In the world of urban development, there is perhaps no more interesting case study than the recent building boom in the People’s Republic of China. Over the past decade, China has literally built hundreds of new cities, many of them springing up seemingly overnight. It has been a building frenzy unmatched in all of human… Continue Reading Chinese Ghost Cities: Planning Ahead for More Urbanization?
On October 29, 2012, Hurricane Sandy struck New York City. At the time, Manhattan had the largest collection of sustainably-designed buildings in the United States but still incurred $19 billion in storm-related damage. The juxtaposition of this poses the question, “How sustainable is a building that is not designed to be resilient?” Even the most… Continue Reading Is Building Resiliency More Important Than Sustainability?
In 2008 when county officials announced an ambitious plan to transform suburban Tysons into a vibrant, sustainable urban center, some local residents surely must have wondered whether it was a hoax. Located several miles west of downtown Washington and known as a major shopping hub, Tysons was filled with acres upon acres of parking lots… Continue Reading Tysons: On The Road to Urbanization
On the night of February 11, 2014, a 40 foot wide by 30 foot deep sink hole opened up below the floor of the National Corvette Museum in Bowling Green Kentucky swallowing eight cars. While most soil problems are not this dramatic, unforeseen site conditions are a major cause of development cost overruns and construction… Continue Reading What Lies Below: Understanding Unknown Subsurface Conditions
Location, Location, Location. This is an adage often used in the real-estate world. When it comes to leasing an office building or condo tower, location has value. Real Estate private equity firms, which are in the business of unlocking value, use this to their advantage by renaming assets. A prime example of this, is the… Continue Reading The Branding of Bryant Park
Three weeks ago, the 1.4 million square foot former home of American Motors sold at auction for a mere $500. Although, the auction was ultimately cancelled due to a tax dispute with the previous owner, this auction highlights the challenges and possible opportunities real estate in Detroit represents. Once known as the Paris of the Midwest,… Continue Reading Real Estate Opportunities in the Motor City?
Late last week, Congress passed a $625 million appropriations bill that will clear the way for the completion of the new Veterans Affairs (VA) hospital in Aurora, Colorado. The VA projected the original construction costs for the hospital at $605 million and anticipated that the hospital would open in 2015. The final construction cost for… Continue Reading A $1 Billion Budget Bust in Colorado
Commercial real estate construction is booming throughout the San Francisco Bay Area. From the mid-Market area, south to the Peninsula (San Mateo, Redwood City, and Santa Clara), and east to Oakland; commercial developers are building to satisfy the insatiable need for commercial space. The amount of new commercial square footage being added to the market… Continue Reading San Francisco’s Commercial Boom Boosting the Bay Area
As students across America shoulder their backpacks and say goodbye to summer vacations, a group of young men will be returning to their beloved school for what may be the last time. Collegiate School, founded in 1628, is the oldest school in America and has been operating out of the same facility on the Upper… Continue Reading New York Church Buys Historic School to Make Room for Multifamily Development
Steve Bloomfield, developer and co-founder at Bloomfield/Schon + Partners out of Cincinnati, Ohio will be addressing students in the Baker Program in Real Estate’s Distinguished Speaker Series on March 12th to share his experience developing projects for over 25 years. Bloomfield is currently in the process of developing a multifamily property in Ithaca, NY, and… Continue Reading Developer Steve Bloomfield Shares Project Experience with Students