Posts tagged with "Supertall":
The SHoP-designed building on 111 W. 57th Street has only been built up to 20 stories and is already $50 million over budget. Real estate investment corporation AmBase filed a lawsuit in the Manhattan Supreme Court against the project’s developers and the lender over construction cost overruns.
AmBase, which had invested over $70 million into the building, blamed sponsors Kevin Maloney and Michael Stern, as well as Spruce Capital Partners.
“Apparently they omitted some very significant items in their budget including cranes, which are very expensive in New York and can run into the millions of dollars,” AmBase’s attorney Stephen Meister said to the Post.
Maloney, Stern, and AmBase had defaulted on a $25 million mezzanine loan from Spruce Capital Partners in June, according to the Post. The proposed mezzanine loan would allow the lender (Spruce) to take control of the asset in a default situation.
But on Wednesday, a judge enforced a strict foreclosure procedure, blocking Spruce from taking ownership of the project. If Spruce puts the building up for foreclosure, however, AmBase could potentially get back some of its $70 million investment.
An earlier report by The Real Deal revealed that the developers were facing a $100 million cash deficit and that AmBase already sued the developers last year, alleging that they were trying to “dilute its stake” in the project.
The building was meant to rise 1,400 feet, or 82 stories. It made headlines as the world’s most slender building, with a height-to-width ratio of 24:1 and a floor plate measuring 60 feet by 80 feet.
111 W. 57th Street is not the only building on the oversaturated Billionaire’s Row in trouble. A penthouse apartment at One57 on 157 W. 57th Street, the supertall that started it all, is awaiting its foreclosure auction.
The Council on Tall Buildings and Urban Habitat (CTBUH) has announced the completion of the Ping An Finance Center in Shenzhen, China, according to CTBUH tall building criteria. At 599 meters (1,965 feet), it is now officially the second tallest building in China and the fourth tallest in the world, behind only the Burj Khalifa, Shanghai Tower and Makkah Royal Clock Tower.Designed by Kohn Pedersen Fox Associates (KPF), the Ping An Finance Center is located in the heart of Shenzhen’s Fuitan District. The building contains over 100 floors of office space located above a large public podium, with a multi-story atrium providing retail, restaurants, and transit options to the city and greater Pearl River delta region. The CTBUH describes the form of the tower as a “taught steel cable, outstretched by the sky and the ground at once. At the top of the tower, the façade tapers to form a pyramid, giving the tower a prismatic aesthetic.” The form is further emphasized by eight composite “megacolumns” along the building envelope that streamline the building for improved structural and wind performance, reducing baseline wind loads by 35 percent.
The facade of the building is one the project most innovative features; its use of 1,700 tons of 316L stainless steel makes the envelope the largest stainless steel facade system in the world. The specific material was chosen for its corrosion-resistance, which will allow the building to maintain its appearance for decades even in the city’s salty coastal atmosphere.Read more about the project here. News via CTBUH. Written by Patrick Lynch. Want more from ArchDaily? Like their Facebook page here.
SHoP makes the Brooklyn skyline with a “brooding, elegant, and badass” supertall… There goes the neighborhood?
If you zone it, they will build, and they will build tall. New York–based SHoP, in partnership with JDS Development Group, revealed plans earlier this year to build 9 Dekalb Avenue, a 73-story, 1,066-foot-tall residential tower fused to the landmarked Dime Savings Bank in Downtown Brooklyn. Last month, the design cleared a crucial hurdle when the Landmarks Preservation Commission (LPC) approved the tower’s design and consequent modifications to the bank.
“There’s a sort of brooding Gotham to it,” noted Gregg Pasquarelli, founding principal of SHoP. “There’s a little bit of badass to it, but it’s quite elegant at the same time. Isn’t that what we all want to be as New Yorkers?” The 417-unit building is clad in bronze, stainless steel, and stone, with view-maximizing interlocking hexagonal exposures. Pasquarelli explained that the facade detailing is such so that when two sides of the hexagon are viewed from an oblique angle, it will resemble one face, a sleeker reference to the grand old New York skyscrapers like Rockefeller Center and the Chrysler Building.
Michael Stern, founder of JDS Development Group, proclaimed: “The tower will be Brooklyn’s next icon. Brooklyn was really missing that one iconic statement that was worthy of the borough. This building will really put Brooklyn on the map.” Drawing from the landmark on-site, the spacing of the tower’s vertical facade elements mirrors the spacing of the bank’s neoclassical columns. The color and materials palette picks up on the bank’s colorful stone interiors, which will be converted to retail, while parts of the bank’s roof will be used for the building’s private outdoor spaces.
“The downtown rezoning of Brooklyn in 2004 has been very successful. This is a place where the city could handle density. It’s an incredible kudos to the city they upzoned that area, that they thought about tall towers,” said Pasquarelli. At the prow of Flatbush and Dekalb, the building will be visible from all over Brooklyn, and its distinctive facade will reinforce its prominent position on the skyline.
He and Stern enjoy experimenting with exteriors. Referencing the terra-cotta facade on 111 West 57th Street and the cladding on the East River–facing American Copper Buildings, Pasquarelli intimated that developers and architects are obligated to build for the public realm. “Some people get to live in these buildings, but we all have to live with the exterior.”
While preservationists sometimes bristle at the modification of an individual landmark, Gina Pollara, executive director of the preservation advocacy organization Municipal Arts Society (MAS), thinks there’s a larger issue that’s expressed in the development of tall towers like 9 Dekalb. “For us, it’s not really about the towers itself. Most of these supertalls are going up as-of-right. Because they’re not asking for any variance or any change, there’s no opportunity for public comment.” This tower was unusual, she elaborated, because it involved a landmarked structure. “These buildings are so out of context or out of scale with the neighborhood, and there’s no space for public comment until developers release their renderings. There’s no discussion of the cumulative effects these towers are having on public space.”
In an interview with AN, Stern said that he could not react to critiques like MAS’s (which he had not heard about), “but I can tell you that the commissioners had comments ranging from, ‘the best of urbanism’ and ‘flawless,’ and the LPC approved the project unanimously, as did the community board. It’s something we’re quite proud of.”
Pollara would like to see a better conversation around the 100-year-old zoning code, and reform beyond Mandatory Inclusionary Housing and Zoning for Quality and Affordability, the recently codified zoning text amendments. “It’s time to make zoning much more transparent—not just to the layperson, but to elected official,” Pollara said. “We need to get in front of the issue rather than being at the mercy of what is being built around us. Preservation in the 21st century is not necessarily rallying around a specific building, but looking at open space, light, air—all of the elements we want to preserve. We don’t want to live in a city that’s created by default.”
Alabbar added that he intends to present the tower as a "gift to the city" before Dubai's 2020 World Expo, with which Norman Foster, Bjarke Ingels and Nick Grimshaw are all involved.