com
One of my more bizarre travel experiences involved a client in China, who was very excited about our work. [...]
By the time we landed, I’d completed the first pass at a design for a three-story villa to be built atop his high-rise. Good thing I did. When I landed, I was whisked directly to a dinner, where I had to present the ideas I’d developed on the plane. By that time I’d been up for nearly two days. [...]
I wanted to die, but we did get the business. — nytimes.com
“Seattle was a better opportunity for me than China right now,” Mr. Wang said. “A lot of Chinese families are planning to move here.” — NYT
“It’s not rare for us to go and try to make sure that no one buys the house of someone who’s facing foreclosure,” says Rob Call, an organizer for Occupy Our Homes Atlanta (OOHA). In Georgia, houses are publicly auctioned every first Tuesday of the month on each county courthouse’s steps. "[...] these auctions were mostly vacant. No one was really trying to go after these homes, but then they were [suddenly] swamped with people bidding up houses with quick access to sizable cashier’s checks.” — nextcity.org
As New York City’s burgeoning tech economy continues to grow, startups face the same challenges for office space they would anywhere else—but have the added challenge of Manhattan-level price tags, vying for space with law firms, banks, and other well-financed tenants.
An absolute lack of space is not the issue, however. New York’s low 10 percent office vacancy rate may be second only to Washington, D.C.’s 9.6 percent, but an enormous amount of inventory is going up [...]. — urbanland.uli.org
Eating food that’s grown locally and sustainably is a fantastic and increasingly popular idea, but it’s also expensive. Producers tend to drown under marketing and distribution costs, and struggle to find retail channels for their products. To assume that urban farms can escape that trap because of their extreme proximity to consumers would be a mistake; getting food to consumers has proven a logistical nightmare for them as well. — citiscope.org
Global architecture and engineering firm HOK will acquire Kansas City's 360 Architecture.
On Tuesday, the St. Louis-based firm announced that it will acquire the sports architecture-focused firm for an undisclosed price. The merger, expected to close by the end of October, will allow HOK to set up a new sports and entertainment practice staffed with experienced and established talent. — bizjournals.com
Many in the art world were staggered by recent reports that the Italian curator Germano Celant is being paid €750,000 to organise a pavilion for the Milan Expo 2015. Celant’s fee, and the incredulity it provoked, raises questions about how much curators are typically paid for organising biennials and large-scale international exhibitions.
The Art Newspaper surveyed around 40 international curators and biennial organisers [...]. — theartnewspaper.com
Construction spending posted modest gains in April, driven by an uptick in home building and government construction that lifted total activity to the highest level since March 2009.
Spending rose 0.2 percent in April to a seasonally adjusted annual rate of $953.5 billion [...]. — nytimes.com
The owners of the tallest tower at the World Trade Center are cutting office rents just months before it opens because of slow leasing activity.
Only one private tenant has signed a lease at One World Trade Center in nearly three years: a one-floor deal with advertising firm Kids Creative that was signed last week. The 3.1-million-square-foot skyscraper, formerly named the Freedom Tower, is 55% leased. — online.wsj.com
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