OOZcollections :: real estate and design

November 5, 2009

Fairmont Bab Al Bahr, Abu Dhabi, UAE

Filed under: Architecture, Design, Hotels and Resorts, Real Estate — Vivian Chen @ 1:36 AM
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I was first introduced to the world of Dubai after seeing top professional tennis players dueling out at an exhibition on top of the seven-star hotel, Burj Al Arab. What’s interesting was the view from the top and the fact that each player were hitting against each other with each from different surfaces on the different ends of the court.

The next great memory I have of Dubai was from a book I picked up at the bookstore few years ago. I started reading the business thriller and finished it within 3 days. This is rare for someone who hasn’t been an avid reader of anything until the last year of college. (Now I read constantly…The Economist, WSJ, Foreign Policy, Malcom Gladwell, etc.) The book was Ben Mezrich’s  RIGGED – the true story of an Ivy League kid who changed the world of oil, from Wall Street to Dubai.

Since then, I have heard, seen, and read many aspects of this vastly emerging region. As a business student, there is no doubt that Dubai is part of the curriculum. With the way this world is spinning, every corner of the globe has to be covered.

Tonight I spent hours sitting as a member of the audience of several business & investment presentations/proposals in international finance. Dubai was one of the focused regions. It is predicted to be the next important financial and business center of the world, joining New York, London, and Tokyo. Its free zones and business or investment incentives are highly favorable for foreign investors. Although Abu Dhabi is a lesser known city in the UAE than Dubai, it is equally important and just as significant with strong growth opportunities. Just take a look at the grandeur and the scale of the Fairont Bab Al Bahr and its presence in the region. The designs are refreshing and the architecture is bold. The location is carefully selected, truly a desert oasis.

Source: hotelsmag.com

http://www.hotelsmag.com/article/CA6700338.html

Fairmont Bab Al Bahr
– Hotels, 10/5/2009 1:49:00 PM
Fairmont Bab Al Bahr, meaning “Gateway to the Sea,” is Fairmont’s first property to open in the capital of the UAE, on the Abu Dhabi Creek. Positioned at the mainland gateway of the city, the hotel sits directly on the beachfront, offering guests the best of both urban life and beach experience.

Located in ‘new’ Abu Dhabi, an area destined to become one of the most exciting mixed-use developments in the city, the hotel benefits from spectacular views of the Sheikh Zayed Grand Mosque, with easy access to Abu Dhabi City Centre and Corniche, and is in close proximity to Abu Dhabi International Airport.

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Fairmont Bab Al Bahr boasts 369 guestrooms, a variety of world-class restaurants, 27,000 sq. ft. of function space, a private sandy beachfront, a Willow Stream Spa and two outdoor pools. Fairmont Bab Al Bahr includes the first Marco Pierre White Steakhouse & Grill outside of the UK, serving the choicest cuts of beef and one of the largest selections of wine in the city. Frankie’s Italian Restaurant and Bar has been created by renowned UK Chef White and famed jockey Frankie Dettori.

The new properties all offer Fairmont Gold, the brand’s exclusive lifestyle offering featuring warm and personalized service with amenities such as a private reception desk and a comfortable guest lounge, where guests may enjoy an honor bar and cocktail hour canapés, as well as a complimentary deluxe continental breakfast.

Fairmont will continue on its Silk Road journey in 2010 with new properties planned for Makkah, Jaipur and the Fairmont Peace Hotel, a Shanghai landmark for over a century. Fairmont currently has more than 20 new properties in development, including London’s The Savoy, which will re-open within the next year following an extensive restoration program.

Click here for the full slideshow of Fairmont Bab al Bahr

October 4, 2009

Inhabitat >> Beautiful Atherton Residence Sustainably Connects With Nature

Filed under: Architecture, Design, Real Estate — Vivian Chen @ 12:28 PM
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Surround yourself in nature and forget the frustrations of the overcrowdedness and the stress of urban life.

Source: inhabitat.com

http://www.inhabitat.com/2009/10/02/beautiful-atherton-residence-sustainably-connects-with-nature/

denim insulation, residence, fly ash, fly ash concrete, solar panels, photovoltaic, solar hot water, radiant heating, bay area home, residence

It’s always a pleasure to see a stunning home with sustainable features, but isn’t pretentious about it. This beautiful residence in Atherton in the Bay Area is such a house – gorgeous, with an obvious connection to the outdoors and sustainable features that could go undetected by the casual observer’s eye. Featuring many green design elements, this home designed by SF-based Turnbull Griffin Haesloop Architects, includes solar power, environmentally friendly materials and passive heating and cooling.


denim insulation, residence, fly ash, fly ash concrete, solar panels, photovoltaic, solar hot water, radient heating, bay area home, residence

The original 1950s Bay Area home on the lot was torn down due to structural problems. In its place, this structure was erected around the site’s existing pond. To take advantage of the scenic views of water, the home was built as four buildings, the main house, study, pool house and garage, that all come right up against the water’s edge. Large sliding glass doors from the buildings open up towards the pond, providing an immediate connection with nature as well as a good dose of natural ventilation.

Beyond the stunning exteriors and clean and simple interior, the home is greener than it appears. On the roof, solar photovoltaic panels and a solar hot water system give the home some green cred. An effective combination of stone floors and a radiant floor heating system provide heating during those cooler months in the Bay Area. Additionally, the home utilizes high fly-ash concrete, formaldehyde-free casework and denim insulation.  And despite the warm temperatures during the summer on the South part of the peninsula, the home has no air conditioning and relies on natural ventilation from operable windows and doors, shading from the large roof overhangs and the versatile stone floors to help keep things cool.

Even though the home is built just outside of San Francisco, it design helps it feel as though it were in a secluded location — providing a relaxing getaway for both the owners and their guests. With eco features and an interior that opens up and blurs the boundaries between indoor and outdoor, this beautiful home breezily achieves a sustainable elegance that is simply stated and integrated with sophistication.

+ Turnbull Griffin Haesloop Architects

September 15, 2009

Shrinking U.S. Hotel Development Pipeline

Filed under: Hotels and Resorts, Real Estate — Vivian Chen @ 1:24 PM
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Face it, we’re in the depression. It is a word many people would prefer to avoid saying because that would scare away even more people. If you tell your soldiers that they are losing the war, they would dissipate. If the word “depression” is being freely thrown around by experts, society would be in hysteria. It’s a matter of confidence. Even when you don’t have it, sometimes you should fake it until it becomes reality.

There is a declining rate in the developments in the hotel industry, but I believe that those who survive through it will prosper even more when we recover from this depression. The word now is perseverance.

Source: hotelsmag.com

http://www.hotelsmag.com/article/CA6696850.html?industryid=47562

U.S. Pipeline Shrinks 2.5% Since July

– Hotels, 9/15/2009 9:55:00 AM

The total active U.S. hotel development pipeline includes 4,384 projects with 475,521 rooms, according to the August 2009 STR/TWR/Dodge Construction Pipeline Report. This represents a 2.5% decrease in the number of rooms in the total active pipeline compared to July and a 27.9%  decrease compared to August 2008.

The total active pipeline data includes projects in the In Construction, Final Planning and Planning stages, but does not include projects in the Pre-Planning stage.

“The U.S. development pipeline continues the steady slowing we’ve seen since 2007,” commented Duane Vinson, vice president at STR. “All regions of the U.S. are experiencing dramatic decreases in pipeline activity. Slowing supply growth should positively impact industry fundamentals moving into 2010. Hopefully with improved economic growth, demand will firm, resulting in stronger occupancies and better average rate movement across the industry.”

Each U.S. region reported large year-over-year decreases in the number of rooms in the In-Construction phase. The East South Central region experienced the steepest drop at 56.6 percent to 6,466 rooms. The New England region also reported a considerable decrease in rooms in the In-Construction phase, falling 46.5 percent to 2,666 rooms.

The South Atlantic (30,764 rooms in the In-Construction phase) and the West South Central (28,198 rooms) regions account for more than 45 percent of the total U.S. rooms in the In-Construction phase.

All nine of the U.S. geographic regions experienced significant declines in the number of rooms in the total active pipeline in year-over-year comparisons. The East North Central region posted the largest drop, decreasing 36.8 percent to 37,172 rooms. The Mountain region fell from 85,259 rooms in the total active pipeline in August 2008 to 55,106 rooms in August 2009, resulting in a 35.4-percent decrease. Two other regions experienced decreases in rooms in the total active pipeline of more than 30 percent: the East South Central region (-33.8 percent to 30,263 rooms) and South Atlantic region (-31.2 percent to 115,497 rooms). The New England region reported the smallest decrease, falling 16.9 percent to 17,976 rooms.

InterContinental Hotels Group & Thai Chareon Corp. Multi-Brand Deal in Asia Pacific

I may have a biased preference towards IHG and its brands because of my association with the company, but I believe that the IHG brand portfolio and its size is at the top of the industry for good reasons.

Source: hotelsmag.com

http://www.hotelsmag.com/article/CA6696658.html?industryid=47562

IHG Signs Multi-Brand Deal With TCC

– Hotels, 9/14/2009 10:39:00 AM

IHG (InterContinental Hotels Group) announces the signing of a deal with leading Thai conglomerate TCC (Thai Chareon Corp.) to convert and rebrand four existing hotels, which adds nearly 1,500 rooms to IHG’s Asia Pacific portfolio.

The hotels are located in Australia, China and Japan, and will carry the InterContinental® Hotels & Resorts, Crowne Plaza® Hotels & Resorts and Holiday Inn® Hotels and Resorts brands.

“We are confident that the four properties added to our portfolio will do well operating under the various IHG brands. We look to IHG’s management experience, brand portfolio and commitment to the hospitality industry in Asia Pacific to ensure the success of our partnership,” says Khun Charoen Sirivadhanabhakdi, founder and chairman of TCC.

TCC’s businesses cover various sectors including beverages, property, industrial trading & consumer products and agro-related business as well as insurance and leasing. Presently, TCC is the owner of InterContinental Singapore. With this new agreement, TCC will have a total of five IHG properties in its portfolio.

Additionally, TCC and IHG will finalize a strategic cooperation agreement for future management opportunities in Asia Pacific.

As TCC moves to fortify its property business, this alliance will see IHG working closely with TCC on more hotel assets in Asia Pacific region.

“We are delighted to win TCC’s confidence in our brands. This partnership allows us to bring to bear the strength and scale of IHG brand and systems to drive operational performance of the hotels and deliver returns,” says Jan Smits, managing director, IHG Asia Australasia.

The four hotels in the agreement comprise:

1.      InterContinental Adelaide – conversion from the Hyatt Adelaide. This 367-room property is ideally located in the Adelaide Central Business District. It is adjacent to the Adelaide Convention Center, the Adelaide Casino and the Adelaide Festival Centre. Refurbishment works are planned for the property.

2.      ANA Crowne Plaza Kobe – currently a franchised Crowne Plaza hotel, the 592-room property will join IHG’s Japan managed hotel portfolio.

3.      Crowne Plaza Kunming City Center – conversion from the current Banks Hotel. The 285-room property is 15 minutes away from the Kunming Airport and enjoys a city-center location. An extensive scope of works is planned for the property.

4.      Holiday Inn Kunming City Center – conversion from the current Sakura Kunming Hotel. This property has 235 rooms and will undergo major works prior to branding as a Holiday Inn. The hotel is located in the city’s financial and commercial district.

August 31, 2009

The Shard – Renzo Piano – London

Filed under: Architecture, Design, LUXURY/SERVICES, PLACES, Real Estate — Vivian Chen @ 9:29 AM
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This is going to be amazing!

source: archdaily.com

http://www.archdaily.com/33494/the-shard-renzo-piano/#more-33494

The Shard/Renzo Piano 

by Karen Cilento (August 29, 2009)

 

 

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Renzo Piano’s latest project, the Shard, has recently moved to the construction phase.  The 1,016 ft high skyscraper will be the tallest building in Western Europe and will provide amazing views of London.  The mixed use tower, complete with offices, apartments, a hotel and spa, retail areas, restaurants and a 15-storey public viewing gallery, will sit adjacent to London Bridge station as part of a new development called London Bridge Quarter.  Replacing the 1970’s Southwark Tower on Bridge Street, the Shard is a welcomed addition to the London skyline, and its central location near major transportation nodes will play a key role in allowing London to expand.

More about the tower after the break.

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Known for his elegant, light and detail oriented building, Piano’s Shard consists of several glass facets that incline inwards but do not meet at the top.  Inspired by the towering church spires and masts of ships that once anchored on the Thames, the Shard’s form was generated by the irregular site plan and open to the sky to allow the building to breath naturally.

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Planned as a “vertical city” to address the city’s growing population and need to maximize space, the Shard’s program varies to provide a functional central structure for London. The ground level will include a public piazza with restaurants and cafes, in addition to areas for art installations.  The 50,000 sqm of office spaces include naturally ventilated winter gardens while the 195 hotel rooms and exclusive apartments located on the upper floors showcase beautiful views.  While the Shard offers luxurious spaces sure to be coveted by companies and residents, the building also caters to the public with  viewing platforms on floors 68-72.   Accessed directly from an entrance on the ground level, these viewing galleries are expected to attract over half a million visitors each year.

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The mixed program is attractive to many and will allow the Shard to help London’s future development.  The Shard is due for completion in 2012.

As seen on Inhabitat.

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http://www.archdaily.com/33494/the-shard-renzo-piano/#more-33494

 

August 17, 2009

Cutting-Edge Hospitality Designs

Source: hdmag.com (hospitality design)

http://www.hdmag.com/hospitalitydesign/content_display/projects/e3i0d287909ecf291eb1aa42ff1bfdd58c4

What’s the Big Idea?

Feb 11, 2009 

By Rachel Long 

A hotel fashioned from an oil rig. One that delivers a truly urban experience. Another that achieves complete energy independence. And a fourth that is literally for the birds. All of these concepts took honors in the second annual Radical Innovation in Hospitality Awards, sponsored by the John Hardy Group and Hospitality Design (HD) magazine.

The finalists were selected from more than 40 entrants by an industry jury of John Hardy, president/CEO, the John Hardy Group; Claude Amar, principal, the John Hardy Group; Michael Medzigian, founding partner, Watermark Capital Partners; Pamela Parsons, senior vice president design and construction, Host Hotels & Resorts; Simon Turner, president, global development, Starwood Hotels & Resorts Worldwide; and James Woods, principal, Keen Partners, LLC. 

First prize, which included $10,000 in addition to bragging rights, was ultimately voted on by Hospitality Design Boutique Exposition & Conference (HD Boutique) attendees in Miami and went to Morris Architects for Oil Rig Platform Resort & Spa. Other finalist concepts included e | merse by WATG; the Wind Tower by Richard Moreta Architecture and MRA Design; Extreme Birding by Morris Architects; and a special prize, Pagoda by Danielle Meyer, a student (at the time) at the Art Institute of Colorado (she is now at Denver-based firm Box Studios).

John Hardy, who co-founded the competition in 2007 with Michelle Finn, vice president of Hospitality Design Group, praised the entrants for their creativity and futuristic concepts. “Last year’s competition was great, and this was a step forward. More people understand what we are trying to accomplish. One of our judges, Simon Turner, summed it up by saying, ‘It’s really similar to what you would see in a fashion show in Paris. You might not buy that dress on the runway, but it affects what happens down the line.’”

rig hotelThe Rig Hotel 
The quantity of abandoned rigs (4,000 to be decommissioned within the next century off U.S. shores) begs ideas for reinvention. Consequently, the Houston office of Morris Architects set out to create a self-sufficient, eco-friendly, high-end hotel experience in its own backyard—the Gulf of Mexico.

“Think of the sheer numbers. What do you do with this dead technology? That’s the sustainable proposition,” says Douglas Oliver, the firm’s director of design. Reclaiming rigs eliminates razing them (current practice), and retains their lush aquatic habitats (coral and sea life averaging 20,000 fish per rig). As hotels, they offer a rare opportunity to go beyond historic form. “Thematics don’t have to express an architectural past, but can embrace new technologies,” he says.

“The Rig is much like the ICEHOTEL. It’s that kind of unique experience. We were trying to create a hospitality experience that is unique and fully rounded, and interesting enough that people are interested in doing it. The work with the Rig is not to make it a one-liner, but to prove it as a serious proposition—really investigating it,” Oliver says. That included the use of alternative energy sources, and novel design around a core of water, which allows light to penetrate the rig’s center.

As for entering the competition (and placing two in the top four), Oliver recounts, “We were just slammed because of project commitments. The majority of this was on our own time. It gave us a really good way to stretch. It was a benefit to our mainstream hospitality work that we could work conceptually at this level.”

What led to thinking differently? According to Oliver, “When you really use sustainability as a catalyst, as part of the DNA of the architecture, it leads to innovation.”

emersee | merse 
Forget themed restaurants, exotic spas, and luxurious pools. The radical innovation team from WATG acknowledges that what works for traditional guests may not always entice Generation X and Y travelers. Enter e | merse Network, designed to deliver an authentic urban experience by meshing a hotel with its surroundings. 

According to Matt Page, designer at WATG, the idea emerged from a thinktank comprised of the firm’s Generation X and Y employees in the Irvine, California, office. The group explored their preferences in travel experiences to create the perfect hotel concept. “We wanted to experience a city by having the city become our hotel,” he says. Purposely limiting internal hotel amenities makes way for links to urban businesses, with interactive maps (thanks to personal GPS [global positioning system] technology) to help guests explore their site and activity preferences. 

Using a guest profile, completed before arrival, the hotel can help travelers find local businesses, restaurants, and clubs to fit their needs; network with other guests; and provide feedback on places they’ve visited and activities they’ve experienced. All e | merse locations will be linked to allow users ease of transfer, and the brand can even facilitate baggage being moved from one location to another. 

The multi-faceted nature of e | merse embraces several critical ideas, says Raj Chandnani, WATG vice president, strategy. Among them are urban renewal and revitalization, technology, and sustainable design and adaptive reuse in a scalable concept.

wind towerThe Wind Tower 
In what the architect and interior designer call “a new icon,” the Wind Tower aims to achieve energy independence (even adding to the grid), create eco diversity (in layered vegetation and water catch-basins), and contributing culturally (the building facade is a chromatic clock).

Three areas mattered most to Richard Moreta, principal of his Miami practice, for architecture: photovoltaics, aeolic energy, and water retention. His search for aeolic (or wind) efficiency hinged on the Venturi phenomenon, essentially the acceleration of a mass of air between two volumes. As a result, what was originally set to be two buildings became one, to take full advantage of the effect.

The Wind Tower’s aerodynamic lines promote catching rain; the south facade is dedicated to solar-energy absorption; an e-glass (e for emissivity) facade helps stop the penetration of ultra-violet and infrared rays, aiming to curb heat gain/loss.

John Naranjo of MRA Design in Miami, who collaborated with Moreta on the project, traces concept inspiration and building shape to a tropical flower. “We approached it like nature; it maintains life through absorbing sun, water, and wind,” he says. “Predominant is the wind. Physically, we wanted to create aspects that are seen working. Guests will feel good about the experience.”

Says Naranjo, “You cannot have technological and radical innovation without thinking of sustainability. It pays off, but it’s going to cost more up front. Economically, I think it’s going to be the future.”

extreme birdingExtreme Birding 
With the tagline “It’s all about the view,” Extreme Birding promotes birdwatching as a concept that can be sensory and exciting—and perfect for anybody interested in a luxurious, natural retreat experience.

Morris Architects conjured two birding hotels, one on a coastal cliff in Alaska, the other in a forest canopy in Costa Rica, to test how a birding retreat translates for environmental extremes (the former cold and dry, the latter hot and humid). Viewports, patios, or treehouses offer supreme views; a “habitat merge” allows birds to circulate laterally and vertically throughout the hotels. Guests can track bird information and migratory patterns on their in-room, video touch-screen systems.

Morris Architects’ Oliver notes, “I like the subtlety of Extreme Birding. As a concept, it sneaks up on you. Something as passive as bird-watching, and almost banal, ends up being this exciting and engaging thing.”

www.radicalinnovationinhospitality.com
 

http://www.hdmag.com/hospitalitydesign/content_display/projects/e3i0d287909ecf291eb1aa42ff1bfdd58c4

June 28, 2009

Filed under: Design, Green Development, Lifestyle, Real Estate — Vivian Chen @ 10:56 PM
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http://realestate.about.com/od/realestateinvesting/qt/urban_parkland.htm

Trend Toward More Urban Green Space and Real Estate Investing

Reduced Supply with Increased Demand is the Story in Many Areas

By James Kimmons, About.com

The news is full of stories of land conversions in urban areas. Old land fills, government facilities and other large tracts are desired by developers, but local government is increasingly grabbing it for the creation of green spaces, parks and other community use.

With environmental concerns growing, groups pushing for more green areas are growing as well. After all, who would argue with a new park near the city center, with trees, lakes and all those outdoor recreational activities we value? Perhaps a real estate developer would argue otherwise, but the pressures against them are huge.

The influence of “supply versus demand” is in play in these situations as regards real estate values. It’s more than just the fact that there is less land available on which to build.

  • Values of property around these park areas will rise at an above normal pace.
  • Improving the quality of life in an urban area can stimulate significant growth and yet more development.

Real estate investors will benefit by keeping abreast of these type of land conversions. It’s not about trying to buy into a quick profit, but more a long term approach to buying into area growth and appreciation.

http://realestate.about.com/od/realestateinvesting/qt/urban_parkland.htm

May 16, 2009

The Lesson of Value

Filed under: Real Estate — Vivian Chen @ 1:00 PM
Tags: ,

source: http://reiclub.com/articles/concepts-of-value

 

Concepts of Value
by Nancy Chadwick

All products, services and things have value, but the value is not static. It changes when events occur that increase or decrease the product’s desirability. In addition, the value of the same product, service or thing isn’t the same to everybody. Different people have different needs and wants at different times. Value is based on need and the ability of the product to satisfy that need. Real estate is no different from other commodities. Every property has value, and that value goes up or down over time. Property derives value from its capacity to be used. For value to increase, there must be a demand that exceeds current or projected supply, and the property must be capable of satisfying that need either at the present time or in the future. For example, only 6 home sites in a builder’s 30-home new construction community back up to property maintained by the municipality as permanent open space. Superior location in limited supply increases demand for these home sites and allows the builder to charge hefty lot premiums for them.

Types of Property Value
It’s virtually impossible to come up with an all-encompassing definition of “value” because its meaning varies widely depending on who’s defining it. There are different types and sub-types of value – for instance, insurance, replacement, reproduction, rehab (before and after), wholesale and retail value. The criteria used to measure these kinds of value are different.

Market Value and Highest and Best Use
Real estate appraisers define “market value” as the most probable price at which a property will sell in a competitive and open market where both buyer and seller are acting knowledgeably and without duress or abnormal pressures. With the sales comparison approach, appraisers identify properties that have recently sold that are similar to the subject property in several respects (e.g., use, type, location, size, condition). Estimating value is at best an inexact science because buyers and sellers often make decisions that can’t be explained or rationalized. Consequently, determining value isn’t a cut and dried process accomplished merely by applying objective criteria. The “highest and best use” used by appraisers in arriving at an opinion of value is the most profitable use that is legal, reasonably probable, supported by demand, physically possible and economically feasible. The potential use must meet all of these criteria.

“Warts and All” Value
Present or “as is where is” value is the value of the property as it currently exists. This value assumes that no change will occur. It’s the value that is arrived at after taking into account the property’s current uses, conditions and physical or other limitations, both known and unknown, and is usually discounted to reflect the property’s “warts.” If you bought a property in its as-is condition, you’d be taking it as you found it. You wouldn’t be making your purchase contingent on satisfactory results of inspections or the seller making any repairs.

“What If” Value
Future value is based on the assumption that at some point in time there will be some change to how or if the property can be used. This value involves anticipation and is the one on which developers generally base their projections. They ask themselves: what can I do to this property that will increase its value. This might be getting some type of municipal approval (like subdivision or zoning) or it could involve a physical change, such as modifying or demolishing an existing structure or converting it so it can be used in a different and more profitable way. Future value is not guaranteed. The event or change may be probable but it won’t become reality until it actually occurs.

Perceived Value
People’s decisions are based in part on their perceptions and the reality becomes whatever they believe it to be. Perceptions as well as facts define value because perception is directly tied to demand. Increased demand for a property results from the perception that the property is desirable – e.g., property in a certain school district that is considered top-notch. Stigmatized properties have reduced demand. For instance, properties located next to power lines. The reality may be that the power lines don’t present health hazards, but until people believe that and their perception changes, the properties will continue to be viewed as undesirable and their values will suffer. 

Now vs. Later Value
Property values do not necessarily increase over time, and the passage of time can actually reduce and not increase value. For example, the owner of 20 AC of land throws his fishing line in the water and puts an inflated price tag on the property. Nobody “bites.” Months go by and the municipality declares a moratorium on issuing sewer permits, thus prohibiting new connections until the existing plant is expanded or another one is built. The owner here would have 3 options: 

1. take the property off the market until the moratorium ends;
2. sign an agreement contingent on the buyer being able to subdivide and purchase sewer permits; or
3. sign a non-contingent agreement selling the property in its as-is state.

Site yield and sale price would be maximized with Option 2. If the owner doesn’t want to wait for the moratorium to end (Option 3), buyers would likely discount the purchase price to compensate for increased risk and holding period. If the owner weren’t willing to discount the price, the property might not sell at all unless there were special circumstances, such as a very strong seller’s market, a unique property or heightened demand.

Future value is greater than present value if changing its as-is state results in a broader market for the property. A municipality targets an area in its comprehensive or master plan for future growth, zones it accordingly and plans to extend public services to facilitate development. Investors scramble to control parcels suitable for development and land values spike. Some of these parcels are subdivided and communities of new homes emerge over time. These sell for higher prices than the existing homes. The older homes also increase in value because: (1) the higher prices of the new homes tend to raise the overall value of the neighborhood; and (2) the market for the resale homes now includes more buyers–those, for instance, who only want to purchase properties that have public utilities.

Value is always relative to use. The price that a buyer is willing to pay for a property is directly proportionate to the ability of the property to satisfy that buyer’s needs and wants. The greater the number or categories of buyers who can use the property, the greater the property’s inherent value. The real value of any property is ultimately the price that a buyer is willing to pay for it in exchange for the terms and conditions agreed to by the seller. When buying property, think like a seller because some day you will be one. Don’t over improve a property relative to the value of its surroundings. 

May 15, 2009

World Trade Center Towers

Filed under: Design, Real Estate — Vivian Chen @ 2:29 PM

source: http://www.arkitectum.com/architect-jobs-forum/album_page.php?pic_id=160

World Trade Center Towers
World Trade Center Towers
Posted by: arkitectum
Image Title: World Trade Center Towers
Image Description: Foster + Partners
www.fosterandpartners.com
Posted: 05/12/09 02:25pm
Views: 10
Rating: not rated
Comments: 0

March 15, 2009

Urban Entertainment Architect: Zark Fatah

source: http://www.condominiums.com/condomonde/condomonde0/condomonde40.htm

The Don Juan Condo Code
Si Si Penaloza talks to Nightlife Bon Vivant Zark Fatah on his Fabulous New East End Digs
   
  Toronto’s come a long way in variations on the “ultimate bachelor pad” theme. I remember when the terms “utilitarian, vermin-free, furnished in Early Ikea” used to pass for progressive bachelor living. These days, with singles playing the field longer than ever, it pays to invest in sophisticated style – even if it means going solo on that high-end sectional. 
Of course, one Toronto bachelor has taken this investment in personal style to a whole new level. Enter Zark Fatah, social entrepreneur and nightlife architect extraordinaire, whose name is synonymous with all things hip and hot.

Ten years ago, he was a bartender at clubs like Fluid and the Guvernment. Today, his company, Zark Inc. spearheads six businesses. And of course, there’s the fact that he’s on too many most eligible and best-dressed lists to mention. 
With five of his six Zarkinc businesses on or near King St. W. – the Century Room nightclub, Atelier, restaurants Blowfish and Doku 15 and the Hammam spa, it’s no surprise Fatah grew wary of living where he worked.

The ICON condo development on Wellington, his first Toronto real estate acquisition, put him right in the middle of the action. With his businesses thriving and firmly entrenched in the downtown scene, the impresario of King West looked east for a sanctuary to call home. Of course, his must not be a mere dwelling. His must be the signature of a lifestyle itself.


It doesn’t take long to realize Fatah isn’t your run-of-the-mill property-buyer. Upon his first viewing of his current home at The Broadview Lofts, there was a considerable Gulp Factor – a kind of gulp-in-your-throat “I Have to Have It” sort of deal. He recalls, “I walked in and was blown away by the expanse of open space and spectacular views. It was the kind of space where I could really import the best creative possible. And the fact that I could see panoramic skylines sealed the deal.” The view, as any man on a meteoric rise can tell you, is everything. Fatah explains further, “I had seen about a dozen loft spaces all over the city before seeing this one; I knew as soon as I saw it that I could make any ambitious design idea work here as it’s such an open concept, raw space.”


As founder of entertainment empire Zarkinc and Prototype Design Lab, “a design-and-build company” in Mississauga, Fatah has made it his business to set social and design trends in the city, importing the best experiences of his travels to the heart of Toronto. And, as a man who likes to have a hand in everything, his own company, Prototype Design Lab, produced a lot of the fixtures and fittings for his marquee properties, including the signature metal steam “spout” of Hammam’s gorgeous steam room.

 

  CONDO MONDE ZARK LOFT 

Featuring soaring 21-foot ceilings, a mezzanine that feels like a true second floor, floor to ceiling warehouse style windows, two south facing terraces, two full bathrooms – this pad has James Bond written all over it. At 1,424 square feet, Fatah definitely had room to flex his design muscles. The first thing he decided to do was drop a Versailles-sized, gleaming black glass chandelier from the altitudinous ceiling. Seriously. When this man dresses to impress, it doesn’t stop at mere shoulder pads. The drama of the stark black glass against a towering, textured Baroque ivory and vanilla wall treatment creates the key signatures in the decadent dining room. 
In choosing a dining room set, Fatah went for a Valentino-Meets-Gothic Cowboy kind of thing, and to great effect I might add. Heavy black empire chairs get the royal treatment with sumptuous fabric and silver rodeo studs. And, if conversation ever flags around that big dining table, the two storey panoramic views provide endless talking points. “It’s a different energy when you wake up and you see water and the skyline,” Fatah elaborates. “It just opens your mind.”
Fatah designed the space to be functional and purposeful without needless embellishment. His main attraction to modern and minimalist décor? Large, spare spaces lend themselves to entertaining – an activity that lies at the heart of the bachelor lifestyle. Guests to his home no doubt enjoy the HDTV, as Fatah invested in that most ubiquitous electronic accoutrements of bachelorhood: the flat screen plasma television. Although Fatah’s looks gigantic to me, rivaling the size of an exit sign on the Gardiner Expressway.


Nowadays, fashionable bachelors invest in the same consumer culture that has historically been the mainstay of women. Men cultivate their homes and spending money on them in ways that only women used to. From the way they customize floor plans to the way they accessorize, their choices reveal a lot about their ideals of masculinity. 
With the Broadview Lofts, The Sorbara Group caters to the architecturally educated consumer, those who desire just the right balance of history and modernity. Heritage savvy buyers won over by tongue & groove wood ceilings were equally wowed by the gorgeous exposed brick walls. The builder retained much of the building’s original structure and materials, an approach that appealed to Fatah. Active in real estate development, investment and management, The Sorbara Group has been involved in the GTA’s most successful residential communities including The Village of Brooklin, Sherwood Village, Britannia Meadows and Bankside in Mississauga, as well as Tanglewood in Oakville. No stranger to Toronto’s east side, the company’s landmark Corktown project, the Brewery Loft on Sumach Street, is now regarded as a Toronto classic.


Collectively, The Broadview Lofts community enjoys a beautifully landscaped central square, underground parking, a party room and roof deck patio. The builders also engaged the contemporary palate with their penthouses, adding two floors of brand new lofts to their original, turn-of-the-century Rexall drug warehouse, for those like Fatah, who yearn for a truly contemporary space.


Loft living is all about the city and its myriad sights and sounds – endless choices and possibilities. Fatah loves that his loft is actually part of three vibrant neighbourhoods: Queen & Broadview, Leslieville and The Studio District. Each nurturing its own vibrant and unique character. Hip cafés and restaurants. Funky shopping everywhere you turn, all within walking distance. Not to mention the close proximity to Queen Street and Toronto’s major artery, the Don Valley Parkway.


A bachelor pad is a cultural icon. It has earned mythic status. And it has essential ingredients. The quintessential pad is masculine, minimalist and, in the best-case scenario, cleaned by a maid. There is leather, hard exotic wood and fine wine. The views are befitting of a emerging master of the universe, but one touch remote can kill the lights, lower the shades and turn on the David Bowie before a girl knows what hit her.
So is there a downside to living so high? When I ask the question, Fatah stifles a simultaneous laugh and a blush. “You wouldn’t think so, but there is,” he confides. “Girls seem to get really attached to the idea of not necessarily leaving. I brought a girl back here once who, as soon as she walked in the door asked, ‘So when am I moving in?’” Indeed, this may seem like the Hollywood version of a bachelor pad, but it’s just a little place he likes to call home. 

THE BROADVIEW LOFTS: 68 Broadview Ave., on the northwest corner of Broadview and Eastern Ave. 
Builder: The Sorbara Group. A six-storey building. The first five storeys will be a restored brick warehouse. A new five-storey extension will have a facade of steel and glass. 
Amenities: rooftop patio and large party/media room.

www.broadviewlofts.com

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