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Old June 16th, 2008, 08:56 AM   #1441
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Old June 21st, 2008, 04:01 PM   #1442
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Old August 14th, 2008, 11:17 AM   #1443
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Cost of Building in New York Is Nearly Triple That of Chicago or Atlanta, Report Finds
Expense Soared 32% Between 2004 and 2007


By PETER KIEFER, Staff Reporter of the Sun | July 30, 2008

Constructing a square foot of office space in New York City costs almost three times as much as it would cost in Chicago, Atlanta, and other American cities, according to a report being released today.

Just as spending for nonresidential construction has surpassed $1 trillion annually across the country, the costs associated with construction in New York City — materials, labor, and city permitting delays — have made it far and away the most expensive city to build in in America, a report being released today by the New York Building Congress and New York Building Foundation says.

"That is a huge differential," the president of the Real Estate Board of New York, Steven Spinola, said yesterday when told of the report's city-to-city cost differentials. The report estimates that a square foot of office space for a high-rise in New York can exceed $400 a square foot, not including marketing, land costs, or the developer's profits.

The total project costs, including soft costs, can average $150 a square foot in Chicago and $120 a square foot in Atlanta.


The report's findings come at a pivotal moment for New York's construction industry. A series of fatal crane accidents in recent months resulted in the resignation of the buildings commissioner, Patricia Lancaster, and a number of criminal investigations. The City Council is considering legislation that would overhaul the training and inspection policies related to cranes and construction sites in the city.

The added safety measures come as a number of billion-dollar development projects in New York City have faced delays and budget shortfalls. Many of those projects have been scaled back or abandoned altogether due in part to the rising costs of construction and difficulties associated with gaining government approvals. This week Mayor Bloomberg announced a series of changes aimed at easing the risks assumed by contractors bidding on public/private projects.

"This year has already produced news that government is pulling back on long-anticipated and initially funded projects — such as the expansion of the Jacob K. Javits Convention Center and creation of a Fulton Street Transit Center. These events point to the collective need to get a real handle on building costs, especially given the multitude of major transit and development projects currently on the drawing board — including the Second Avenue Subway, Atlantic and Hudson Yards and the World Trade Center build out," the president of the Building Congress, Richard Anderson, said in a statement.

In New York City costs have risen 32% between 2004 and 2007 and are expected to increase 1% each month till at least 2010, according to the report, which says nonresidential construction spending has increased 46.5% since 2004 nationwide.

The report said that in New York City "land costs have accelerated beyond all of the other cost factors" but the report also cites local regulations and government policies, workforce shortages, more extensive union rules, and stringent environmental standards, as well.

"Many factors unique to New York affect its costs. Proximity to subways, the depth of rock, a dense urban fabric, confined sites, the presence of previous and adjacent structures, and the size and risk associated with large scale projects present complexities that layer on costs," the report says.

Mr. Bloomberg's proposals, which mirror the recommendations suggested in the report, include the city compensating contractors whose public works projects are delayed by city mistakes, and trying to estimate more accurately the cost of projects before they are given budget approval.

Mr. Spinola said Mr. Bloomberg's proposals and those mentioned in the report would be a welcome relief to his members.

"It clearly is necessary. When contractors bid for New York jobs they add a percentage to it because they know it is going to take them longer to get the permits and that it will be more complicated, so they build that into the cost. If there can be confidence that payments can be made, and there will be no inappropriate second-guessing, I think you will see the prices come down," he said.


http://www.nysun.com/new-york/report...t-in-us/82824/

-----------------------------------------------------------------


Relief is sought as building costs soar
Construction industry solutions range from traffic to taxes



by amy zimmer / metro new york
JUL 31, 2008

New York is by far the nation’s most expensive city for construction.

Since 2004, New York’s construction costs have increased by nearly 40 percent, making it 70 percent more expensive than Chicago, 60 percent more than Dallas and 20 percent more than Los Angeles, a report released yesterday by the New York Building Congress said.

The construction industry wants to reduce the costs associated with materials, labor and permitting delays. Implementing congestion pricing to reduce traffic — which creates costly delays when transporting materials — and continuing to rezone “idle or derelict industrial land,” were among the report’s suggestions.

Land costs have “accelerated beyond all other cost factors,” it stated.
“We’re two-and-a-half times more expensive to build an office building than Chicago,” Building Congress President Richard Anderson said at a forum yesterday. Chicago also faces challenges of building in a dense environment with high labor costs, Anderson said, but New York’s “government procedures are much more onerous.”

The Bloomberg administration is trying to change this, recently announcing reforms to make city capital construction projects more affordable and increasing competition for bids.

There was a surge of permits in June — 17,000 were issued citywide compared to 4,028 filed last year —but that 325 percent increase was largely a rush by developers wanting to qualify before the new 421a tax abatements take effect, which will limit developers’ tax breaks in many parts of the city.

“If prices are going up and taxes aren’t abated, how do you build anything affordable?” asked Steven Spinola, president of the Real Estate Board of New York.


Cause for concern

Already such big projects as the Javits Convention Center and the Fulton Street Transit Center have been scaled back because cost estimates far exceeded original estimates. The construction industry is concerned considering other big projects on the drawing board — the Second Avenue Subway, World Trade Center, Moynihan Station and Atlantic Yards.


40

The percentage increase in New York’s construction costs since 2004 making it one of the most expensive places to build in America.


http://ny.metro.us/metro/local/artic...oar/13186.html
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Old August 21st, 2008, 08:53 AM   #1444
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FOREST CITY RATNER COMPANIES CLOSES ON FINANCING FOR $200 MILLION DOWNTOWN BROOKLYN RESIDENTIAL BUILDING

Building Designed to be LEED-Certified and to Include Affordable and Market-Rate Apartments


BROOKLYN, NEW YORK – August 20, 2008

Forest City Ratner Companies (FCRC) announced today that it has closed on financing for a 335,000-square-foot building at 80 DeKalb Avenue in Downtown Brooklyn.

The Costas Kondylis-designed building is the first residential tower constructed by FCRC in Brooklyn. Situated on DeKalb Avenue between Hudson Avenue and Rockwell Place, and bordering the BAM Cultural District, the 34-story tower will include 73 affordable and 292 market-rate rental units, making it the first 80/20 development in Brooklyn financed with bonds issued by the New York State Housing Finance Agency.

Unlike most 80/20 developments, 80 DeKalb will remain affordable for 99 years. For the initial 35 years, 62 affordable units will be made available for households earning up to 50% of the area median income (AMI) and 11 units for households with incomes up to 40% of AMI. For the remaining years, all of the affordable units will be made available for households earning up to 90% of AMI.

“We’re very excited about 80 DeKalb,” said Bruce Ratner, Chairman and CEO of FCRC. “It is a magnificent building at a great location that will provide both affordable and market-rate homes. We believe, too, that this is positive development during a tough market and points to the ongoing attraction of Brooklyn as a place to live and work.”

Mr. Ratner noted as well that with 80 DeKalb, FCRC has closed on financing for three projects within the past year, totaling more than $1.5 billion in construction loans.

The New York State Housing Finance Agency selected 80 DeKalb to receive $109.5 million in tax-exempt bonds and $27.5 million in taxable bonds. The lending institutions involved in the transaction were Wachovia Bank, N.A., and Helaba (both co-agents providing the credit enhancement to the $137 million in bonds issued by HFA), as well as the National Electrical Benefit Fund, which provided a $10 million mezzanine loan and $20 million of credit enhancement.

As part of its ongoing commitment to strengthen minority- and women-owned (M/WBE) businesses, FCRC has already awarded 19% of the project’s contracts to M/WBE firms. In addition, FCRC projects that 30% of the construction workforce will be made up of minority workers and 10% of women workers. Like all FCRC developments, 80 DeKalb will be built entirely with union labor.

The building, designed to achieve LEED Certification, is expected to meet or exceed the sustainable design measures set forth by the U.S. Green Building Council. 80 DeKalb’s “green” features include improved indoor air quality through the use of low or no volatile organic compound (VOC) emitting materials, water reduction by means of low-flow fixtures and diverting waste from landfills by recycling over 75% of construction waste and using recycled materials with recycled content. Major construction on the building began Monday, July7th, 2008. It is expected to open for leasing during the summer of 2009.

http://www.observer.com/2008/real-es...eene-mini-city
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Old August 21st, 2008, 08:56 AM   #1445
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Construction has begun at + Art ata 540 West 28th Street

12-AUG-08

Ekstein Development of which Erick Ekstein is a principal is developing a two-tower residential complex in West Chelsea in conjunction with RD Management.

At 549 West 28th Street, it plans to build a 13-story condominium building with 88 residential and two commercial units.

Leonard Fusco of GF55 Partners is the architect.

The building, which is known as "+ Art," will have a red-brick facade with protruded window surrounds and two setbacks.

The building will have a 24-hour attended lobby, concierge services by Abigail Michaels, a fitness center, a landscaped courtyard, a roof deck with outdoor showers and wet bar and cabanas, and individually heating and air-conditioning in every room.

Apartments will have 5-inch oiled white oak floors, double-glazed windows, dark stained walnut kitchen cabinetry, Hone Absolute Black granite kitchen countertops, Subzero refrigerators, Betrazonni ranges, and Bosch washers and dryers.

The complex also consists of a 101-unit rental apartment building at 537 West 27th Street that will also have a 20,000-square-foot catering facility.

http://www.cityrealty.com/new_develo...h-street/24402
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Old August 21st, 2008, 09:03 AM   #1446
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Landmarks approves air rights transfer to 516 Fifth Avenue


05-AUG-08

The Landmarks Preservation Commission unanimously recommended today that the City Council approve a transfer of air rights from the General Society of Mechanics and Tradesmen building at 20 West 44th Street to 516 Fifth Avenue on the northwest corner at 43rd Street.

The transfer will permit the society to undertake a major restoration and renovation of its landmark facility and create a fund for its ongoing maintenance and it provides RFR Holdings, of which Aby Rosen is a principal, with about 60,000 square feet of development rights for its 678-foot-high, mixed-use project at 516 Fifth Avenue.

The society's building was designed by Lamb & Rich in 1891 for the Berkeley Preparatory School. Several years later, the society acquired the building and commissioned Ralph Townsend to enlarge it.

RFR is also purchasing about 53,000 square feet of development rights from the Princeton Club at 15 East 43rd Street, and about 81,000 square feet of development rights from the Century Association, a landmark cultural club building designed in 1891 by McKim Mead & White, at 3 East 43rd Street.

The transfers from these three sites will enable RFR to erect a building with some retail space, 241 hotel rooms and a score or so residential condominiums on the top 11 floors of the 55-story tower. Pelli Clarke Pelli, which designed One Beacon Court, the Museum of Modern Art Tower and the Wintergarden at the World Financial Center at Battery Park City, and the Sea Hawk Hotel and Resort in Fukuoka, Japan, is the architect of the proposed tower.

The new tower is setback on a clear-glass-clad base that is designed to complement the famous, landmark bank building on the southwest corner at 43rd Street that was designed in 1954 by Skidmore, Owings & Merrill and is one of the hallmarks of mid-20th Century modern architecture in the city.

According to Michael Sillerman, the attorney representing the developers before the commission, the proposed tower needs some public approvals relating to setbacks and bulk. The rendering shown at today's hearing indicated that the rectilinear, setback tower will be clad in reflective glass.

Robert Tierney, the commission's chair, noted that the "74-711" application to permit the air rights transfer in exchange for a significant restoration and preservation plan for the landmark building was "totally more than adequate," adding that the commission was not discussing the "interesting and provocative" proposed new tower.

A statement read by the Municipal Art Society of New York, however, maintained that the new project's glass tower clashed with the dominant stone aesthetic of Fifth Avenue in midtown. "It has been the long-standing policy of MAS to encourage the continuation of the expression of stone along Fifth Avenue," it maintained, adding that "glass and steel buildings change the nature of the internationally-renowned avenue." The statement also noting that "the Manufacturers Hanover Trust building, an individual landmark, is obviously an exception" and "is revered precisely because it stands out about the Fifth Avenue buildings." The society therefore asked the architects to explore ways to incorporate stone into the new building's design to keep the context of Fifth Avenue intact."

Fifth Avenue, of course, has had previous glass "incursions" such as Olympic and Trump Towers and 717 Fifth Avenue whose Steuben Glass fountain and plaza were destroyed in an expansion some years ago.

Andrea Goldwyn speaking on behalf of the New York Landmarks Conservancy supported the preservation plan for the society and suggested it seek to have its impressive, skylit, library atrium designated an official city interior landmark. She also noted that her organization regrets the "demolition of several fine older structures" that are not protected by the City's Landmarks law at the site of the proposed new tower.

http://www.cityrealty.com/new_develo...h-avenue/24362
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Old August 21st, 2008, 09:08 AM   #1447
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Plans For Queens West Megadevelopment Move Forward

by Gabby Warshawer | August 18, 2008

Last Wednesday the city held public hearings on three huge land-use plans, but only two of those were widely reported upon: the rezoning of the Lower East Side and the redevelopment of Willets Point. The third hearing concerned Hunters Point South (formerly known as "Queens West") and the development there of 5,000 units of housing, 60 percent of which, according to WNYC, would be set aside for residents who earn between $55,000 and $158,000 a year.

The massive project is on the 24-acre Long Island City land where the Olympic Village would have been built if New York won its bid for the 2012 Olympics. When plans for Hunters Point South were first announced a couple years ago, the city said all of the housing would be set aside for middle-income earners, but it has since changed its vision for the site to allow for the construction of market-rate units.

Meanwhile, a deal that would have given the Real Estate Board of New York (REBNY) a large measure of control over the development remains largely theoretical, according to REBNY president Steven Spinola.

"We're advising the city on the site as they bring it through ULURP," says Spinola. "We don't know how active a role they want us to play in the development, but right now we only have an advisory role, and it may continue to be just advisory. The city is talking amongst themselves about how to bring in the construction of the first phase."

The City Planning Commission is expected to vote on the proposal next month, according to a Planning spokesperson, and after that it would head to the City Council for approval.

http://www.observer.com/2008/real-es...t-move-forward
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Old August 21st, 2008, 10:32 AM   #1448
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Thanks for the updates krull. Great stuff.
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Old August 25th, 2008, 07:43 AM   #1449
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City vote on E. 125th Street rezoning near
Step is seen as paving way for massive mixed-use development.



Theresa Agovino
August 22. 2008

The New York City Planning Commission is slated to vote on Wednesday on whether to rezone the eastern portion of 125th Street, which would help the pave the way for the construction of a proposed 1.7 million square foot, mixed-use complex.

But property owners in the development zone say city officials have yet to make any offers for their land, which they fear will be acquired through the use of eminent domain.

“I’m not a hold out but I don’t want to get stepped on,” said Damon Bae, who owns three lots in the proposed zone, which is roughly six acres and extends from East 125th to East 127th streets between Second and Third avenues. “I want fair value.”

In May city officials promised to make him an offer, but he hasn’t heard from them since. He worries that the city’s offer won’t reflect his property’s value as a development site. The city already owns 81% of the land designated for the project.

In a statement, the New York City Economic Development Corp. said it is having ongoing discussions with property owners and that they will all be dealt with fairly.

City officials spent months working with community activists and local politicians to create the concept for the project, which is slated to include stores, restaurants, offices and housing. However, strains began emerging in March because the city opted to start to rezone the parcel before selecting a developer. While not unprecedented, it is unusual.

Some community activists argue that rezoning without a developer weakens the city’s bargaining position, making it harder to extract as many benefits for the neighborhood. City officials counter that delaying the choice extends the competition.

A developer will be chosen before the City Council votes on the rezoning proposal in October, according to an EDC spokesman. It is likely that the Council will approve the proposal because members usually vote in accordance with the representative who represents the district, and Melissa Mark-Viverito backs the plan.

Vornado Realty Trust, Thor Equities and General Growth Properties confirmed they are bidding on the project.

General Growth owns South Street Seaport, and tenants at that mall are trying to kill their landlord’s attempt to win the 125th Street proposal. In conjunction with Local 32BJ, the South Street Seaport Tenants Association took out an ad in Crain’s New York Business expressing doubt that their businesses would be welcome at the site after General Growth redeveloped it. The ad said that the city’s neighborhoods will be hurt if developers like General Growth are allowed to disregard long-standing community businesses.

General Growth had no comment on the letter.


http://www.crainsnewyork.com/apps/pb...REE/50600/1059
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Old August 25th, 2008, 09:45 PM   #1450
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thx krull, NYC is still booming like hell. never heard of that 55 storey tower near the ESB, fantastic news
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Old August 30th, 2008, 02:57 AM   #1451
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thx krull, NYC is still booming like hell. never heard of that 55 storey tower near the ESB, fantastic news
Yeah the council of the city approved 84 rezonings. If you want to know about more NYC construction check this website everyday http://curbed.com/
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Old August 30th, 2008, 11:06 AM   #1452
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A rendering of the proposed building at 516 Fifth Avenue.
Source: Pelli Clarke Pelli Architects






some other news...

Deliriousness at 23 East 22nd Street

Rem Koolhaas became very famous with the publication of his marvelous book, "Delirious New York," in 1978 and would go on to create such dazzling new structures as the Central Library in Seattle in 2004 and, most recently, the CCTV Headquarters Building, a huge, angled, looping structure in Beijing.

The developers of the recently topped-out residential condominium tower known as One Madison Park designed by Cetra-Ruddy at the foot of Madison Avenue at 23rd Street recently created considerable excitement in architectural circles when they revealed they had commissioned Mr. Koolhaas to design a 22-story annex at the rear of the new tower at 23 East 22nd Street.

A rendering of the annex appeared August 22 in an article by Edwin Heathcote in the August 22, 2008 edition of the Financial Times. Mr. Heathcote is the architecture critic of the Financial Times.

In his article, Mr. Healthcote notes that good design has begun to reappear in Manhattan and claimed that "the real change is yet to come."

"But," the article continued, "the real change is yet to come. Three skyscrapers currently mooted are among the most intriguing proposals in contemporary architecture. The game was kicked off by French architect Jean Nouvel's MoMA tower (below), a 75-storey latticework spike. Engineering as aesthetic, this is structure stripped bare: even when complete, it will evoke the visceral beauty of the construction process. Herzog & De Meuron's Leonard Street Tower in Tribeca offers a new take on the skyscraper (the design of which will be fully revealed next month): a stack of crystalline boxes bearing down on and squeezing a blobby Anish Kapoor sculpture at its base. Finally, there is 23 East 22nd Street...by Rotterdam's Office for Metropolitan Architecture. It comes to us from the office of Rem Koolhaas....This is an eccentric, clever building, one to be taken seriously. The proposal (revealed exclusively to the FT) is typically provocative. Invoking a world of ziggurats and pyramids somewhere between Metropolis, Dada and Busby Berkeley, OMA brings us essence of Manhattan. It boils down to those steps, the set-backs and terracing so characteristic of the city - but used the wrong way round. Instead of set-backs, we have step-outs, a tottering tower cantilevered over its neighbours, allowing it to grab extra space from thin air while still permitting light to reach its neighbours. Twenty-three East 22nd Street is the zenith of a burst of creativity from the world's top architecture firms, each bringing to bear the intellectual, structural and aesthetic focus that has been so lacking in Manhattan's architecture since the last great explosion of corporate expression in the early 1960s."

The "tottering" design of the tower's rendering, which rises from a quite small plot and cantilevers fully over a low-rise building just to its east, appears to be quite an astounding engineering feat although it bears no contextual relationship to its illustrious neighbors such as the Clock Tower of the former Metropolitan Life Insurance Company, its great north annex building and the Flatiron Building and it clashes madly with the sleek glass facade of One Madison Park, which will have 68 residential condominium apartments. Some of its cantilevered upper floors will have views up Madison Avenue but most will not have views of Madison Square Park.
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Old August 31st, 2008, 11:28 PM   #1453
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Yeah the council of the city approved 84 rezonings. If you want to know about more NYC construction check this website everyday http://curbed.com/
cool site, thx for the link
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Old September 2nd, 2008, 06:10 AM   #1454
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The relevants new buildings that i see on this topic for new york (and for me) are this…

New York Marriott at the Brooklyn Bridge Expansion: 23 floors - 240 feet



The Saya (22 East 23rd Street): 51 floors - 617 feet



The Brompton (200 East 86th Street): 20 floors - 210 feet



200 Eleventh Avenue: 20 floors (THE MOST BEAUTIFULL IN YEARS!!!, and is soooo new york)




210 West 91st Street: 25 floors


New York Times Tower: 52 floors - 1,046 feet


50 Gramercy Park North: 17 floors


92 Warren Street: 12 floors


The other buildings are trashi, its my opinion, sorry.

I think those architectures are destroying the city of new york, the history, the identity and the future of the city.

Specialy the identity.

Ist a shame how they are transforming New York in a plastic city like Miami or Panami in the architect point of view.
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Old September 3rd, 2008, 04:28 PM   #1455
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Originally Posted by tronred View Post
The relevants new buildings that i see on this topic for new york (and for me) are this…

New York Marriott at the Brooklyn Bridge Expansion: 23 floors - 240 feet



The Saya (22 East 23rd Street): 51 floors - 617 feet



The Brompton (200 East 86th Street): 20 floors - 210 feet



200 Eleventh Avenue: 20 floors (THE MOST BEAUTIFULL IN YEARS!!!, and is soooo new york)




210 West 91st Street: 25 floors


New York Times Tower: 52 floors - 1,046 feet


50 Gramercy Park North: 17 floors


92 Warren Street: 12 floors


The other buildings are trashi, its my opinion, sorry.

I think those architectures are destroying the city of new york, the history, the identity and the future of the city.

Specialy the identity.

Ist a shame how they are transforming New York in a plastic city like Miami or Panami in the architect point of view.
I agree with you Ny was awesome in 30's and now they destroying historical places
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Old September 3rd, 2008, 04:30 PM   #1456
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arghhh why do you repost all the pictures that are just ONE post over your comment?
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Old September 7th, 2008, 09:47 PM   #1457
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It happens so often these days in the international forums... very annoying...

But very good news that Koolhaas in finally doing a tower on Manhattan! I hope he'll do more, he's really off now creating masterpiece after masterpiece around the world...
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Old September 8th, 2008, 11:46 AM   #1458
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The historic Coney Island amusement park, Astroland, is ending a 46-year run today as it closes up shop for the summer -- and for good.

Co-Owner Carol Hill Albert says she was unable to work out a lease extension with developer Thor Equities, and that she has no choice but to shut down.

Thor says its disappointed with the decision to close the park, but that's little consultation to the Brooklynites and advocates who oppose the major development plan for the beachfront area.

"It's just a damn shame that the City of New York and the developers who bought the property on Coney Island can't do something to preserve the heritage and the legacy of what this place was and the way we want it to be," said Brooklyn Borough Historian Ron Schweiger.

For many New Yorkers, Astroland is synonymous with their childhoods.

"We come here as much as possible and I feel like they're tearing down my whole childhood, my whole life, my legacy," said long-time area resident Terry Rosenzweig. "Everything I have is here. That's why I'm trying to capture everything I can – my last moments of my life growing up here on Coney Island today."

Even though Astroland is closing, fans of the Cyclone and the Wonder Wheel shouldn't worry.

Both of those rides are covered by separate leases and are expected to reopen next year.

http://www.ny1.com/content/top_stori...d/Default.aspx
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Old September 14th, 2008, 12:56 PM   #1459
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Bird's Nest architects design N.Y. high-rise

NEW YORK - The Swiss architects of the iconic Bird's Nest stadium at the Beijing Olympics are bringing their innovative style to New York City with a translucent glass skyscraper designed to look like houses stacked in the sky.

Architects Jacques Herzog and Pierre de Meuron's $650 million, 57-story condominium featuring dramatic, cantilevered terraces is slated to begin going up in mid-October in lower Manhattan.

The architects liken their design to "houses stacked in the sky," with each level staggered progressively with different-sized boxes arranged at varying angles to create unique floor plans for each of the 145 apartments.

They said the tower reinvents the classic American skyscraper "as a lacy, pixilated Rubik's Cube." Its concealed framing results in a nearly all-glass structure with cityscape views from virtually every angle.

Herzog said the firm uses "well-known forms and materials in a new way so that they become alive again," just like Andy Warhol "used common pop images to say something new."

The building will feature a massive stainless steel sculpture by Anish Kapoor that will be "playfully squished" into the tower's base as homage to the city's culture, said developer Izak Senbahar of Alexico Group.

It will be the first permanent public artwork in New York City for Kapoor, best known for his enigmatic sculptural forms including "Sky Mirror," a temporary installation at Rockefeller Center, and "Cloud Gate" in Chicago's Millennium Park.

Senbahar said he commissioned Kapoor to create the balloon-shaped form as a permanent site-specific work because "great art and architecture are essential parts of everyday life." The sculpture also articulates the architects' vision of blending the indoors and outdoors.

The building will have an expansive 18-foot-high black granite lobby, a 75-foot pool, outdoor sun deck, library lounge, screening room and fitness center.

The apartments will be offered for $3.5 million to $33 million. The tower is slated to open in 2010.

Herzog & de Meuron is currently redesigning the Tate Modern in London. The twisted silver beams of its $450 million Bird's Nest stadium became one of the most enduring images of the Olympics.

http://www.msnbc.msn.com/id/26689139/
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Old September 14th, 2008, 08:28 PM   #1460
krull
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And the city just keeps on booming.
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