Month: May 2020

• New York City is budgeting $30.8 billion in property tax collections

  According to the WSJ, New York City is budgeting to collect $30.8 billion in property taxes for fiscal year 2021. These tax bills will go out on June 1 and payments will start becoming due on July 1, which is the start of the city’s fiscal year. Here’s how the collections break down across houses, apartments, and commercial properties:

  

  Overall — and despite the fact that values have softened in the wake of COVID-19 — this year’s property tax budget represents a 5.7% increase over FY2020. The reason for this is that each year the city completes its annual assessments on January 5. And so according to the city’s January numbers, everything is just fine.

  Supposedly this January 5 date is usually non-negotiable. A lawyer is quoted in the Journal article saying that under normal circumstances, if your house were to burn down on January 6, you would still have to pay all of your taxes for the upcoming fiscal year.

  Time will tell if this time is different. But it is interesting, though not surprising, to note just how significant property taxes are to New York City’s overall tax collections. They represent a little more half of all taxes collected.

  2020.05.31

• Toronto approves 40 km expansion of cycling network

  This week, Toronto City Council approved the largest ever one-year expansion of bike lanes in the city — a total of 40 km. It passed 23 to 2. Here is a map of the approved routes:

  

  The Bloor West extension is being accelerated. This will take the Bloor Bikeway out to Runnymede and High Park in the west (close to our Junction House project).

  New expansions of the network in the core include Bloor Street East, University Avenue, Dundas Street East, and Danforth Avenue (which also happens to connect another one of our development sites on Dawes Road).

  Bloor, University, and Dundas are expected to be among the first installations. The idea here is to have them mirror some of our subway lines and fill the mobility gap as many people shy away from transit in the short-term.

  All of this wouldn’t have happened without COVID-19, at least not this quickly. I’m certainly not happy about a pandemic, but as a car owner and fair-weather cyclist, I am happy about these new bikeways and I am happy that we were compelled into action.

  2020.05.30

• Living in the future

  

  Sam Altman’s recent blog post about how to generate ideas for startups has some invaluable tips that I think apply to much more than just new companies. As a reminder, Sam Altman is an entrepreneur and the former president of Y Combinator. So he’s had a fair bit of experience dealing with both startups and new ideas. YC also runs lots of experiments in an effort to get better at funding both great founders and great ideas. And it turns out that being able to generate a lot of new ideas is a critical skill to have when doing a startup. But again, I think you can ignore, for a moment, that Sam is even talking about startups and still find value in his words.

  Here’s the excerpt that stood out for me:

  It’s important to be in the right kind of environment, and around the right kind of people. You want to be around people who have a good feel for the future, will entertain improbable plans, are optimistic, are smart in a creative way, and have a very high idea flux. These sorts of people tend to think without the constraints most people have, not have a lot of filters, and not care too much what other people think.

  The best ideas are fragile; most people don’t even start talking about them at all because they sound silly. Perhaps most of all, you want to be around people who don’t make you feel stupid for mentioning a bad idea, and who certainly never feel stupid for doing so themselves.

  Stay away from people who are world-weary and belittle your ambitions. Unfortunately, this is most of the world. But they hold on to the past, and you want to live in the future.

  Photo by Fábio Lucas on Unsplash

  2020.05.29

• Surface Summer School at Penn

  

  The University of Pennsylvania Stuart Weitzman School of Design — my alma mater — has just launched a new initiative with Surface Magazine called the Surface Summer School at Penn. A fairly unique partnership between a media company and an accredited university, the goal of the “summer school” is twofold.

  One, it gives Penn students, who might otherwise struggle to find an internship in this climate, something productive and positive to do over the summer. And two, it applies design thinking to the problems of this pandemic.

  Penn students will have the month of June to design a prefabricated COVID-19 testing structure — one that could be rolled out in dense and compact urban centers around the world. A jury will then review the submissions and a winner will be announced by mid-July.

  The jury includes a host of noteworthy architects and designers: Winka Dubbeldam, Dror Benshetrit, Thom Mayne, Yves Béhar, Susan Sellers, Marion Weiss, Ferda Kolatan, Joe Doucet, and others. Starting on June 3rd at 6:30 PM eastern, members of the jury will also start delivering design lectures on Surface’s Instagram.

  I am looking forward to seeing the submissions. Hopefully all of them will be made public.

  Photo by Dyana Wing So on Unsplash

  2020.05.28

• Amazon might be buying Zoox

  This week the FT reported that Amazon is in “advanced talks” to acquire the self-driving startup Zoox. This would be Amazon’s first acquisition in the space, though it did lead a $530M funding round in Aurora in early 2019.

  Zoox last raised two years ago and was valued at $3.2 billion. Rumor has it that its valuation will be less than that today. Some of its investors, according to FT, include Breyer Capital and the Canadian Pension Plan Investment Board.

  The move seems reasonable. Amazon wants to build out its (driverless) logistics capabilities. It’s also in keeping with what we have been seeing from big tech. Companies that can are using this environment to be acquisitive, invest in the future and, hopefully, gain market share. It’s probably also inevitable that the self-driving space will see some consolidation going forward.

  If you go back to this post from earlier this year, Zoox and Aurora weren’t near the top in terms of R&D spending on autonomy. And it has become increasingly clear that this a giant problem/opportunity requiring giant funding capabilities. It’s going to take time.

  I recently heard Chamath Palihapitiya refer to Jeff Bezos as the greatest investor of our time — even more so than Warren Buffet. Why? Because he is consistently, and sometimes exclusively, investing in the future. Is this one of those moments?

  2020.05.27

• The state of the restaurant industry

  People are starting to eat at restaurants again. Here is a recent chart from the WSJ showing seated diners at restaurants on the OpenTable network:

  

  OpenTable has been publishing this data since the beginning of the pandemic in something they call “the state of the restaurant industry.” All of their datasets from around the world can be downloaded here.

  Back in March, it was interesting to see this data, but most people basically just stopped eating out around the middle of the month. After that, in-person dining mostly flatlined. (This data wouldn’t capture takeout, delivery, and other activities not flowing through the OpenTable network.)

  At this point, we are now seeing geographies reopen in different ways. Germany, for example, is ahead of many other countries (at least on the OpenTable network). Note the spike (i.e. lower year-over-year decline) on May 21st. It was a national holiday.

  

  You can also drill down into individual cities:

  

  I think this is a pretty good indicator for how people are feeling, and so it could be useful to follow this data. Governments can reopen things, but people need to feel confident to go out and spend money. It looks like a number of people already feel that way.

  2020.05.26

• Tracking epidemics in cities

  

  The last thing you probably need at this point is another webinar. But this one could actually be interesting. On May 29th, 2020 at 9:00 AM eastern, the Senseable City Lab at MIT is hosting one called, Tracking epidemics in cities: urban environments and the insights they provide into disease. The Senseable City Lab has previously looked at how sewage could be mined for real-time information about an urban population, revealing things like eating habits, genetic tendencies, drug consumption, and — yes — contagious diseases. In this webinar, SCL plans to pickup on this last point, as well as discuss how mobile phone patterns can help to inform epidemiological studies. If you’d like to register, click here.

  Image: SCL

  2020.05.25

• Jostling for space on the grass

  

  The talk this weekend in Toronto is about how everyone is jamming into downtown parks — like Trinity Bellwoods — to enjoy the beautiful weather and drink outside with friends.

  Some, including our mayor, are “extremely disappointed” by this selfish behavior. Others are chalking it up to those hipsters. And others, such as Richard Florida, are being highly sympathetic: these are young people who live in small urban spaces and they are clamoring for some green space. Let them be human.

  This, of course, is a debate that is playing out not just here in Toronto, but all around the world as we flirt our way into a reopening. Videos of the Lake of the Ozarks were making the rounds on Twitter when I last checked.

  I’m not here to pass judgement or predict a second wave (though a few waves are probably inevitable). I’ll leave that to the epidemiologists. The silver lining to all of this, I think, is that it is a clear demonstration of just how persistent urban life remains in the midst of this pandemic. The desire to be around other humans is a powerful force of attraction.

  Here is an excerpt from a recent FT Opinion by Ben Rogers called, Cities are not dead — they will get younger:

  Cities have always worked particularly well for young people. They flock to them to build up vital social and professional networks, meet their mates and learn how the world works. Around the world there is massive unmet demand for city homes and workspace. The idea that the centres of London, Paris and New York will turn into tumbleweed towns is fanciful. The age composition of these cities might change, but people and business will still be jostling for space near the centre.

  In Toronto this weekend, that jostling for space played out on the grass of Trinity Bellwoods Park.

  Photo by Adrien Olichon on Unsplash

  2020.05.24

• Laneway garage conversion in Toronto

  

  This isn’t a laneway suite per se, but Office Ou here in Toronto recently completed this garage conversion. The idea was to take a typical rear laneway garage and turn it into something that could better house a wide range of uses.

  As Toronto reconsiders its laneways and as fewer people own cars (a separate topic to be debated), we are likely to see many of these spaces rethought. In this case, the result is a true extension of the existing home. You probably want to have a nice looking car — a Porsche would do — if you’re going to continue to use it for that purpose.

  I’m drawn to spaces like this because I start imagining all of the different use cases: a dining room, an office, a studio for photoshoots, a place for Pecha Kuchas, and so on. In big and expensive cities it can be rare to have that bit of extra space that allows you to tinker and experiment. And I am a big fan of tinkering.

  Office Ou was founded by Nicolas Koff, Uros Novakovic, and Sebastian Bartnicki. Nicolas and I went to architecture school together both here in Toronto and in Philadelphia. Congratulations on completing a beautiful project.

  Photo: Adrian Ozimek

  2020.05.23

• What drives attachment to cities

  The Knight Foundation recently published a report looking at what attaches people to the place in which they live. To get this information, they surveyed over 11,000 Americans, some of which live in urbanized areas and some of which just live in metro areas across the United States. This is interesting information to know at any time point in time, but you could argue that it’s even more important at a time like this, where everyone seems to be questioning everything about cities.

  Here are two of their key findings:

  • People who spend more time in the principal or main city of a metro area — whether as residents or as frequent visitors — tend to be more attached. This is is true both in terms of how they feel, but also in terms of how they act, such as how much they give back to the community. I suppose you could debate whether going to the city creates attachment or whether attached people tend to go to the city, but this association does seem somewhat intuitive to me. I am imagining a greater sense of place in principal cities.
  • People who choose to live in a place because of its quality of life tend to express more attachment than people who live in a place for other reasons — such as for work. About 40% of Miami transplants cited the climate as the primary factor for moving. Sounds right. Weather is pretty hard to control, but there are lots of other things that cities can do to improve quality of life. And it seems to be one of the stickier factors. Similarly, access to cultural activities and recreational amenities seem to lead to greater attachment.

  More specifically, here are how some people feel about their metro areas:

  

  This chart is showing the “perceived accessibility to quality features.” The left column is what they believe to be the national average. And the other columns are for Akron, Charlotte, Detroit, Macon, Miami, Philadelphia, San Jose, and St. Paul. Looking at one row in particular — affordable housing — we see that about 50% of Americans surveyed believe they have access to it. In comparison, only 29% and 12% of residents in Miami and San Jose, respectively, feel the same way.

  For a full copy of the report, click here.

  Chart: Knight Foundation

  2020.05.22