A recent study and research paper by the MIT Senseable City Lab -- called, Tasty Data -- has discovered that restaurant data alone can be used to accurately predict location-based factors such as daytime population, nighttime population, number of businesses, and overall consumer spending within a specific geography.
They started by pulling restaurant data from Dianping (Chinese equivalent of Yelp) for 9 Chinese cities: Baoding, Beijing, Chengdu, Hengyang, Kunming, Shenyang, Shenzen, Yueyang, and Zhengzhou. They then paired their Dianping data with other available data (such as aggregated mobile phone data) and used machine learning to search for any correlations.
Below is a diagram of "nighttime population" in Beijing. They are using a 3 km2 grid.
If you're a regular reader of this blog, you'll know that I like these kinds of studies. By 2020, it is estimated that 1.7MB of data will be created every second by every person on earth. The numbers are staggering. And yet, "official" data sources, such as census data, remain slow and fairly limited. Studies like this one continue to show us what's next.
Image: MIT Senseable City Lab
Last summer, Zach Mortice published this article in Metropolis talking about two new buildings in Chicago. Here is his architectural description of the first:
Ross Barney’s design is unabashedly cosmopolitan, yet welcoming. Conceived as a series of interlocking Miesian pavilions, it comprises a glass cube containing the dining room and a smaller opaque volume, which holds the kitchen. The glass envelope shows off the restaurant’s burly cross-laminated timber beams, the first time this ultra-strong, low-carbon structural system has been used in Chicago. The exterior pergola is clad with solar panels and provides shade across an entire city block while also generating most of the restaurant’s energy. With a landscaped plaza and outdoor seating, there’s a strong focus on attracting pedestrians to this green-starved section of the city, with a landscaped plaza and outdoor seating.
Zach is describing the then new flagship McDonald’s in the River North area of Chicago. That’s maybe not what you were thinking as you were reading the description, but it is, of course, part of a broader transformation for the brand:
“We don’t need to be loud anymore,” says David Vilkama, McDonald’s global creative director. “We’re trying to move away from the old, cheap, plasticky, in-your-face fast food culture.”
It is a clear example of the value of good design and also how it has seemingly become table stakes for many firms and industries.
But as Zach points out in this article, is this also evidence that brands need to, not only invest in good design, but also move upmarket in order to maintain growth?
In other words: Does good design inevitably equal more expensive?
Today, the Slate Canadian Real Estate Opportunity Fund I announced a new name for its 40 storey tower at 700 2nd Street in Calgary: Stephen Avenue Place.
It also announced that it has partnered with Oliver & Bonacini Hospitality and Concorde Entertainment Group to create three new dining destinations at the property: a top floor restaurant, a food hall, and a high-energy restaurant/bar/patio at street level.
Here are a couple of excerpts from today’s press release:
Stephen Avenue Place offers 620,000 square feet of rentable space at the nexus of the historic Stephen Avenue Walk and 2nd St. This classic of the Calgary skyline will undergo a significant renovation – from its public-access ground floor to exclusive tenant amenities and top-floor restaurant – that will reposition it as a modern hub for energy, innovation, business, dining and shopping.
The acquisition and renovation of Stephen Avenue Place is part of Slate’s growing investment in Calgary. In the past 18 months, Slate has increased its footprint in Calgary to 2.3 million square feet with the purchase of 21 office properties, including 12 downtown.
“We are thrilled to acquire and develop such a high-quality property in downtown Calgary that offers businesses, diners and shoppers the very best in location, amenities and access,” said Slate founding partner Blair Welch. “Stephen Avenue Place will undergo an extensive renovation to fully reflect the way we work and live now, while respecting and celebrating its history and future as a Calgary landmark.”
For the full press release, click here. And to learn more about Stephen Avenue Place, including leasing opportunities, click here.
Disclosure: As many of you already know, I work for Slate Asset Management L.P. I am responsible for the company’s ground-up development efforts.