Archinect - News 2018-09-21T16:03:12-04:00 https://archinect.com/news/article/150086537/nyc-s-10-largest-property-owners-controlling-the-city-landscape NYC's 10 largest property owners controlling the city landscape Hope Daley 2018-09-17T14:53:00-04:00 >2018-09-17T14:53:09-04:00 <img src="https://archinect.imgix.net/uploads/2b/2b1735de5a5c9c007a0ed225740f5423.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>Earlier this month, The Real Deal put out a monster analysis looking at the biggest property owners across the city based on square footage, along with their annual net operating income. Their thorough analysis is definitely worth a read, but right here we&rsquo;re going to give you a breakdown of the top 10 biggest property owners in the city, and some of the projects you might recognize them for.</p></em><br /><br /><p>Curbed New York has put together a list of the top <a href="https://archinect.com/news/tag/2203/real-estate" rel="nofollow" target="_blank">real estate</a> players in <a href="https://archinect.com/news/tag/333/nyc" rel="nofollow" target="_blank">NYC</a> along with some of their notable projects in the city. Below are the top 10 property owners controlling NYC's built environment:</p> <p>1. The City of New York <br>2. Vornado Realty Trust <br>3. SL Green Realty <br>4. Tishman Speyer <br>5. Blackstone Group <br>6. Related Companies <br>7. <a href="https://archinect.com/columbiagsapp" rel="nofollow" target="_blank">Columbia University</a>&nbsp;<br>8. Brookfield Property Partners <br>9. RXR Realty <br>10. <a href="https://archinect.com/schools/cover/5652725/new-york-university-nyu" rel="nofollow" target="_blank">New York University</a></p> https://archinect.com/news/article/150085561/david-and-gladys-wright-house-back-on-the-market David and Gladys Wright House back on the market Alexander Walter 2018-09-11T14:17:00-04:00 >2018-09-11T14:18:55-04:00 <img src="https://archinect.imgix.net/uploads/11/117b074782a10655e265bbe7a97cb1d1.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>Phoenix, Arizona&ndash;based developer Zach Rawling bought a Frank Lloyd Wright&ndash;designed house for $2.3 million in 2012, when its previous owner wanted to demolish the landmark. In 2017, Rawlings donated the David and Gladys Wright House to the Taliesin West School of Architecture, but in June of this year, Rawlings and Aaron Betsky, the architecture school dean, announced in a joint statement&nbsp;that the donation was being revoked due to fundraising concerns.</p></em><br /><br /><figure><p><a href="https://archinect.imgix.net/uploads/ae/aef9a137fc300574280ef696f68b7b72.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.imgix.net/uploads/ae/aef9a137fc300574280ef696f68b7b72.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>Image via davidwrighthouse.org.</figcaption></figure><p>In their <a href="http://davidwrighthouse.org/joint-statement/" rel="nofollow" target="_blank">joint statement</a>, Aaron Betsky and Zach Rawling wrote:</p> <p><em>The relationship between the School and the House is formally manifested in the David Wright House Collaborative Fund, a supporting organization of the Arizona Community Foundation. The principal focus of the David Wright House Collaborative Fund was to develop a vehicle to raise the $7 million endowment on which the pledge of the House for the benefit of the School was conditioned. Over the past year, we have learned that the fundraising timetables of both parties do not lend themselves to a joint campaign. With the School in its fledgling years, the prevailing thought was that the divergent donor interests would effectively divide its support base rather than enhance it. Uncertainty regarding future capital improvements at the House and the long-term cultural development of the site in Phoenix increased this concern. For this reason, by mutual agreement and out of mutual respect, the Scho...</em></p> https://archinect.com/news/article/150078916/toronto-residents-use-political-art-to-push-for-gentrification-tax-to-keep-neighborhoods-affordable Toronto residents use political art to push for “Gentrification Tax” to keep neighborhoods affordable Justine Testado 2018-08-22T15:42:00-04:00 >2018-08-29T11:16:03-04:00 <img src="https://archinect.imgix.net/uploads/21/2108621d39b3f8b3e8b09f35e9c53500.JPG?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>The billboard suggested the rapid rise in home values between 2008 and 2017 necessitates a steep tax aimed at speculative flipping. The proposed tax would grab as much as 100 per cent of the profit from a home resale during the first year of ownership, then decline by increments of 10 per cent over 10 years. It would target non-resident and resident buyers alike, including primary residences [...] the goal is to keep Toronto&rsquo;s popular neighbourhoods affordable for all income levels.</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" "http://www.w3.org/TR/REC-html40/loose.dtd"> <html><head><meta></head></html> https://archinect.com/news/article/150078878/arakawa-and-madeline-gins-avant-garde-life-span-extending-villa-hits-the-market-at-2-5-million Arakawa and Madeline Gins' avant-garde, Life-Span Extending Villa hits the market at $2.5 million Mackenzie Goldberg 2018-08-22T14:13:00-04:00 >2018-08-23T08:17:39-04:00 <img src="https://archinect.imgix.net/uploads/11/11b9a7b10b78ca6c7982f7c94e9c128e.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><p>The Bioscleave House (Life-Span Extending Villa), designed by avant-garde artists <a href="https://archinect.com/firms/cover/2965/arakawa-gins-architectural-body-research-foundation" rel="nofollow" target="_blank">Madeline Gins and Arakawa</a>, has hit the market, the&nbsp;four bedroom, two and a half bath house asking for $2,495,000 via <a href="http://www.bhsusa.com/hamptons/east-hampton/house/106534" rel="nofollow" target="_blank">Brown Harris Stevens</a>.</p> <p>Building upon the couple's fifty year body of research into solving death&mdash;what they saw as the ultimate design flaw&mdash;the house comes with the unique promise of staving off mortality. Commissioned by the art collector Angela Gallman back in 2007, it has been designed to empower its inhabitants to resist their own deaths and reverse the downhill course of human life.</p> <figure><p><a href="https://archinect.imgix.net/uploads/0c/0cf0aaeb7d584856c97050b6f26de682.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.imgix.net/uploads/0c/0cf0aaeb7d584856c97050b6f26de682.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>Image via Madeline Gins and Arakawa.</figcaption></figure><p>The East Hampton home&nbsp;features walls of more than three dozen different colors and an undulating, dunelike floor that challenges the body in unexpected ways. Windows are placed at varying heights, there is an open flow of traffic, and the kitchen is sunken at the center of the house&mdash;all designed to&nbsp;rejuvenate whoever moves in.&nbsp;<br></p> <p>The house, which cost slightly less than it...</p> https://archinect.com/news/article/150077537/laguna-beach-homeowners-hit-with-1-million-fine-over-illegal-seawall Laguna Beach homeowners hit with $1-million fine over illegal seawall Mackenzie Goldberg 2018-08-13T14:23:00-04:00 >2018-08-13T14:23:03-04:00 <img src="https://archinect.imgix.net/uploads/88/880e2ec29169578ae10aa8d48ec4d28c.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>Environmentalists are celebrating a precedent-setting vote Thursday by the California Coastal Commission to tear down a seawall protecting an oceanfront home in Laguna Beach. After the previous owner received retroactive approval for the previously unpermitted seawall, Jeffrey and Tracy Katz bought the home on Victoria Beach. They performed an extensive remodel, which was completed in January and increased the value of the home from $14 million to $25 million.</p></em><br /><br /><p>Under the 1977 Coastal Act, beachfront properties are required to have substantial setbacks in order not to interfere with the natural flow of sand along the coast. Built in 1951, prior to the Act, the property in question was allowed to put up a seawall in 2005 under the condition it be removed if there was new development on the site.<br></p> <p>Stating that the work done qualifies as repair and maintenance, the Katzes and their lawyer argued that the renovation, which had received city approval, did not require a commission permit. In the end, however, the commission was unanimous in their decision to punish the couple.&nbsp;</p> https://archinect.com/news/article/150076949/the-housing-crisis-isn-t-sparing-smaller-cities-in-middle-america The housing crisis isn't sparing smaller cities in Middle America Alexander Walter 2018-08-08T18:31:00-04:00 >2018-08-08T18:31:50-04:00 <img src="https://archinect.imgix.net/uploads/e8/e8829509fb2bbac28675a1f73e291dc5.png?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>Ten years after the housing collapse during the Great Recession, a new and different housing crisis has emerged. Back then, people were losing their homes as home values crashed and homeowners went underwater. Today, home values have rebounded, but people who want to buy a new home are often priced out of the market. There are too few homes and too many potential buyers.</p></em><br /><br /><p><em>NPR</em> takes a closer look at the impact of the <a href="https://archinect.com/news/tag/322270/housing-crisis" rel="nofollow" target="_blank">housing affordability crisis</a> in midsized, fast-growing cities, like&nbsp;Des Moines, IA, Durham, NC, and Boise, ID&mdash;far away from the usual, well documented housing hot spots of the big coastal cities.</p> https://archinect.com/news/article/150076686/brady-bunch-house-sold-to-hgtv-for-undisclosed-amount Brady Bunch house sold to HGTV for undisclosed amount Alexander Walter 2018-08-07T16:15:00-04:00 >2018-08-19T16:35:40-04:00 <img src="https://archinect.imgix.net/uploads/2b/2b91c536fcd93f6a1306a4c4b91012ac.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>Discovery Inc.'s HGTV network has won the bidding for the California house that served as the exterior for the home of the family in&nbsp;The&nbsp;Brady Bunch, Discovery CEO David Zaslav said Tuesday. "I am excited to share that HGTV is the winning bidder and will restore the Brady Bunch home to its 1970s glory as only HGTV can," he said on the company's second-quarter earnings conference call [...].</p></em><br /><br /><p>The midcentury house in Studio City,&nbsp;CA served as the make-believe exterior&nbsp;of the Brady TV family's home from 1969 to 1974. It was <a href="https://archinect.com/news/article/150074517/the-brady-bunch-home-could-be-yours-for-1-885m" rel="nofollow" target="_blank">listed for $1.885M last month</a>, and for a brief moment it appeared that 'N Sync star Lance Bass had placed the winning bid&mdash;only to wake up to the news that <a href="https://archinect.com/news/tag/829497/hgtv" rel="nofollow" target="_blank">HGTV</a>&nbsp;had in fact become the new owner with the declared intent to get the house "at any cost" and "outperform any bid" (<a href="https://twitter.com/LanceBass/status/1025971593397166081" rel="nofollow" target="_blank">according to Bass</a>).</p> https://archinect.com/news/article/150075578/new-report-assesses-worrying-impact-of-vacant-properties-in-u-s-cities-and-what-local-communities-can-do-about-it New report assesses worrying impact of vacant properties in U.S. cities, and what local communities can do about it Justine Testado 2018-07-30T15:50:00-04:00 >2018-07-31T09:47:13-04:00 <img src="https://archinect.imgix.net/uploads/b1/b1c9bf7fd0d5ec293639f667ca1412b5.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>Neighborhoods with high vacancy rates rarely recover, according to the study. Vacancy is &ldquo;first and foremost a symptom of other problems &mdash; concentrated poverty, economic decline, and market failure,&rdquo; the study notes. That means the solutions must go beyond just tearing abandoned buildings down. The study urges local governments to use tools like &ldquo;spot blight&rdquo; eminent domain, vacant property receivership, and land-banking to speed up the transition from owner to owner.</p></em><br /><br /><p>CityLab editor-at-large Richard Florida summarizes a <a href="https://www.lincolninst.edu/publications/policy-focus-reports/empty-house-next-door" rel="nofollow" target="_blank">new report</a> by&nbsp;Alan Mallach of the Center for Community Progress about the increase of vacant properties and hypervacancy in cities across the U.S. in recent decades &mdash; another worrying aspect of the American housing crisis. The report assesses how vacant properties are affecting certain cities, and it also outlines mitigation strategies for local governments and community groups.</p> https://archinect.com/news/article/150074517/the-brady-bunch-home-could-be-yours-for-1-885m The Brady Bunch home could be yours for $1.885M Alexander Walter 2018-07-23T13:39:00-04:00 >2018-07-23T13:39:50-04:00 <img src="https://archinect.imgix.net/uploads/b4/b485374508f2f463c091f9ca7584a658.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>Now on the market for the first time since 1973 is the Studio City residence known the world over as the Brady Bunch house. Built in 1959, the property was discovered by location scouts a decade later and appeared in every episode of the hit TV show except the first. [...] Sited on a .29-acre lot that abuts the LA River, the cultural icon is listed with an asking price of $1.885 million. Due to the intense interest expected, no open houses will be scheduled.</p></em><br /><br /><p><em>Curbed LA</em> quotes the show's creator, Sherwood Schwartz, explaining in an 1994 interview why this particular house was chosen for the Brady Bunch exterior shots from 1969 to 1974: "We didn&rsquo;t want it to be too affluent, we didn&rsquo;t want it to be too blue-collar. We wanted it to look like it would fit a place an architect would live."</p> <p>Interested? Dig into the listing <a href="https://www.carswellandpartners.com/listings/11222-dilling-street/" rel="nofollow" target="_blank">here</a>.</p> https://archinect.com/news/article/150072175/despite-being-in-high-risk-flood-zones-waterfront-housing-developments-are-on-the-rise-in-nyc Despite being in high-risk flood zones, waterfront housing developments are on the rise in NYC Justine Testado 2018-07-06T17:31:00-04:00 >2018-07-08T13:24:14-04:00 <img src="https://archinect.imgix.net/uploads/8f/8f1c3971f0236c08186b2c9b803b6df8.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>Whether these new apartment buildings can endure another major storm does not seem to be a concern for most residents, who are glad to have new options in inventory-starved markets. Critics, though, ask whether the neighborhoods can withstand the surge of new development and the stress it will add to an already strained infrastructure. These new buildings might remain unscathed in a flood, they say, but what about the damage caused by the torrent around them?</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" "http://www.w3.org/TR/REC-html40/loose.dtd"> <html><head><meta></head></html> https://archinect.com/news/article/150071713/california-cities-have-nation-s-highest-density-of-homes-worth-over-1m California cities have nation's highest density of homes worth over $1M Alexander Walter 2018-07-03T14:19:00-04:00 >2018-07-03T14:23:29-04:00 <img src="https://archinect.imgix.net/uploads/23/234bb2b4dc3ccbab75b6990c5ca6bf63.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>Perhaps it&rsquo;s not a surprise in a city where residential prices can reach into the stratosphere, but in Los Angeles, more than 17 percent of all homes are valued at over $1 million. What may be more shocking is that L.A. doesn&rsquo;t have the highest share of million-dollar homes. [...] San Jose and San Francisco were No. 1 and No. 2, respectively. In San Jose, homes valued over $1 million made up 53 percent of the market. San Francisco&rsquo;s million-dollar-share was at 40 percent.</p></em><br /><br /><p>Other major cities ranked in the new LendingTree survey are New York (4th place with 12 percent market share), Miami (9th, 4 percent), and Chicago (18th, 1.3 percent).</p> https://archinect.com/news/article/150070932/frank-lloyd-wright-s-mayan-revival-style-ennis-house-on-sale-for-23-million Frank Lloyd Wright's Mayan Revival-style Ennis House on sale for $23 million Justine Testado 2018-06-27T15:31:00-04:00 >2018-06-27T15:31:26-04:00 <img src="https://archinect.imgix.net/uploads/ae/aea719b7d0b54028bc7d83a7084bb144.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>Located in Los Feliz, the 5,500-square-foot house was built from 27,000 concrete blocks, with some blocks featuring intricate geometric patterns. [...] Ron Burkle purchased the home from the nonprofit Ennis House Foundation for $4.5 million in 2011, property records show. After purchasing, he then restored it, adding an extra $10 million to improve the home after it had suffered major damage from a previous earthquake and heavy rains.</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" "http://www.w3.org/TR/REC-html40/loose.dtd"> <html><head><meta></head></html> https://archinect.com/news/article/150070776/video-jean-nouvel-on-making-53w53-a-new-york-city-building Video: Jean Nouvel on making 53W53 a 'New York City building' Alexander Walter 2018-06-26T19:17:00-04:00 >2018-06-26T22:59:54-04:00 <img src="https://archinect.imgix.net/uploads/20/2065a4bda9033822ce0cffc965317078.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>The architect behind 53 West 53rd wanted the tower to be synonymous with New York City, to be a building that couldn&rsquo;t easily be slipped into another skyline. &ldquo;A worldwide catastrophe today is the number of buildings that are parachuted because they were preconceived. Offices, housing, shopping malls all look the same,&rdquo; Jean Nouvel told The Real Deal, translated from French.</p></em><br /><br /><p>Mini video interview with <a href="https://archinect.com/news/tag/562793/53w53" rel="nofollow" target="_blank">53W53</a> 'MoMA Tower' architect <a href="https://archinect.com/firms/cover/990/ateliers-jean-nouvel" rel="nofollow" target="_blank">Jean Nouvel</a>, produced by <em>The Real&nbsp;Deal</em>.&nbsp;</p> <p>53W53: Jean Nouvel's "New York" Building. Video via The Real Deal on YouTube.</p><p>The 1,050-foot luxury tower topped out a few days ago and ranks now&mdash;along with <a href="https://archinect.com/firms/cover/341/renzo-piano-building-workshop" rel="nofollow" target="_blank">Renzo Piano</a>/<a href="https://archinect.com/fxcollaborative" rel="nofollow" target="_blank">FXFOWLE</a>'s New York Times Building and the iconic 1930 Chrysler Building&mdash;as NYC&rsquo;s sixth tallest building.</p> https://archinect.com/news/article/150070326/would-you-pay-760-000-for-parking-world-s-most-expensive-spot-sells-for-just-that Would you pay $760,000 for parking? World's most expensive spot sells for just that! Mackenzie Goldberg 2018-06-22T14:33:00-04:00 >2018-06-25T11:26:12-04:00 <img src="https://archinect.imgix.net/uploads/3d/3ddb00ec0feb2ed25b6804cfbc16c7d1.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><p>Hong Kong is the <a href="https://archinect.com/news/article/150042157/hong-kong-london-los-angeles-dominate-list-of-most-expensive-homes-sold-in-2017" rel="nofollow" target="_blank">world's most expensive real estate market</a>, which helps explain why the world's most expensive parking spot just sold there for the equivalent of $760,000 USD. And no, despite the enormous price tag, the parking spot doesn't come with an apartment included, or anything particularly special for that matter.&nbsp;</p> <p>The single parking space originally was bought for $430,000 USD in September 2017 and was handsomely resold for almost double that earlier this month. The&nbsp;lot is located on the first floor of a luxury residential development&nbsp;in the Kowloon district of Hong Kong, where apartments cost millions and millions.&nbsp;With only 370 spaces, in a complex of 527 units, this has led to a bidding war amongst its ultra-wealthy residents.&nbsp;</p> <p>"The development is in a luxury residential area. The residents have a lot of cash and simply do not care about a few million dollars when a flat there costs about $12.7 million (HK$100 million)," Sandia Lau, a director at Centaline Property Agenc...</p> https://archinect.com/news/article/150065977/shared-housing-startups-prepare-for-big-business Shared housing startups prepare for big business Alexander Walter 2018-05-23T15:54:00-04:00 >2018-05-26T13:31:04-04:00 <img src="https://archinect.imgix.net/uploads/g1/g1026k28lvimdl5t.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>A Crunchbase News analysis of residential-focused real estate startups uncovered a raft of companies with a shared and temporary housing focus that have raised funding in the past year or so. This isn&rsquo;t a U.S.-specific phenomenon. Funded shared and short-term housing startups are cropping up across the globe, from China to Europe to Southeast Asia.</p></em><br /><br /><p>Crunchbase reporter Joanna Glasner takes a look at the new crop of <a href="https://archinect.com/news/tag/663647/co-living" rel="nofollow" target="_blank">shared and short-term housing</a> startups that have recently raised millions of dollars in funding, such as Common, Starcity, Roomi, Ollie, HubHaus, and others.<br></p> https://archinect.com/news/article/150062812/who-owns-real-estate-flooded-from-climate-change Who owns real estate flooded from climate change? Hope Daley 2018-05-03T16:54:00-04:00 >2018-05-07T11:48:05-04:00 <img src="https://archinect.imgix.net/uploads/nc/nc3hin17cl05uc1r.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>As seas rise and coasts wash away, who owns the land that goes underwater? Versions of that debate are taking place in courtrooms, legislatures, and government offices, raising the question of whether and when climate change justifies seizing private property. The stakes are enormous, affecting not just ownership of offshore mineral and fishing rights but also potentially trillions of dollars of coastal real estate.</p></em><br /><br /><p><a href="https://archinect.com/news/tag/167905/climate-change" rel="nofollow" target="_blank">Climate change</a> has left many rules governing <a href="https://archinect.com/news/tag/2203/real-estate" rel="nofollow" target="_blank">real estate</a> ownership murky. As sea levels rise this especially affects coastal property and laws hinging on high-tide lines.&nbsp;</p> https://archinect.com/news/article/150060213/grenfell-style-cladding-causes-value-of-upscale-london-apartments-to-drop-by-90 Grenfell-style cladding causes value of upscale London apartments to drop by 90% Alexander Walter 2018-04-16T16:21:00-04:00 >2018-04-16T16:21:50-04:00 <img src="https://archinect.imgix.net/uploads/aw/awpmz2okc1l0i507.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>A homeowner in a housing complex in London with Grenfell-type cladding has been told the value of her &pound;475,000 home has collapsed and is now just &pound;50,000. Galliard Homes, the developer of the 11-block complex in New Capital Quay in south-east London, is facing a &pound;30m-&pound;40m bill to replace the cladding and is locked in a legal dispute over who should pay.</p></em><br /><br /><p>The New Capital Quay development&mdash;home to about 2,000 residents&mdash;is believed to be the largest private development to have flammable cladding after the <a href="https://archinect.com/news/tag/959731/grenfell-tower-fire" rel="nofollow" target="_blank">2017 Grenfell fire tragedy</a> that killed 71 people, <em>The Guardian </em>reports. The apartments are now considered unsellable.<br></p> https://archinect.com/news/article/150058625/construction-of-david-adjaye-s-nyc-skyscraper-kicks-into-next-gear Construction of David Adjaye's NYC skyscraper kicks into next gear Alexander Walter 2018-04-05T13:54:00-04:00 >2018-04-05T14:00:08-04:00 <img src="https://archinect.imgix.net/uploads/4h/4h6hiyoe2my6mwuy.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>Last December, plans were unfurled for 130 William, a reverential new skyscraper to jostle amongst the spired giants of lower Manhattan. [...] we can note that the project has achieved two small construction milestones in its journey against the sky: crews have reached street level and standing upright is a red kangaroo crane that will bring the rectangular tower to its full 66-floor, nearly 800-foot-tall summit.</p></em><br /><br /><figure><p><a href="https://archinect.imgix.net/uploads/l5/l5zno0xzneuvppbk.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.imgix.net/uploads/l5/l5zno0xzneuvppbk.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>Rendering courtesy of Lightstone.</figcaption></figure><p><a href="https://archinect.com/news/article/150041508/david-adjaye-s-800-foot-hand-cast-concrete-condo-tower-in-ny-s-financial-district-revealed" rel="nofollow" target="_blank">Fully revealed</a> only a few weeks ago, the Lightstone-developed, <a href="https://archinect.com/adjayeassociates" rel="nofollow" target="_blank">Adjaye Associates</a>-designed 800-foot luxury condo tower is already making construction progress with its crane fully installed and prepared to stack 66 floors wrapped in a hand-cast concrete facade with bronze detailing towards the Manhattan sky.</p> https://archinect.com/news/article/150056099/detroit-s-abandoned-michigan-central-station-may-soon-be-bought-and-redeveloped-by-ford Detroit's abandoned Michigan Central Station may soon be bought and redeveloped by Ford Alexander Walter 2018-03-23T15:19:00-04:00 >2018-03-26T01:31:03-04:00 <img src="https://archinect.imgix.net/uploads/on/on8ych3xwxt3oz4a.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>Ford Motor Co. is in discussions to purchase the dilapidated Michigan Central Station in Detroit's Corktown neighborhood just outside of downtown, Crain's has learned from multiple sources familiar with the negotiations.</p></em><br /><br /><p>"A redevelopment of the <a href="https://archinect.com/news/tag/981998/michigan-central-station" rel="nofollow" target="_blank">depot</a>, which has been abandoned and blighted for three decades since Amtrak stopped service in 1988, would be one of the most expensive and complex local undertakings in recent history," <em>Crain's</em> reports.</p> https://archinect.com/news/article/150055939/japan-s-disposable-housing-culture Japan's disposable housing culture Alexander Walter 2018-03-22T13:48:00-04:00 >2018-03-22T15:33:40-04:00 <img src="https://archinect.imgix.net/uploads/7f/7fdwu08n5arfq3n1.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>[...] the value of the average Japanese house depreciates to zero in 22 years. (It is calculated separately from the land, which is more likely to hold its value.) Most are knocked down and rebuilt. Sales of new homes far outstrip those of used ones, which usually change hands in the expectation that they will be demolished and replaced. In America and Europe second-hand houses accounted for 90% of sales and new-builds for 10% in 2017. In Japan the proportions are the other way around.</p></em><br /><br /><p>The <a href="https://www.economist.com/news/finance-and-economics/21738888-value-average-house-depreciates-zero-just-22-years-why-japanese" rel="nofollow" target="_blank"><em>Economist</em> article</a> describes Japan&rsquo;s <a href="https://archinect.com/news/tag/436792/disposable-architecture" rel="nofollow" target="_blank">throwaway housing culture</a> as a phenomenon that is not only a burden on the national economy and the environment but also does not see renovation and refurbishment of existing structures as an appreciation in value.</p> <p>There are exceptions of course: one rare example of an upgraded old structure is <a href="https://archinect.com/news/article/150052687/blending-japanese-traditional-and-modern-architecture-this-kyoto-guest-house-is-a-quiet-stunner" rel="nofollow" target="_blank">this Kyoto guest house</a> makeover by <a href="https://archinect.com/firms/cover/150052734/b-l-u-e-architecture-studio" rel="nofollow" target="_blank">B.L.U.E. Architecture Studio</a>, published on Archinect earlier this month.<br></p> https://archinect.com/news/article/150055788/bitcoin-s-opportunities-and-challenges-in-real-estate Bitcoin's opportunities and challenges in real estate Alexander Walter 2018-03-21T18:31:00-04:00 >2018-03-26T01:31:03-04:00 <img src="https://archinect.imgix.net/uploads/ga/ga3opnlct365hyqk.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>Today, listings from one coast to another tout Bitcoin as a way to make a property transaction. A new collection of haute residences in Hollywood with Los Angeles skyline views go for $1.21 million or its Bitcoin equivalent; in Washington, D.C., two-bedroom condos are on the market for between 36 and 84 Bitcoins. In Austin, the seller of one ranch is offering a &ldquo;signficant discount&rdquo; if the buyer pays with Bitcoin.</p></em><br /><br /><p>Great longform <a href="https://www.curbed.com/2018/3/21/17143564/bitcoin-buy-property-real-estate-cryptocurrency-blockchain" rel="nofollow" target="_blank">piece</a> by Andrew Zaleski for <em>Curbed</em> on how <a href="https://archinect.com/news/tag/735338/bitcoin" rel="nofollow" target="_blank">Bitcoin</a>, <a href="https://archinect.com/news/tag/735337/blockchain" rel="nofollow" target="_blank">blockchain</a> technology, and&nbsp;other&nbsp;<a href="https://archinect.com/news/tag/762476/cryptocurrencies" rel="nofollow" target="_blank">cryptocurrencies</a>&nbsp;have changed&mdash;or not changed&mdash;the real estate industry. "While there are laws in Arizona and Vermont that allow blockchain technology to play key parts in property sales and proving property ownership, in most states, aspects of the process still involve traditional financial institutions&mdash;and Bitcoin as a currency isn&rsquo;t necessarily a safe enough bet for the relatively risk-averse world of real estate."</p> https://archinect.com/news/article/150054711/finalists-named-for-portland-s-broadway-corridor-site Finalists named for Portland's Broadway Corridor site Hope Daley 2018-03-15T18:22:00-04:00 >2018-03-15T18:22:32-04:00 <img src="https://archinect.imgix.net/uploads/3k/3kzwmeufw7dlauqf.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>Portland's urban renewal agency has named three finalists to shape the redevelopment of the soon-to-be-vacated&nbsp;downtown post office blocks. Not among them:&nbsp;a headline-grabbing but unlikely proposal for two massive skyscrapers, the taller of which would be nearly twice the height of any existing building in Portland.</p></em><br /><br /><p>Prosper Portland has selected 3 finalists for the 14 acre post office site located in the heart of the city: McWhinney,&nbsp;Related Cos., and&nbsp;Continuum Partners. It comes as no surprise that <a href="https://archinect.com/news/article/150050202/william-kaven-unveil-full-proposal-for-portland-s-broadway-corridor#CommentsAnchor" rel="nofollow" target="_blank">William Kaven's two tower proposal</a> was not selected.&nbsp;</p> <figure><p><a href="https://archinect.imgix.net/uploads/rj/rjqp8ptk0xpsii56.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.imgix.net/uploads/rj/rjqp8ptk0xpsii56.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>Broadway Corridor total development site of 32 acres in Portland. Image: Prosper Portland.</figcaption></figure><p>The <a href="https://archinect.com/news/tag/21769/redevelopment" rel="nofollow" target="_blank">redevelopment</a> effort will include approximately 500 units of public housing developed by the Portland Housing Bureau and about 2,000 units of privately developed housing&mdash;of which 10 percent&nbsp;will include rent restrictions for low-income households.<br></p> <p>The Colorado developer McWhinney has proposed a partnership with the James Beard Public Market, a food culture concept which would include 100 to 120 vendor stalls as well as full service restaurants. The New York developer Related Cos. has partnered with local real estate firm Melvin Mark Cos. and the homelessness nonprofit Central City Concern.</p> https://archinect.com/news/article/150054306/here-s-your-chance-to-own-an-apartment-in-le-corbusier-s-cit-radieuse Here's your chance to own an apartment in Le Corbusier’s Cité Radieuse Alexander Walter 2018-03-13T13:50:00-04:00 >2018-03-13T14:01:27-04:00 <img src="https://archinect.imgix.net/uploads/yh/yh0wz6ux7pr766sc.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>A duplex apartment in Le Corbusier&rsquo;s Modernist icon La Cit&eacute; Radieuse has hit the market for &euro;598,000. [...] This 140 sq m apartment sits on a high floor of the colourful Modernist landmark, built from b&eacute;ton-brut concrete and declared a UNESCO World Heritage Site in 2016. The Marseille property is on the market via 20th and 21st century architecture specialists Architecture de Collection.</p></em><br /><br /><figure><p><a href="https://archinect.imgix.net/uploads/ap/apgi5oosjhmdum32.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.imgix.net/uploads/ap/apgi5oosjhmdum32.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>Photo &copy; Architecture de Collection</figcaption></figure><p>Be it the&nbsp;b&eacute;ton brut appeal or the prospect of owning an&nbsp;<em>appartement</em> in the South of France, now's your moment to get both: a 1,500-square-foot unit on a higher floor in Le Corbusier's iconic Unit&eacute; d&rsquo;Habitation housing block in Marseille just <a href="http://www.architecturedecollection.fr/bien/duplex-moderne-familial-dans-la-cite-radieuse/" rel="nofollow" target="_blank">hit the market</a>, and it's pretty sweet. The asking price is&nbsp;&euro;598,000 ($741,000).</p> <figure><p><a href="https://archinect.imgix.net/uploads/1u/1ur31611bi4x6v5l.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.imgix.net/uploads/1u/1ur31611bi4x6v5l.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>Photo &copy; Architecture de Collection</figcaption></figure><p>More interested in Corb's pre-Modernism oeuvre? Check out our <em><a href="https://archinect.com/features/article/150044197/from-the-ground-up-le-corbusier" rel="nofollow" target="_blank">From the Ground Up</a></em> episode about his very first completed architectural design: Villa Fallet, completed in 1906-1907 in&nbsp;La Chaux-de-Fonds, Switzerland.</p> https://archinect.com/news/article/150054035/aux-architecture-redesigns-the-hollyridge-home-once-owned-by-red-hot-chili-peppers-singer-anthony-kiedis AUX Architecture redesigns the Hollyridge Home, once owned by Red Hot Chili Peppers singer Anthony Kiedis Justine Testado 2018-03-12T14:45:00-04:00 >2018-03-13T13:42:57-04:00 <img src="https://archinect.imgix.net/uploads/23/23l6hcmyjd2n1qcb.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><p>Overlooking the Hollywood Hills of Los Angeles, the Hollyridge Home&nbsp; completed a well-deserved makeover this past January by L.A.-based <a href="https://archinect.com/auxoffice" rel="nofollow" target="_blank">AUX Architecture</a>. Originally built in 1989 and previously owned by Red Hot Chili Peppers lead singer Anthony Kiedis from 1990-1997, the 2,849 square-foot home is currently on sale for about $3.29 million through the John Galich Group real estate firm.</p> <figure><p><a href="https://archinect.imgix.net/uploads/zs/zshw7s86dtk0exus.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.imgix.net/uploads/zs/zshw7s86dtk0exus.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>Before the renovation. Photo courtesy AUX Architecture.</figcaption></figure><figure><p><a href="https://archinect.imgix.net/uploads/66/66063b0thmhr0xi8.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.imgix.net/uploads/66/66063b0thmhr0xi8.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>After the renovation. Photo courtesy John Galich Group.</figcaption></figure><figure><p><a href="https://archinect.imgix.net/uploads/s0/s0slplh1c8hwalan.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.imgix.net/uploads/s0/s0slplh1c8hwalan.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>Before. Photo courtesy AUX Architecture.</figcaption></figure><p>Without structurally changing its roofline, AUX Architecture transformed the Hollyridge Home into a modern, light-filled space that takes full advantage of its views of the nearby Hollywood sign.<br></p> <figure><p><a href="https://archinect.imgix.net/uploads/3j/3jjwr1zu92iohzcf.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.imgix.net/uploads/3j/3jjwr1zu92iohzcf.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>After. Photo courtesy AUX Architecture + John Galich Group.</figcaption></figure><figure><p><a href="https://archinect.imgix.net/uploads/x2/x2d9irebvafd3e2j.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.imgix.net/uploads/x2/x2d9irebvafd3e2j.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>Before. Photo courtesy AUX Architecture.</figcaption></figure><figure><a href="https://archinect.imgix.net/uploads/of/ofyh5q7osccnhj1v.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.imgix.net/uploads/of/ofyh5q7osccnhj1v.jpg?auto=compress%2Cformat&amp;w=514"></a><br></figure><figure><figcaption>After. Photo courtesy John Galich Group.</figcaption></figure><figure><p><a href="https://archinect.imgix.net/uploads/7b/7bn1ae4mlb52xdi3.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.imgix.net/uploads/7b/7bn1ae4mlb52xdi3.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>Before. Photo courtesy AUX Architecture.</figcaption></figure><p>In renovating the home, AUX Architecture emphasized indoor-outdoor living, giving th...</p> https://archinect.com/news/article/150052985/the-half-billion-dollar-bel-air-giga-mansion-is-still-looking-for-a-buyer The half-billion-dollar Bel Air giga-mansion is still looking for a buyer Alexander Walter 2018-03-05T14:14:00-05:00 >2018-03-05T20:19:24-05:00 <img src="https://archinect.imgix.net/uploads/qc/qc4daph67hikvhbe.png?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>The construction of this and other so-called giga-mansions underscores a new gilded age in the United States and especially in LA. [...] The splurge comes amid a housing shortage that has fuelled a homelessness crisis, with 57,000 people without permanent shelter in LA county [...]. The Los Angeles Times columnist Steve Lopez compared the city&rsquo;s hilltop mansions to giant tombstones marking the death of humility.</p></em><br /><br /><p><em>The Guardian</em> takes a peek into the world of ultra-luxury real estate developer Niles Niami whose latest endeavor&mdash;the sprawling Bel Air hilltop giga-mansion with its four swimming pools, 20 bedrooms, movie theater, and nightly club aptly called The One&mdash;<a href="https://archinect.com/news/tag/461996/megamansion" rel="nofollow" target="_blank">frequently makes the news</a> for being America's priciest home. Clocking in at $500m, the property is still waiting for a billionaire buyer.</p> https://archinect.com/news/article/150052210/new-interior-renderings-revealed-of-aston-martin-s-luxury-apartment-tower-in-miami New interior renderings revealed of Aston Martin's luxury apartment tower in Miami Alexander Walter 2018-02-28T14:07:00-05:00 >2018-02-28T14:09:41-05:00 <img src="https://archinect.imgix.net/uploads/2x/2xvv2d6pprkkjzf1.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>After breaking ground on its first-ever real estate project last fall (the aptly named Aston Martin Residences in downtown Miami), British automaker Aston Martin has unveiled never-before-seen renderings of the building&rsquo;s amenity spaces.</p></em><br /><br /><p>Aston Martin's first venture into branded luxury real estate <a href="https://archinect.com/news/article/150034701/aston-martin-breaks-ground-on-their-first-luxury-apartment-tower-in-miami" rel="nofollow" target="_blank">broke ground</a> in Downtown Miami last fall and is expected to welcome its deep-pocketed residents in 2021.&nbsp;Until then, check out these new renderings of some of the amenities at the <a href="https://archinect.com/news/tag/1102387/aston-martin-residences" rel="nofollow" target="_blank">Aston Martin Residences</a> tower.</p> <figure><p><a href="https://archinect.imgix.net/uploads/l8/l8ugrci8vudfdna8.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.imgix.net/uploads/l8/l8ugrci8vudfdna8.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>Aston Martin Residences/G&amp;G Business Developments</figcaption></figure><figure><p><a href="https://archinect.imgix.net/uploads/9i/9ilx88oxugubglfh.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.imgix.net/uploads/9i/9ilx88oxugubglfh.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>Aston Martin Residences/G&amp;G Business Developments</figcaption></figure><figure><p><a href="https://archinect.imgix.net/uploads/8v/8v7nx5jxfarp0h1q.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.imgix.net/uploads/8v/8v7nx5jxfarp0h1q.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>Aston Martin Residences/G&amp;G Business Developments</figcaption></figure><p>"The newly released renderings reveal common areas with floor-to-ceiling walls of glass that overlook the water, floating staircases that connect the floors, and whimsical light fixtures," explains the marketing material. "In the gym, walls of glass look out to the water so residents can exercise while enjoying a stunning view; in the lobbies, neutral-hued furniture creates an inviting environment."<br></p> https://archinect.com/news/article/150050389/driverless-technology-is-about-to-reshape-the-real-estate-industry Driverless technology is about to reshape the real estate industry Alexander Walter 2018-02-16T18:06:00-05:00 >2018-02-20T18:01:03-05:00 <img src="https://archinect.imgix.net/uploads/57/57on24f0iyw193cm.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>The link between property and transport has been perhaps the most durable in human history. Since the ancients, few things have delivered higher land values with more certainty than advances in transport, from roads to canals, railways to highways. [...] But now, the dawn of the driverless car&mdash;promising a utopia of stress-free commutes, urban playgrounds and the end of parking hassles&mdash;threatens to complicate the calculus for anyone buying property.</p></em><br /><br /><p><em>Bloomberg Technology</em> explains how the real estate industry is already preparing for all that sweet, sweet valuable space to open up for development once the widespread arrival of driverless vehicles makes parked cars &mdash; and the blocked square footage they occupy &mdash; a thing of the past.&nbsp;</p> https://archinect.com/news/article/150047009/lella-and-massimo-vignelli-s-legendary-new-york-home-to-list-for-6-5-million Lella and Massimo Vignelli's legendary New York home to list for $6.5 million Justine Testado 2018-01-26T14:10:00-05:00 >2018-01-26T14:11:05-05:00 <img src="https://archinect.imgix.net/uploads/wu/wu6re9fw1dz1qygr.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>Other than the conversion of the dining room into a library and a den into office space in 2000, the apartment has remained largely unchanged since the 1970s. &ldquo;Some people might see this as dated,&rdquo; [Luca] Vignelli said. But much of the apartment feels timeless, as his parents intended, he added: &ldquo;I would love to see somebody who appreciates the space and their presence in the space&rdquo; as a buyer.</p></em><br /><br /><p>The design legacy of the late Lella and <a href="https://archinect.com/news/article/100517642/massimo-vignelli-acclaimed-modernist-architect-and-graphic-designer-dies-at-83" rel="nofollow" target="_blank">Massimo Vignelli</a> lives on in their New York home, which will be listed for $6.5 million.&nbsp;The home hasn't changed much since the couple bought it in 1978. Their children Luca and Valentina Vignelli, who are selling the duplex because they both live elsewhere, are hoping they can find the right buyer.&nbsp;</p> https://archinect.com/news/article/150044994/virtual-reality-s-emergence-in-real-estate-finally-penthouse-shopping-made-easy Virtual reality's emergence in real estate. Finally, Penthouse shopping made easy! Anthony Morey 2018-01-15T15:07:00-05:00 >2018-01-15T15:18:43-05:00 <img src="https://archinect.imgix.net/uploads/n5/n59f9mns6xasg6yu.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>Virtual reality, a technology that most associate with gaming, entertainment and dystopic warnings from sci-fi writers including Ray Bradbury and Neal Stephenson, has moved into the real estate world in a big way.</p></em><br /><br /><p>With increasing <em>frustration</em> of penthouse shoppers reaching an immeasurable high, a novel application of new technology has been making a splash in the real estate market. <a href="https://archinect.com/news/tag/92794/virtual-reality" rel="nofollow" target="_blank">Virtual reality</a> has become the go-to tool for allowing <a href="https://archinect.com/news/tag/2203/real-estate" rel="nofollow" target="_blank">real estate</a> investors the opportunity to see precisely what they are paying for, before paying for it.&nbsp;</p> <p>Developers and Architects had already begun to use <a href="https://archinect.com/features/article/149982444/strapping-on-the-sacred-when-religion-enters-virtual-reality" rel="nofollow" target="_blank">virtual reality</a> as a means to understand ongoing projects, specification questions or operational processes but now this medium of spatial exploration has reached the ultimate audience, the potential inhabitant/client.</p> https://archinect.com/news/article/150043523/longaberger-the-big-basket-building-sold-to-developer-reconstruction-announced Longaberger "The Big Basket" building sold to developer; reconstruction announced Alexander Walter 2018-01-04T20:00:00-05:00 >2018-08-18T13:01:04-04:00 <img src="https://archinect.imgix.net/uploads/wb/wb2hb9h4t760eh00.jpg?fit=crop&auto=compress%2Cformat&w=1200" border="0" /><em><p>The Longaberger basket building has been sold. The iconic seven-story office building at 1500 E. Main St. in Newark has been sold to Coon Restoration of Louisville, which is near Canton. The developer has an eye toward converting the building and its 21-acre site to a new use, the company said in a release.</p></em><br /><br /><p>Developer Steve Coon, the landmark building's new owner, hasn't revealed specific details about his redevelopment plans for the property but announced Cleveland-based Sandvick Architects as the designers for the job.&nbsp;</p>