Real Estate: The Latest Architecture and News

This article was originally published on Common Edge.

I am by no means an expert on public-private partnerships. But for about 10 years, as the University of California Berkeley’s campus planner and then campus architect, I watched these developments play out in higher education—sometimes from a front-row seat, sometimes as a participant. During that time, this strategy, promoted with great enthusiasm and optimism, was touted as the answer to whatever problem arose. And yet the definition of a public-private partnership was slippery. The concept itself seemed to be all things for all people, depending on what was needed, who was recommending it, and what equivalents (if any) existed outside the university. The bandwagon continues to play today, making it ever more important to nail down the pros and cons of this development strategy, not only for colleges and universities, but for all public decision-making.

The window for solving climate change is narrowing; any solution must include embodied carbon. The Sixth Assessment Report published by the IPCC (Intergovernmental Panel on Climate Change) concludes that the world can emit just 500 gigatonnes more of carbon dioxide, starting in January 2020, if we want a 50 percent chance of staying below 1.5 degrees. In 2021 alone, the world emitted about 36.3 gigatonnes of carbon, the highest amount ever recorded. We’re on track to blow through our carbon budget in the next several years. To quote the IPCC directly: “The choices and actions implemented in this decade will have impacts now and for thousands of years (high confidence).”

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Atrium Ljungberg has just revealed Stockholm Wood City – the world's largest urban construction project in wood. Construction on the project is expected to begin in 2025, and the first buildings are expected to be completed in 2027. The initiative is a demonstration of Swedish sustainability.

The largest wood-building project in the world is now in progress, covering an impressive 250,000 square meters. The project sets a sustainable example for the real estate market, which is essential because built structures contribute a sizeable 40% of the world's CO2 emissions. Furthermore, Stockholm Wood City is set to become a turning point in sustainable architecture and urban planning. Situated in Sickla, southern Stockholm, this innovative neighborhood will offer an additional 2,000 houses and 7,000 business spaces. By merging workplaces, homes, neighborhoods, dining establishments, and retail spaces, it aims to create a vibrant and dynamic urban environment.

The Estonian Centre for Architecture has chosen the exhibition “Home Stage,” curated by Aet Ader, Arvi Anderson, Mari Möldre of b210 Architects, to represent the Pavilion of Estonia at the 18th International Architecture Exhibition of La Biennale di Venezia. Hosted in a rental apartment close to the rear exit of the Arsenale complex, the exhibition explores the contradiction between the living place as a home and as an exchange value. Various Estonian performers will each spend a month in the Venetian rental apartment, which will become both a home and a stage. The exhibition will be open from May 20 to November 26, 2023.

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A developer in NYC purchased the first-ever non-fungible token (NFT) Office building in New York City. "Located" at 44 West 37th Street, the 4700 square meters NFT serves as an immutable digital asset that points to transforming how we design, build, operate, and monetize our spaces with only "one-click". The 16-story building was created by spatial intelligence company Integrated Projects and questions the function of architecture in Real Estate and the Metaverse.

The great debate wages on: how do we design and build a modern city in a way that everyone will benefit? Traditionally, you’re on one side of the urban war. You’re either a NIMBY, which stands for “Not In My Backyard”, meaning you oppose new development in your neighborhood, or you’re a YIMBY, who says “Yes In My Backyard”, and are pro-development, for one reason or another. But these blanket acronyms don’t describe the real issues that cause people to position themselves on one side of the never-ending tug-of-war between “No! Don’t build that!” and “Yes! Build that!”

MetaMundo has launched its second three-dimensional NFT, an ocean-adjacent villa, complete with an NFT gallery, meditation pavilions, and entertaining areas. The structure was designed by American architect and hybrid-creative Luis Fernandez to become an immersive space for meeting, playing, and relaxing. Through this project, the architect aims to explore the changing paradigm of building in the metaverse. As laws of physics become irrelevant and materials are reduced to surface images, he asks the question what will architecture mean for the metaverse, how will we experience it and how will we use it?

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Adam Neumann, the co-founder of co-working company WeWork, is launching Flow, a new venture that hopes to transform the residential rental real estate market. While the details are still unclear, the company seems to be focused on creating a branded product with a focus on community features, as reported by The New York Times. The company received financial support, approximately $350 million, from Andreessen Horowitz, a prominent Silicon Valley venture capital firm and one of the early investors in Facebook and Airbnb. Flow is expected to launch in 2023.

The Alexander Team and metaverse real estate development firm Everyrealm, have announced the launch of "The Row", a private, members-only metaverse real estate community featuring architecture designed by world-renowned artists. The Row will be launched on the metaverse world-building platform Mona, and will feature limited-edition series of 30 3D architectural landmarks, each sold as a 1-of-1 non-fungible token (NFT) designed by artists including Daniel Arsham, Misha Kahn, Andrés Reisinger, Alexis Christodoulou, Six N. Five, and Hard.

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This article was originally published on Common Edge.

Recently, the Nobel laureate economist Paul Krugman wrote in the New York Times about the causes of unaffordable housing in New York City. He blamed the crisis on a few things, including a powerful financial “monoculture” in the city, NIMBYs, and the city itself blocking new construction. That last element, however—that the city blocks new construction—is an increasingly popular myth that needs examination.

Over the past year, NFTs have entered the realm of architecture, prompting conversations over the role of the profession in the future digital economy. From the design of digital real-estate to exhibitions and architecture events exploring its value for the practice and established architecture firms embracing the new medium, NFTs have been embraced by the profession as the promise of a new form of creative production. Discover a round-up of architecture's experiments with NFTs so far, together with a series of Archdaily articles shedding light on the topic.

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It didn’t take long for the coronavirus pandemic to inspire both cutting-edge architectural design solutions and broad speculation about future developments in the field. Many of the realized innovations have been contracted by or marketed to the real estate sector. But as firms compete to provide pandemic comforts to rich tenants, the COVID-19 technology that directly affects working-class communities is mostly limited to restrictive measures that fail to address already-urgent residential health hazards or administrative conveniences for developers that allow them to circumvent public scrutiny. These changes had been long-planned, but they have found a new license under the pretext of coronavirus precaution. In terms of “corona grifting,” this sort of thing takes the cake.