Archinect - News

WeWork is mulling a potential Chapter 11 bankruptcy filing, according to reports

2023-11-01T16:03:00-04:00

WeWork's tumultuous thirteen-year saga may be coming to an end soon, as now Reuters and the Wall Street Journal have reported on the company’s apparently imminent plans to file for Chapter 11 bankruptcy in New Jersey.

The news was first reported by the WSJ early Tuesday, precipitating a dramatic nearly 50% drop in WeWork’s stock evaluation. A spokesperson for the company told reporters from CNN the same day that they would not comment on the legal maneuver, calling the news “speculation.”

Shares of WeWork have fallen by 96% since the beginning of the year. The business model founder Adam Neumann developed into a record-breaking $47 billion initial valuation was ultimately felled by the post-pandemic rise in remote work and other factors, including multiple conflicts of interest that led to his resignation in September 2019.

Neumann has since pivoted to a new housing startup venture called Flow last summer following a $350 million outside investment and is yet to provide his own stat...

Construction activity tumbles 11% in October

2019-11-18T18:56:00-05:00

According to a recently published report from Dodge Data & Analytics, a broadly based slowdown in the construction industry registered an 11% drop in construction starts for the month of October.

The report finds that the American economy generated $696.3 billion in construction spending in October, a sharp drop from the previous month's total that has rendered a 4% drop in construction activity overall when comparing the first 10 months of 2018 and 2019, respectively. Let's break down some of the figures in the report.

Rendering of the Consolidated Rent-A-Car Facilited at LAX designed by AC Martin. Image courtesy of Los Angeles World Airports.

Nonresidential Building Construction

Nonresidential building dropped 20% over the month of October, falling to $225.8 billion in total economic output.

According to the report, the relative decline is due, in part, to the fact that September saw "very strong" construction start numbers from a series of significant projects that began const...

Is the "retail apocalypse" overblown?

2019-08-13T14:00:00-04:00

The Department of City Planning studied commercial corridors in 24 neighborhoods across the five boroughs and concluded that while shuttered storefronts plague some of the city's richest and poorest areas, the phenomenon is far from a pandemic. "There is no single dominant trend in retail in New York City," the survey asserts. "Data did not indicate a pervasive vacancy problem across the city, but did identify a number of high-vacancy corridors."

Rio mayor admits Olympics were a “missed opportunity”, but believes the city has been unfairly portrayed

2016-07-14T17:49:00-04:00

“This is a missed opportunity,” Paes acknowledged. “We are not showcasing ourselves. With all these economic and political crises, with all these scandals, it is not the best moment to be in the eyes of the world. This is bad.” But he also believes the problems are exaggerated by the press in a way that unfairly portrays Rio to the outside world...“There has never been so much transformation for poor people [in Rio]...The Olympic Games are a great inspiration to get things done.”

Will LA's new metro extension bring growth to the city's peripheries?

2016-03-10T20:33:00-05:00

When City Manager Oliver Chi looks across Station Square next to the new Gold Line stop in Monrovia, he doesn't see a dilapidated train depot. He sees a bustling restaurant. Where an empty lot now sits, he sees a five-story apartment complex. That old lumber house? A bustling food hall. Los Angeles County's growing light-rail network plunges deeper than it ever has into suburbia this week with the opening of the Gold Line extension linking Pasadena to Azusa.

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