Manhattan Office Rents Increase With Internet Certification | GlobeSt.com

Buildings with high rated internet connections command premium rents. Also interesting is the replacement of FIRE (Finance, Insurance, Real Estate) by TAMI (Technology, Advertising, Media & Information).

“When tenants pay more for their office space, they expect better internet connections,” Shaw Lupton, senior managing consultant at CoStar Portfolio Strategy, tells GlobeSt.com. In looking at WiredScore rated buildings, on average there was a 6.9% increase in rental properties, between each of the four rating levels.The report found Class B buildings benefitted the most from certification. They commanded rents up to $7.50 more per square foot compared to non-Wired Certified structures, also accounting for distances to subways. “Class B building internet connections are much, much less uniform than internet connections in Class A buildings,” explains Lupton. “For Class B buildings, the wired certification sends a much needed signal to the marketplace about the quality of the connection in that building.”

TAMI (technology, advertising, media and information) tenants are attracted to buildings with strong digital infrastructures. This sector leased 13.3% of the platinum rating buildings compared to 6.9% of unrated buildings.

TAMI tenants took up an average of 8.4% of the buildings with the certified, silver and gold level designations.

Source: Manhattan Office Rents Increase With Internet Certification | GlobeSt.com

Blowing down the Saddledome and building a new Victoria Park – Calgary – CBC News

Imagine you were given a serious chunk of Calgary’s core, a blank sheet of paper and a pencil, and told you could turn it into whatever you wanted.That’s pretty much what the Calgary Municipal Land Corporation (CMLC) is doing with Victoria Park.Planners and a couple of architectural firms are hammering away at a vision for the future of one of Calgary’s oldest neighbourhoods.It’ll be a 20-year plan to turn what’s currently a seriously bizarre jumble of skyscrapers, empty lots, an aging Saddledome, a bus barn and several rail lines, into Calgary’s entertainment district of the future. And a cool new place to live.

Source: Blowing down the Saddledome and building a new Victoria Park – Calgary – CBC News

Retrofitting suburbia: Old shopping malls can be saved by their parking lots – Business – CBC News

 

In what some call “retrofitting suburbia,” fading food and department stores are reinventing their huge urban properties by filling them up with residential, office and retail space.And with Sears Canada closing dozens of department stores, new opportunities in these “mixed-use” developments now abound.”Just about every shopping centre — if they’re smart — is looking at this,” said Brent Toderian, an international consultant on urbanism and city planning based in Vancouver.Brent Toderian”Just about every shopping centre — if they’re smart — is looking at this,” said Brent Toderian, an international consultant on urbanism and city planning based in Vancouver. (CBC)”The recognition is that you can bring more customers, you can get more value out of the land and, particularly when you’re around transit, you can provide a lot more transit ridership rather than car dependency.”Such revelations aren’t new in the United States but the idea has caught fire more recently in Canada.

Source: Retrofitting suburbia: Old shopping malls can be saved by their parking lots – Business – CBC News

Opinion | A New Map for America – The New York Times

From 2016 but even more salient today. Compare to Trump’s Infrastructure Plan once released and see where the plan misses the key points.

Congress was once a world leader in regional planning. The Louisiana Purchase, the Pacific Railroad Act (which financed railway expansion from Iowa to San Francisco with government bonds) and the Interstate System of highways are all examples of the federal government’s thinking about economic development at continental scale. The Tennessee Valley Authority was an agent of post-Depression infrastructure renewal, job creation and industrial modernization cutting across six states….

What would this approach look like in America? It would start by focusing not on state lines but on existing lines of infrastructure, supply chains and telecommunications, routes that stay remarkably true to the borders of the emergent super-regions, and are most robust within the new urban archipelagos…

Where possible, such planning should even jump over international borders. While Detroit’s population has fallen below a million, the Detroit-Windsor region is the largest United States-Canada cross-border area, with nearly six million people (and one of the largest border populations in the world). Both sides are deeply interdependent because of their automobile and steel industries and would benefit from scaling together rather than bickering over who pays for a new bridge between them. Detroit’s destiny seems almost obvious if we are brave enough to build it: a midpoint of the Chicago-Toronto corridor in an emerging North American Union.

To make these things happen requires thinking beyond states. Washington currently provides minimal support for regional economic efforts and strategies; it needs to go much further, even at the risk of upsetting established federal-state political balances. A national infrastructure bank, if it ever gets off the ground, should have as part of its charter an obligation to ignore state lines when weighing

Source: Opinion | A New Map for America – The New York Times

Latest Renderings for Kearny Point, New Jersey’s Former Shipyard Being Transformed into a Small Business Hub | Untapped Cities

A very interesting project to track. Conversion of an industrial waterfront into a modern office park with exceptional architects/planners and a developer with a vision.

 

 

Aerial view of the Kearny Point site. Image via STUDIOS Architecture (Architecture) in collaboration with WXY architecture + urban design (Master Planning).

Kearny Point, which is located cross the Hudson River in Kearny between Newark and Jersey City, is being positioned as a sustainable business campus. The developer, Hugo Neu, is renovating and redesigning spaces that were once dedicated to one of the most well-known and most active shipbuilding sites, which opened in 1917 in the months leading up to the entrance of the United States in the first World War…..The developers have since renovated a first building, Building 78, that serves as Kearny Point’s proof of concept. It currently houses 150 small businesses, of which over 70% of which are minority or women-owned, a co-working space called Kearny Works, a cafe and a blue roof. The site also houses various companies, including a vertical farm, a bridal design company, a vitamin company, and much more.

A master plan has been developed by WXY, the architecture and urban design firm behind projects like the Spring Street Salt Shed and DSNY Manhattan District Garage, the Sea Glass Carousel in Battery Park, the redesign of Astor Place, and the reconstruction of the Rockaway Beach Boardwalk. At Kearny Point, WXY has envisioned a comprehensive plan that will densify the site, add public open space, offer new waterfront access, restore native habitat, and protect the site from flooding.

$1 billion is planned to be invested over the next decade, contributing to 7000 new permanent jobs and new tax revenue for the state and local jurisdiction. There will be three million square feet of converted or new office space. In addition, 15 acres of restored shoreline will accompany a new 4,100 foot waterfront promenade and 10 acres of publicly accessible civic and open space, including a 20,000 square foot amphitheater. It is anticipated that the waterfront area around the south basin and Building 197 will be completed this year, with another large portion of the historic yard anticipated to be completed between 2017 and 2018. A second waterfront phase is projected to be completed by 2023.

Source: Latest Renderings for Kearny Point, New Jersey’s Former Shipyard Being Transformed into a Small Business Hub | Untapped Cities

Bank of America confirms Dublin as location for EU hub

Even if the UK reverses and doesn’t Brexit, the genie is out of the bottle. While London may survive as Europe’s premier financial center in a no-Brexit scenario, it will be by a smaller margin and with more competition.
Frankfurt and Dublin will be more important as financial centers with or without Brexit. Paris will gain – especially as high-speed transportation links advance. Just as Wall Street now stretches coast-to-coast, the European financial industry will spread across Europe. And don’t forget, non-financial institutions are also important and also relocating. For a country with strict gun control, the Tories-led UK has amazingly managed to shoot itself in one foot with no-Brexit and both feet with Brexit.

Wall Street giant Bank of America Merrill Lynch has picked Dublin as the preferred location of its EU hub, joining a growing number of international financial groups to outline initial plans for how they plan to deal with the fallout from Brexit.

Speaking to The Irish Times in Dublin on Friday, group chief executive Brian Moynihan said this will result in the bank’s existing Irish subsidiary merging with its current most important EU banking unit, based in London.

It will also involve the group setting up an EU trading operation, or broker-dealer, in the Republic, which will require separate Central Bank approval, he said.

 

Source: Bank of America confirms Dublin as location for EU hub