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CTBUH Global News

The CTBUH Global News Archive is the primary place to get all the latest news on tall buildings, urban development and sustainable construction from around the world. The CTBUH also disseminates this information via our Monthly e-Newsletter, CTBUH Journal, and through books and reports. To view news for a certain category or time period, please use the links on the left side menu.

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Atlanta's Tallest Building is Half Empty


12 Feb 2013, Atlanta, United States

Atlanta's tallest building, Bank of America Plaza, stands half-empty, having lost more than 2,000 workers in recent years. The building was America's tallest foreclosed building last year, and is still seen by many as the symbol of the South's economic troubles, the Covington News reports. Read more.

Air Rights in New York Muddling Development Efforts


31 Jan 2013, New York City, United States

The complexities of New York's underutilized policy for merging and selling air rights of landmark buildings to new developments are analyzed in a new feature from the Real Deal. Developers often avoid the expensive process, defeating the purpose of the regulations, the article reports. Read more.

Real Life Lord of the Rings Tower Sold


30 Jan 2013, Birmingham, United Kingdom

An English charity for the homeless has purchased the tower which reportedly inspired one of J. R. R. Tolkien's towers in Lord of the Rings. The charity bought the dilapidated seven story, seven room Perrott's Folly Tower for one pound. Read more.

Long-Discussed Chelsea Barracks Project Put on Hold


29 Jan 2013, London, United Kingdom

Developer Qatari Diar has decided to suspend work on its proposed Chelsea Barracks luxury apartment complex, citing concerns about the British economy. Although the company has completed the planning approval process for the project, they are unwilling to move forward at this point. Read more.

Developer Seeks to Crowdfund Skyscraper Projects


24 Jan 2013, Bogota, Colombia

The Prodigy Network, the New York-based real estate marketing company which crowdfunded the Colombian skyscraper BD Bacatá, is expanding its efforts to solicit thousands of small investors to buy slices of an American skyscraper in exchange for a share of rents, Bloomberg reports. Read more.

Sony Tower Sells for ‘Aggressive’ Price


22 Jan 2013, New York City, United States

New York's post-modernist Sony Tower, formerly owned by AT&T, has been sold to Joseph Chetrit, a real estate developer who plans to convert the building into a luxury hotel and residential tower. The Chetrit Group signed a $1.1 billion contract to purchase the 37-story Philip Johnson-designed tower on January 18. Read more.

Second Tallest Building in Japan Sold


18 Jan 2013, Osaka, Japan

A Hong Kong-based investment firm has purchased Rinku Gate, the second-tallest building in Japan. A subsidiary of SiS International Holdings Limited purchased the 256-meter, 56-story project in Osaka for an undisclosed price. Read more.

Historic LA Hotel Hits the Market


15 Jan 2013, Los Angeles, United States

The historic 13-story Commercial Exchange Building in Los Angeles has been put on the market after standing empty for at least 20 years. The 109-year-old building is listed for $13.9 million and sellers expect to arrange a deal by next month, the Los Angeles Times reports. Read more.

Investor Continuing Tall Building Buying Spree in Detroit


08 Jan 2013, Detroit, United States

Investment firm Rock Ventures is in the process of buying a 25-story office building in downtown Detroit, the Detroit News reports. If the deal goes through, it will be the 16th property in Detroit purchased by the firm since January, 2011. Read more.

Cheesegrater Attracts New Tenants


17 Dec 2012, London, United Kingdom

The Rogers Stirk Harbour-designed Leadenhall Building under construction in the City of London is now over 51 percent pre-let, the developers announced. Insurance firm Amlin has agreed to rent 110,000 square feet (33,500 square meters) of office space in the building, also known as the Cheesegrater. Read more.

Belfast's Tallest Tower Repossessed


05 Dec 2012, Belfast, United Kingdom

The 85-meter (279-foot) Obel Tower in Belfast, Northern Ireland’s tallest building, has been taken over by administrators. The administrators were appointed after the building's controlling companies applied for insolvency. Read more.

Detroit's Historic One Woodward Avenue Sold


05 Dec 2012, Detroit, United States

Quicken Loans founder Dan Gilbert and Rock Ventures have purchased Detroit's One Woodward Avenue office tower. The building is the tenth downtown Detroit property acquired by Mr. Gilbert since January 2011, according to local media. Read more.

Penthouse Sells in Modernist Icon


29 Nov 2012, Chicago, United States

The penthouse of the Ludwig Mies van der Rohe-designed 880 North Lake Shore Drive has sold after two years on the market. The 3,400-square-foot (316-square-meter) apartment, originally listed for $2 million in 2010, sold for $1.7 million. Read more.

MetLife JV Buys Iconic Seattle Office Tower


27 Nov 2012, Seattle, United States

MetLife Real Estate Investments and Clarion Partners jointly bought the 55-story 1201 Third Avenue office tower in Seattle's CBD. Public records list the price as $548.8 million, which is about $492 per square foot. Read more.

Exclusive Slim Towers Brings High Profits to Luxury Apartment Towers


16 Nov 2012, New York City, United States

As land in cities becomes scarcer and more valuable, designers and developers are continually pushing for more slender floor plates in tall buildings. Building tall and slender is generally more expensive, but the price tags on luxury apartments make the projects very profitable, the Wall Street Journal reports. Read more.

1WTC's 'Antenna' Surrendered by Canadian Fabricator


13 Nov 2012, New York City, United States

The Port Authority of New York and New Jersey and a Canadian fabrication company have settled the lawsuit over the structure that will be placed at the top of the One World Trade Center. ADF Steel Corporation withheld the structure while demanding about $6 million in payments for another project. Read more.

Developer Announces Oakland's Newest Tower


13 Nov 2012, Oakland, United States

Developer Seth Hamalian is planning a 28-story residential tower for Oakland’s Uptown area, according to the San Francisco Business Times. The tower is intended for the site of an un-realized 2008 design by Skidmore, Owings and Merrill. Read more.

San Diego Tower Sells for 25 Percent Markdown


08 Nov 2012, San Diego, United States

San Diego-based investment firm Cruzan Monroe, in partnership with Cigna Investments Inc., has purchased DiamondView Tower in downtown San Diego for $121 million. The sale of the 15-story building is one of the year’s largest commercial property transactions, according to a statement from brokerage firm CBRE. Read more.

Walkie Talkie Building Clinches Another Tenant


08 Nov 2012, London, United Kingdom

London's Walkie Talkie building has signed Lloyd’s of London syndicate Ascot as its newest tenant. The 38-story skyscraper, which is owned by British company Land Securities, is now 23 percent leased, according to the London Evening Standard. Read more.

Gold Coast's Soul High-rise in Receivership


26 Oct 2012, Gold Coast, Australia

The Soul Tower on the Gold Coast of Australia has been placed into receivership. Pricewaterhouse Coopers were appointed on Thursday as the receivers and managers of the AU$850 million tower at the command of Soul's financiers, NAB, ING and Morgan Stanley. Read more.

Hudson Yards Bags Coach


25 Oct 2012, New York City, United States

Kohn Pedersen Fox (KPF) is designing the tower at Hudson Yards which will house leather-goods brand Coach, Inc. The tower has been on the drawing table for a year and is intended to create an urban campus for the brand. Read more.

Developers Upset Ministers by Selling Without a Permit


17 Oct 2012, Melbourne, Australia

The Singapore-based developers of the proposed Tower Melbourne have raised concerns after they started selling apartment units, even though they have not yet obtained final building approval from the government. Tower Melbourne is a 220-meter tall tower destined for Melbourne's fast growing CBD.Read more.

Top Buyers Tour the Tops of Top Towers


11 Oct 2012, New York City, United States

Interested parties in New York with enough money, powers of persuasion and impressive social connections have been enjoying rides to the top of under-construction, high profile projects like One57 or One World Trade Center.Read more.

Kingdom Tower Signs Foundation Deal


09 Oct 2012, Jeddah, Saudi Arabia

Although there is still no official word on when construction will start on Kingdom Tower, there are signs of progress. Saudi BAUER Foundation Contractors Ltd. this week announced it had signed a deal for the enabling works for Kingdom, the one-kilometer-tall tower planned for Jeddah, Saudi Arabia. Read more.

‘Robust’ Demand is Increasing Tower Sales


09 Oct 2012, New York City, United States

Sales of trophy office towers are increasing across the U.S. as landlords seek higher returns in second-tier cities, Bloomberg reports. Properties in many U.S. cities are benefiting from “robust” demand which helps to fuel deals on the towers. Read more.

Advertisers Consider Moving into 3WTC


04 Oct 2012, New York City, United States

GroupM, an advertising and media company, is reportedly in preliminary negotiations with developer Silverstein to become anchor tenant of Three World Trade Center. The potential lease could re-start construction on the 1,240-foot (378-meter) tower designed by the Pritzker-winning architect Richard Rodgers. Read more.