What should be done with the hundreds of stalled development sites around the city, areas cleared and waiting for new buildings to sprout? One company has a playful idea, to insert recyclable, sculptural architecture on the spots. “Owners and developers are spending money every day to cover these idle sites, and people are hesitant to build on them in the meantime,” Woods Bagot New York principal told Crain’s NY. “We wanted to make something high quality with a real presence to attract top-notch venues.”
And while we applaud their creativity and resilience, we also see this as an example of speculative development gone awry, leaving holes to fill, empty sites, vacuums that suck up precious dollars. This is why it’s so important to us to partner with the buyer in the beginning of the development process, to make sure there’s a demand before we hit the market with supply. We will not be leaving any holes to fill with temporary architecture.
On the other hand, we’re kinda curious as to what these structures will look like when they’re “done.”