Thirty-five cents. One quarter, one dime. That’s how much—or how little—it cost to buy one share of stock in General Growth Properties at the end of trading today.
It’s been a rough year for the 54-year-old mall developer and operator as it stock has tumbled—in concert with the real estate and retail markets—from a high of $67 per share in March 2007. Yet that stock was still valued at $38 as recently as June 18, when the company announced its plans for new South Street Seaport. Even when it presented those plans to the Landmarks Preservation Commission on October 21, when the stocked closed at $4.84, GGP remained confident in the future of the project. But that was before Monday’s report in The Wall Street Journal that General Growth might file for bankruptcy. Read More
We celebrated our 100th issue last night at USM Modular Furniture’s beautiful showroom in Soho (thank you USM and Anna Bilski). There were over 200 of our loyal New York readers and advertisers there to mark the event with lovely little USM appetizers [Ed.: think Tadao Ando meets Asymptote], wine, and words from yours truly. Read More
As AN reported yesterday, California voters came out in force to favor a handful of pro-transit and planning initiatives, a trend that swept the country on election day. According to a press release from the America Public Transportation Association (APTA), 16 states approved 23 ballot measures on Tuesday, dedicating some $75 billion to transit-oriented projects. Read More
At Monday’s Coney Island charrette kick-off, hosted by the Municipal Art Society, a number of stakeholders from the area gave presentations to the design team to help them form ideas for leading the charrette in a few weeks. (To share your own, visit the imagineconey.com, which just launched today.)
One of the presentations was given by Jon Benguiat, the director of planning and development for Brooklyn Borough President Marty Markowitz, who spoke about Asser Levy Park, a small outdoor amphitheater and park across Surf Avenue from the aquarium, which is getting a dramatic $64 million retractable roof courtesy of Grimshaw. (More on that soon, we hope.)
As with all these things, there was a Power Point presentation, and as with all Power Point presentations, the whole thing took some time to boot up. In the interim, Benguiat decided to tell the story of how he became Marty’s planning direct, during which he let some shocking news about the Atlantic Yards, or at least the fate of the Brooklyn Nets, slide. Read More
Without further ado, here are the winners of the AIA LA’s 4th Annual Restaurant Design Awards. The awards were announced on October 16, and judges included architects David Montalba and Michael Hogdson, Joachim B. Splichal, founder of the Patina restaurant group, and LA Weekly writer Margot Dougherty.
Blue Velvet designed by Tag Front
We’ve heard plenty about the annual tradition that is the Esquire House. The mag transforms a chic address into the ultimate bachelor pad or “How a Man Lives”…along with hundreds of his heaviest-drinking C-list celeb friends. Last year the spot was Charles Gwathmey‘s Astor Place Tower, so this year they returned to the west coast, with a location to-be-revealed somewhere in the Hollywood Hills. But when we got the above invite to the Jaguar-sponsored event last Saturday, we took one look at the iconic Julius Shulman shot and gasped in horror.