Reed Kroloff has a noteworthy piece in the New York Times talking about how architecture is no longer just a ‘gentleman’s profession’. Though less than a third of AIA (American Institute of Architects) members are females, “offices led or owned by women are creating an ever-wider range of public buildings that address architecture and urbanism in new and invigorating ways”, says Kroloff.
I am thrilled, but not surprised, to see Jeanne Gang of Studio Gang on the list (pictured above). Her firm is the design architect behind our One Delisle proposal. And I was also happy to see Magui Peredo of Estudio Macias Peredo on the list. She is based in Guadalajara and, if you aren’t familiar with her work, I recommend you check it out. I love the materiality of it.
Image: New York Times
The San Francisco Chronicle recently published an article called, “SF residential projects languish as rising costs force developers to cash out.” It talks about the impact that rising costs (both construction and other) are having on new housing supply. Some developers aren’t building even though may have entitled sites. And that’s because the math doesn’t work, even though we’re in a market with a severe housing shortage.
Here is an excerpt from the article that talks about the kind of pricing that is needed in order to make a project work:
Chris Foley, a real estate investor and partner in brokerage firm Polaris Pacific, said that in the current construction environment a condominium developer needs to sell units for at least $1,400 a square foot for a wood-frame building and $1,800 a square for a taller, steel-frame midrise or high-rise. Even in a city where more than 80 percent of the population is priced out of the market, those numbers are a stretch, Foley said.
San Francisco also has inclusionary zoning, which requires a certain percentage of units in any new development to be priced below market. According to the article, it is 18% for new rental projects and 20% for new condo projects. That’s a cost that needs to be absorbed by the remaining market rate units – so price accordingly.
The MIRA tower designed by Studio Gang is currently under construction and has 156 affordable units and 393 market rate units. The market rate pricing looks something like this:
That’s the case with three buildings rising near the new Transbay Transit Center: Mira, the Avery at 400 Folsom St., and One Steuart Lane, which overlooks the Embarcadero at the foot of Howard Street. Unless there is a remarkable drop in the market, units in all three of those buildings will probably have an average sales price of more than $2,000 a square foot and penthouses could fetch $3,000 or even $4,000 a square foot. A 3,326-square-foot penthouse at 181 Fremont St., which opened last spring, recently sold for $15 million, or $4,500 a square foot.
Projects being squeezed by rising costs is something that we are also seeing here in Toronto. And I don’t believe that the general public fully appreciates that there are limits to the costs that can be shouldered by new development. And the reason for that is because there are limits to what people can afford to pay for new housing.
Photo by Jamie Street on Unsplash
Studio Gang has a project currently under construction in New York City called 40 Tenth Avenue. It is also known as the “solar carve tower.” Here are a couple of progress photos taken by Timothy Schenck. The glass is beautiful. (If you can’t see the embedded tweet below, click here.)
Status update from the construction site of 40 Tenth Avenue, our first tower in New York. It’s been exciting watching its progression, especially as the glass is installed on the building’s carved-away form, which is sculpted by the angles of the sun. Photos: @timothyschenck pic.twitter.com/Ks7RqUXEcB
— Studio Gang (@studiogang)
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This is one of my favorite buildings by Studio Gang and one that we all studied when we were kicking off One Delisle.
The geometry of the building is a result of carve outs that maximize the amount of sunlight that is able to reach the adjacent High Line (public space). It is form driven by functional logic. Here is a diagram from Studio Gang showing the carve outs that result from the sun’s rays.
The other thing I like about this project is that it is a clear proof of something that I’m going to call the “building height fallacy.” There can be a tendency to overfocus on building height, which I have argued against before on this blog.
In this case, a shorter and squatter building without these solar carve outs, would have actually been worse for the High Line and the surrounding environment in terms of access to light and air.
The building is responding to site-specific criteria – which is what great architecture should do.