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Economy: The Latest Architecture and News

25 Years of the Guggenheim Museum in Bilbao, Spain

The Guggenheim Museum in Bilbao is celebrating its 25th anniversary this October 2022. Set on the edge of the Nervión River in the Basque Country, Spain, Frank Gehry's Guggenheim boosted the city's economy with its astounding success and changed the museum's role in city development. Twenty-five years on, the Bilbao Effect continues to challenge assumptions about urban transformations and inspires the construction of iconic pieces of architecture that uplift cities' status, calling investors and visitors.

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How Does Global Inflation Impact the Design Profession?

Architecture, as a profession, is highly cyclical in nature. It ebbs and flows with the tides of economic conditions, and is especially hard hit during times of downturn. We’ve all heard stories or experienced it ourselves, or layoffs during the Great Financial Crisis in 2008, or even more recently the significant cutbacks architecture firms went through during the uncertainty of the COVID-19 pandemic. Projects went on hold and new business opportunities declined almost overnight. Now, two years later, firms are keeping a close watch on global supply chain issues and rising inflation rates, especially with increased pressure to meet the needs of a growing urban population. Will architecture be recession-proof as we enter a bear market? 

Towards a Virtual Architecture: The Winter House by Andrés Reisinger and Alba de la Fuente

The digitisation of architecture and design projects has been going on for some time now and has increased even more, largely due to the global pandemic. To hear talk of the metaverse, the NFT or the digital twins seems to be commonplace at this time, when the digital economy is booming and where architects and designers who seek to move from the physical world to the virtual world are beginning to proliferate. But will virtuality be the future of architectural visualisation?

Why Every 3D Designer / Architect Can Benefit From the Creator Economy in the Metaverse

Nike recently acquired RTFKT, a design studio that was founded in Jan 2020, and is known for its virtual “metaverse-ready sneakers and collectibles”. Metaverse land purchases are making headlines with multi-million dollar price tags. We’ve also seen mainstream adoption for NFT art this year and the sales are expected to surge to $17.7 billion by the end of 2021.

Beneath the hype and frenzy, we can spot a fundamental shift that unlocks a new creator economy. It provides the creators with direct access to the market, builds ongoing relationships with fans, and unites strangers in self-governed communities. In this article, we will discuss why every 3D designer/architect should embrace the Web 3.0 movement to adopt a new business logic and benefit from the creator economy in the metaverse?

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Carlos García Vázquez: "The Modern Urbanism Has Rediscovered Traditional Cities"

Three years ago, in the wake of the release of his book Theories and History of the Modern City ("Teorías e Historia de la Ciudad Contemporánea", 2016, Editorial Gustavo Gili), we sat down with the author, Carlos García Vázquez, to discuss this complex and "uncertain creature' that is the modern city, focusing on the three categories that define cities today: Metropolis, Megalopolis, and Metapolis.

Based on an analysis of those "who have traditionally led the way in the planning of spaces" (sociologists, historians, and architects), the book illustrates the social, economic, and political forces that, in service to their own agendas, drive the planning, transformation, exploitation, and development of cities. In 120 years, urban centers have transformed from places where "people died from the city" to bastions of personal development and economic prosperity; however, the question remains —have cities really triumphed?

"Yes", says García Vásquez, "but we have paid dearly for it."

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Architecture post COVID-19: the Profession, the Firms, and the Individuals

As the world is slowly reopening, easing lockdown measures, everyone is adapting to new realities. Imposing drastic adjustments to our lives, the coronavirus has introduced a new “normal”, changing our perceptions and altering our priorities. Driven towards questioning and evaluating our environment, we are constantly reacting and anticipating a relatively unknown future.

A casual conversation between two editors at ArchDaily generated this collaborative piece that seeks to investigate the current trends, predict the future, and offer insights to everyone/everything related to the architectural field. Tackling the evolution of the profession, the firms, and the individuals, especially young adults and students, this article, produced by Christele Harrouk and Eric Baldwin, aims to reveal what is happening in the architecture scene.

Humankind: After Covid-19

( THE GLOBAL SCENARIO)

Our entire civilisation is facing one of our most challenging times since WWII.

​The results caused by the COVID-19 outbreak are unimaginable and unpredictable yet, but we are already feeling the drastic effects. Richard Kozul-Wright, Director of the UNCTAD, estimates an impact that will cost the world economy around $1 trillion, expecting the worst scenario than the financial collapse in 2008.

( CHALLENGE )

Propose a visionary project that helps to revive the economy of a region, city or community affected by the COVID-19 outbreak.

In a perfect harmony of architecture, economy, and environment, the competition aims to generate visionary ideas

Buying A Home: What You Should Know Before You Purchase

Access to housing, both in the case of purchasing or renting, with any type of financing, is usually one of the most important economic investments in people's lives. It is natural to ask oneself what considerations are necessary in order to have a knowledge base before acting.

Amazon HQ2: Study by Data Science Experts Names Washington DC as Ideal Host City

Amazon’s open call for bids for its new headquarters, HQ2, closed last month, but in the months leading up to the final decision in 2018, analysts will continue to flood the internet with detailed studies evaluating who they believe should be the winner. In other words, the mirror-mirror-on-the-wall game for cities is just starting to warm up.

Earlier, ArchDaily reported on the data-driven approach adopted by Moody’s Analytics which projected Austin, TX as the winner. But another study by IT education company Thinkful now points towards Washington DC as the city most likely to make the cut. So what makes Washington DC the fairest of them all? Read on to see how data science techniques helped analysts at Thinkful with this prediction, what kind of approach they adopted, and how it differed from that of Moody’s Analytics.

15 Money-Making "Side Hustles" for Architects and Designers

What do a lot of recent architecture college grads have in common besides their degree? Student loans and disillusionment (see point 1 in Megan Fowler’s 11 Things You Learn at Your First “Real” Architecture Job to understand what we mean by "disillusionment"). But with the emergence of the digital age and “side-hustle economy,” millennials are learning how to monetize their passions, and now 1 in 4 Americans are making money digitally. Side-hustling has become so popular that there is even a school for it. The difference between a side-hustle and a second job is that side-hustles aren’t just about giving yourself a raise. Your side-hustle is something you truly love to do, and would probably do anyway, but now you get to share it with the world and make a little extra cash in the process. So what side-hustle is right for you? Here is a list of side-hustles which suit the skillset of architects and designers.

Why a City's Mayor Has To Be Its Chief Architect

Elected in 2001, over eight years in office Miami's former mayor Manny Diaz oversaw one of the most dramatic urban transformations in the United States' history. Diaz was therefore invited to offer the opening remarks to the second day of the 2016 Design Matters Conference, presented by the Association of Architecture Organizations, which is currently taking place in the city. In his speech delivered at the Miami Center for Art and Design, Diaz explains how he developed the "Miami 21" zoning code to leverage the power of architecture and urban planning, ultimately turning Miami from a subject of jokes into one of the United States' most successful and admired cities. Below is an edited version of this speech.

Ron asked me to explain how a lawyer with no experience in elective office and with no training whatsoever in architecture, urban planning or city design ends up with land use and Miami 21 as the signature project of his administration.

The Seventh Sense - Powering the Creative Economy

As part of their commitment to enriching the Arab society through identifying and resolving cultural and creative development issues in the region, Nuqat will be launching their 7th annual conference in Kuwait – themed ‘The Seventh Sense – Powering the Creative Economy.'

Economic Concepts That Every Architect Should Know

We talk about sustainability, livability, and land use to describe a project, but we often avoid the profitability, capital gains, and externalities that go along with them simply because we don’t know how to use the terms. Architecture doesn’t exist outside of the economy and in fact, how we build each building directly affects the economy of our cities.

As a profession, architecture acts as the mediator between different specialties, and it is very important to speak the official language of each of them. This article will help you easily understand some basic economic concepts that relate to architecture.

Debate: Pret A Habiter - Ready to Inhabit

AAgora is a debate platform based at the Architectural Association, London, which aims to shed light on relevant architectural topics. These debates take the form of an open-table discussion which encourages the audience to participate at any time. AAgora's third debate will be "Pret A Habiter" - or, Ready to Inhabit - Towards Nomadic Homogeneity, in the city through the sharing economy and Airbnb.