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Amid the backdrop of a national trend of tumbling enrollments, brutal pandemic-era learning losses and an ongoing flight of young families from urban centers, the dilemma of how to repurpose empty schools is that many cities face. According to the National Center for Education Statistics, about 2,200 public schools closed from 2019 to 2022. Chicago’s experiences offer some insights into what can happen to these spaces, and the communities around them, after the students get sent home. — Bloomberg
Lamar Johnson Collaborative Associate Principal Max Komnenich tells Bloomberg the other side to the growing problem of school closings can offer a “beacon for reinvestment” given the proper incentives. His firm’s Aspire Center conversion took advantage of a $12.5 million TIF that’s... View full entry
Indian Prime Minister Narendra Modi’s government has included hefty spending on infrastructure projects in its annual budget, looking to spur growth and improve its popularity just ahead of key state elections. The budget also includes a proposed 30% tax on income from cryptocurrencies. — ABC News
India also introduced a new digital rupee (after previously attempting a ban on cryptocurrencies) and plans to declare data centers and large energy storage systems as infrastructure in an effort to increase access to institutional funding. Hopes are that the investment in building projects will... View full entry
The Urban Investment Group within Goldman Sachs Asset Management announced that it closed a $75 million investment with the National Affordable Housing Trust (NAHT) to establish the Black Developers Initiative Affordable Housing Fund, which will finance high-quality affordable housing across the country sponsored by Black-led developers — GlobeSt.com
Six organizations in San Francisco, Georgia, New York and Dallas received the capital grants for community and affordable housing projects. Two of the projects work to address housing disparities, while the rest touch on topics surrounding the issues at the core of the $130 billion financial... View full entry
Foster + Partners, the largest architecture firm based in the United Kingdom, has announced a new partnership with a Canadian private family investment firm. The partnership with the Canadian firm, named Hennick & Company, sees the Hennick family now become the largest shareholder of Foster +... View full entry
A coalition of leading design and construction organizations have called on Congress to include funding in any new infrastructure proposal that would significantly improve the resilience and performance of buildings across the country, The American Institute of Architects announces. In a... View full entry
BlackRock, the world's largest asset management firm, has announced that it will use climate risk assessments and environmental sustainability as guiding metrics for how it makes investment decisions moving forward. The impact of this shift could have profound changes for the architecture and... View full entry
With industrial robotics forecast to be worth $71.72 billion by 2023, it’s no wonder entrepreneurs are turning their attention to increasingly lucrative sectors, like warehouse automation, order fulfillment, and manufacturing.
Tel Aviv-based Intsite is one of the latest examples. The startup today announced a $1.35 million pre-seed round led by Terra Venture Partners and the Israel Innovation Authority to fund what it claims is the world’s first autonomous crane technology.
— Venture Beat
Image: IntsiteAI-powered autonomous construction technology is poised to see enormous growth in the coming years, promising to significantly increase efficiency, cut costs & realization time, and reduce human errors as well as workplace-related injuries. "According to McKinsey, about... View full entry
Amazon has made clear that it wants to own the smart home space. Now the company's going a step further, taking a stake in a start-up that's building actual homes.
On Tuesday, Amazon said its Alexa Fund invested in Plant Prefab, a Southern California company that says it uses sustainable construction processes and materials to build prefabricated custom single- and multifamily houses. The start-up is aiming to use automation to build homes faster and bring down costs.
— CNBC
With this recent investment in eco-friendly prefabricated home factory Plant Prefab, Amazon uses its mighty financial leverage and dominance in the market for voice-controlled connected devices to make the brand just as synonymous with smart homes as it already is with online retail. Plant... View full entry
In the second quarter of this year, investment spending by the federal government dropped below 1.4 percent of gross domestic product for the first time since the 1940s, according to the latest data from the Bureau of Economic Analysis. OK, at 1.397 percent, it wasn’t much below, and federal government investment as a share of GDP isn’t exactly a closely watched economic indicator. But the decline through the decades is still pretty striking... — bloomberg.com
Justin Fox tracks the decline in U.S. government spending over the years, noting infrastructure investments have largely been replaced with spending on social insurance programs. With private investors taking the lead, Fox argues U.S. infrastructure suffers as there are many vital projects which... View full entry
How do you raise the standard of living in the poorest neighborhoods in the country?
That’s what community developers, typically nonprofits that build and finance affordable housing, have tried to do over the last few decades. And yet [...] many of these communities remain stuck in poverty. [...]
This problem has stumped community developers for decades. But two local nonprofits think they’ve hit on something: They’ve created a private equity fund.
— marketplace.org
How will China's $36.1 billion dollar investment shape the future of Africa? While China only has 66 projects over the continent compared to the United States' 91 projects, it has pledged about ten times the total amount of money, and the lion's share of that cash is earmarked for Egypt. As Global... View full entry
The notion of spending time at a subway stop or other major transit center for pleasure may strike you as odd, but many cities and transportation companies are investing heavily in building up this part of their infrastructure to create desirable public spaces (it adds a whole new dimension to... View full entry
YCombinator, the Silicon Vallley start-up accelerator and investment firm behind Airbnb and Dropbox, announced its entrepreneurial reach into city-building this past summer, with the goal to develop "a city for humans" with reduced housing expenses and a simplified planning code.Some SV... View full entry
There is a city which is suffering a worse property bubble than Sydney, whose residents are more priced-out than Londoners, and where there is a greater divide between the housing haves and have-nots than even San Francisco.
That city is Vancouver, and in response to these mounting challenges, the west-coast Canadian metropolis recently imposed an extraordinary new tax on foreign buyers – whose impact is now being watched closely by other cities grappling with bloated property markets.
— theguardian.com
Related stories in the Archinect news:Mayor of London launches probe into the impact of foreign investment in city's real estateAnother case of "poor door" for proposed Vancouver high-riseCan Vancouver break out of its 'boring-architecture' mold with these new ambitious skyscraper View full entry
It’s not a new argument to say that cities are increasingly morphing from social configurations to investment vehicles. [...]
“Self-builds”, “Baugruppen”, and “zelfbouw” are just a few ways to define variations of building-it-yourself (BIY), whether done individually or as a collective. The end users (who are the commissioners), together with architects, decide on the design of their homes, and then take care of the construction themselves or have contractors do it.
— failedarchitecture.com
Related stories on Archinect:It's the Culture, Stupid: curatorial statement for the International Architecture Biennale Rotterdam, from executive director George BrugmansReinhold Martin hosts contentious 'House Housing' panel, provoking discussion on inequality, real estate and architectureHalfway... View full entry
