We’ve been talking about a lot of heavy topics here on Architect This City lately. Everything from the contentious Gardiner Expressway East to minimum population densities to density creep.
So today I thought we could talk about something a bit more fun: architecture.
When I was in New York last weekend, one of the buildings that was on my must-see list was the now under construction West 57th Street by Danish architect Bjarke Ingels. See photo above. (It also happens to be at the exact location where the West Side Highway transitions from elevated to surface boulevard.)
This is supposedly the first North American project for Bjarke Ingels (he also has a project in Vancouver now). And if you’re a regular reader of this blog, you’ll know that I’m a fan of his work. His diagrams and storytelling ability were a big inspiration for me when I was in architecture school.
The concept behind the project was to create a new hybrid building typology, one that is a cross between the typical European perimeter block building and the North American skyscraper. And the result is pretty wild.
Here’s a video in case you aren’t familiar with the project. Click here if you can’t see it below.
[youtube https://www.youtube.com/watch?v=_0JbTbOm_iQ?rel=0&w=560&h=315]
I think it’s a really exciting project. What are your thoughts?
We’ve been talking about a lot of heavy topics here on Architect This City lately. Everything from the contentious Gardiner Expressway East to minimum population densities to density creep.
So today I thought we could talk about something a bit more fun: architecture.
When I was in New York last weekend, one of the buildings that was on my must-see list was the now under construction West 57th Street by Danish architect Bjarke Ingels. See photo above. (It also happens to be at the exact location where the West Side Highway transitions from elevated to surface boulevard.)
This is supposedly the first North American project for Bjarke Ingels (he also has a project in Vancouver now). And if you’re a regular reader of this blog, you’ll know that I’m a fan of his work. His diagrams and storytelling ability were a big inspiration for me when I was in architecture school.
The concept behind the project was to create a new hybrid building typology, one that is a cross between the typical European perimeter block building and the North American skyscraper. And the result is pretty wild.
Here’s a video in case you aren’t familiar with the project. Click here if you can’t see it below.
[youtube https://www.youtube.com/watch?v=_0JbTbOm_iQ?rel=0&w=560&h=315]
I think it’s a really exciting project. What are your thoughts?
Image Source: Vancouver by Marc M on 500px
According to a recent Bloomberg article, this is where the rich are putting their money today:
“The two greatest stores of wealth internationally today is contemporary art….. and I don’t mean that as a joke, I mean that as a serious asset class,” said Fink. “And two, the other store of wealth today is apartments in Manhattan, apartments in Vancouver, in London.”
In case you wondering, Laurence Fink is the founder and CEO of BlackRock Inc., which today is the largest asset manager in the world. They have over $4.77 trillion in assets under management according to their website. That’s a mind boggling number.
And if you read the Bloomberg article cited above, you’ll see that this interest in both art and apartments represents a shift away from gold as the de facto safe haven.
“Historically gold was a great instrument for storing of wealth,” the chairman of BlackRock Inc. said at a conference in Singapore on Tuesday. “Gold has lost its luster and there’s other mechanisms in which you can store wealth that are inflation-adjusted.”
What’s interesting and probably most relevant to the Architect This City community though is this investment focus on apartments.
When people talk about a possible housing bubble in Canada they often cite house prices to median household income as a key ratio. The question then becomes: How can house prices be such a high multiple relative to local incomes?
That’s relevant, but it’s not the entire story for cities like New York, London, and Vancouver. That ratio alone assumes that real estate isn’t a global investment vehicle. And for some people people it is exactly that.
A few days I retweeted the above home from Dwell Magazine. Then yesterday I was driving through midtown Toronto and I stumbled upon it. And that got me thinking more about this kind of project.
The house is a triplex with, presumably, one unit in the basement, one unit on the main floor, and one unit across the 2nd and 3rd floor. The existing detached house was only 2 storeys and so a third floor was added to create what is likely the “owner’s suite.”
It’s not uncommon for many of the houses in central areas of Toronto to be converted into duplexes and triplexes or to flip back into single family homes after being subdivided for rentals. It goes to show how adaptable the single family house can be.
But it’s not everyday that you see such a high end triplex being built as, what seems to be, a permanent residence and kind of dream home for the owners. Historically, when people built their dream home it has meant a single family home.
This might not seem like an important distinction, but I think it demonstrates a growing acceptance of intensification within low-rise single family neighborhoods.
Part of this I’m sure has to do with rising housing costs. But I think it also has to do with valuing location over raw space and with an acceptance of urban density.
I don’t know about you, but I would have no concerns with permanently laying down roots in a house like this. It’s beautiful.
Image: Dwell
Image Source: Vancouver by Marc M on 500px
According to a recent Bloomberg article, this is where the rich are putting their money today:
“The two greatest stores of wealth internationally today is contemporary art….. and I don’t mean that as a joke, I mean that as a serious asset class,” said Fink. “And two, the other store of wealth today is apartments in Manhattan, apartments in Vancouver, in London.”
In case you wondering, Laurence Fink is the founder and CEO of BlackRock Inc., which today is the largest asset manager in the world. They have over $4.77 trillion in assets under management according to their website. That’s a mind boggling number.
And if you read the Bloomberg article cited above, you’ll see that this interest in both art and apartments represents a shift away from gold as the de facto safe haven.
“Historically gold was a great instrument for storing of wealth,” the chairman of BlackRock Inc. said at a conference in Singapore on Tuesday. “Gold has lost its luster and there’s other mechanisms in which you can store wealth that are inflation-adjusted.”
What’s interesting and probably most relevant to the Architect This City community though is this investment focus on apartments.
When people talk about a possible housing bubble in Canada they often cite house prices to median household income as a key ratio. The question then becomes: How can house prices be such a high multiple relative to local incomes?
That’s relevant, but it’s not the entire story for cities like New York, London, and Vancouver. That ratio alone assumes that real estate isn’t a global investment vehicle. And for some people people it is exactly that.
A few days I retweeted the above home from Dwell Magazine. Then yesterday I was driving through midtown Toronto and I stumbled upon it. And that got me thinking more about this kind of project.
The house is a triplex with, presumably, one unit in the basement, one unit on the main floor, and one unit across the 2nd and 3rd floor. The existing detached house was only 2 storeys and so a third floor was added to create what is likely the “owner’s suite.”
It’s not uncommon for many of the houses in central areas of Toronto to be converted into duplexes and triplexes or to flip back into single family homes after being subdivided for rentals. It goes to show how adaptable the single family house can be.
But it’s not everyday that you see such a high end triplex being built as, what seems to be, a permanent residence and kind of dream home for the owners. Historically, when people built their dream home it has meant a single family home.
This might not seem like an important distinction, but I think it demonstrates a growing acceptance of intensification within low-rise single family neighborhoods.
Part of this I’m sure has to do with rising housing costs. But I think it also has to do with valuing location over raw space and with an acceptance of urban density.
I don’t know about you, but I would have no concerns with permanently laying down roots in a house like this. It’s beautiful.
Image: Dwell
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