Tag Archives: Investment

thoughts and faces #loosematerial

My father [never a follower of the FedUp Farmers, as he deemed them; always the campaigner for removal of farm subsidies, to enhance production and market competition] had ‘stock’ phrases with which to judge the faces of female adversaries, those with little brain or spine in politics, pretenders. One adept phrase that sticks in my mind is “like a horse eating thistles” —so I look on the following with my tinted lens, and laugh, rurally (ruefully). No one target.

On 19 May @StuFleming tweeted: “Spend $200k, revenue projections of $2.4M to others, 10% margin yields say $240k net”
[minus ODT news photo of face]

[DUD ‘money hype’ typically depends on false multipliers, anechoic silences, and arrogant self-belief —this (yes) bleak statement applies across a broad range of proposed deals and associated marketing detritus in the city, especially to events, conferences, sport, hospitality and accommodation, and even the re-use (Not conservation) of truly rare and precious instances of historic heritage] Here’s to all the fricking horses out there, including hypocritical colleagues and friends with blinkers like demo balls prepared to squeeze the last dollar and pass us to Hell. Anyway, back to “the business”…. cargo cult tourism. The wider effects of tourism are like those of dairying. Too many eggs in one basket and everybody (I mean, everybody) ends up doing it badly —killing Our Place for generations. Greed, like endorphins, like a running addiction, binds them up. They think they’re bright, they think they’re enablers (read risk takers/investors centred on their own gains only), they think they’re entrepreneurs, better than others (but because I for one will tell you things you don’t want to hear, you’ll say “I’ll ring you tomorrow”, that silence again) but they’re just funneled, tunneled sheepybaas – doing it wrong. Like cows, deer, Chinese gooseberries (Kiwifruit!), wines, stadiums….. or ‘getting a room’ behind the poorly remembered, heavily made-up, Disney’d facade of our city and nationhood. The worst kind didn’t, or didn’t bother to, ‘grow up’ here. They get desperate, create mess, import other yes men. Ring you like nothing happened, their exploits —not to ask deeply madly who and how you really are.

### ODT Online Sat, 20 May 2017
Trenz prompts high aspirations
By David Loughrey
Next year’s Trenz conference in Dunedin is set to cost ratepayers $200,000, but the long-term pay-off should run well into the millions.
The Dunedin City Council will next week be given an idea of the costs to the city of hosting the conference from May 7 to 10, and also the estimated benefits. The city learned last week it would host the tourism industry event next year, bringing up to 1200 international travel and tourism buyers, media and New Zealand tourism operators to Dunedin. It will be the first time the event, run by Tourism Industry Aotearoa (TIA), has come to Dunedin and the first time it has been hosted outside Auckland, Rotorua, Christchurch or Queenstown since it began in the 1960s. Trenz is an opportunity for New Zealand tourism operators to sell their product to buyers, effectively overseas travel agents who put together itineraries for overseas tourists. Attracting more than 350 buyers to experience the tourism products on offer here is considered a huge coup. On average, each buyer sends 4000 visitors a year to New Zealand, totalling 1.5 million. It comes as figures show New Zealand’s tourism market is expected to continue to grow strongly, topping $15 billion by 2023. Tourism contributes more than $690 million to Dunedin’s economy every year.
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Meanwhile, although we (‘our stock’ NZ) and the UK farm gate look pretty much the same……

‘Herdwick Shepherd’ aka James Rebanks (@herdyshepherd1) farms Herdwick sheep in the English Lake District. Author of bestselling memoir, The Shepherd’s Life:

### ODT Online Saturday, 20 May 2017
OE to Britain set to get tougher
Prime Minister Bill English says the Conservative Party’s new plans to clamp down on immigration will sting New Zealanders wanting to live in the United Kingdom, including on the traditional OE, but there is little he can do until Brexit is completed. The British party’s election manifesto includes plans to drastically cut net migration from 273,000 to less than 100,000 by targeting students and those on working visas. It proposes cutting the number of skilled migrants to get visas, higher levies on employers who take on migrant workers and tripling the National Health Service immigration health surcharge from £200 to £600 ($NZ380 to $NZ1130) a year for those in the UK on visas of more than six months and 450 for international students. That surcharge increase will also affect those on the traditional OE, although there is no mention of scrapping the two-year youth mobility visa which allows young New Zealanders to get a two-year visa to work and travel in the United Kingdom. Mr English said the changes would affect those on their OE but they would have to grin and bear it until Brexit was completed. NZME.
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Super City mayor Phil Goff has a plan for getting money from tourists – it bears some similarity to that of the Mongrel Mob……

### NZ Herald Thu, 18 May 2017
Winston Aldworth: Seeking the smart money
OPINION What do Phil Goff and the Mongrel Mob have in common? As hundreds of travel industry figures from all around the world gathered in Auckland for last week’s Trenz conference, one of the many topics up for discussion was the Auckland mayor’s enthusiasm for a hotel bed tax on visitors to the city. Meanwhile, up north at Ahipara on Ninety Mile Beach, three German tourists were approached by two local Mongrel Mob members who told them that they were on Maori land, and had to pay koha. They also told the tourists they’d be taking a few of their cigarettes. A tobacco tax, if you will. Perhaps their plan for putting heavy taxes on visitors was inspired by the Super City mayor. Goff’s bed tax is about as blunt an instrument as the Mob’s shakedown. “Look there’s a foreigner! Let’s get a couple of bucks off them.” The airport tax introduced by John Key a year ago is equally clumsy. It’s a travesty that these tariffs are the best we can come up with for making money out of tourism. Yes, other countries put dull levies on visitor arrivals, but that’s no reason to follow suit. We New Zealanders pride ourselves on being innovators, so let’s find innovative ways to get more money out of the tourism sector. Both Goff and Key were ministers in governments that did everything they could to remove tariffs from the dairy trade. Today, the best and brightest marketing wallahs of Goff’s inner circle are putting forward a plan no more sophisticated than one devised by two Mongrel Mob members standing on a Northland beach. I’m not against making money out of tourists — quite the opposite, in fact. I think it’s terrific that our country can be boosted by an industry that encourages us to care for our environment, celebrate the things that make our culture unique and spreads revenue quickly and efficiently to the regions. But how about instead of putting a dumb tax on the visitors, we upsell them? Take their money at the gate for sure, but give them something special in return.
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Enough randomising. More rain and ice falls.

Posted by Elizabeth Kerr

This post is offered in the public interest.

24 Comments

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Gurglars visits the Delta/Noble JV subdivision at Yaldhurst

Received from Gurglars
14/02/2017 9:07 p.m.

yaldhurst14-2-17-1George Noble Rd, Yaldhurst

yaldhurst14-2-17-2Who wants to live near power lines? They run right through the subdivision.

yaldhurst14-2-17-3No one is working at Yaldy, this glass has been on the road for a long time.

yaldhurst14-2-17-5A digger strategically placed to suggest action – reality, inaction.

yaldhurst14-2-17-4The crowning glory – unbelievable, no ads for Yaldhurst sales but an ad on the property for a subdivision near Pegasus!

whatifdunedin replies:
Nearby subdivisions sold well with power lines and pylons…
Weird mentality at CHC.

That hoarding (not that old… months only) originally featured marketing for the commercial area at the Yaldhurst subdivision. Recently pasted over with Infinity’s other project.

[“Ravenswood, half an hour north of Christchurch, is being offered for sale by developer Infinity Investment Group, which says the project is too big for it.” See last note at (28.3.15) Stuff: Gloomy outlook for solar housing in Christchurch; and (9.8.16) Stuff: Work to begin on Ravenswood development after sale abandoned.]

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Received from Gurglars
2017/02/15 at 6:51 am

News Flash
The word on the street is that a well-heeled solid respectable group offered $12,000,000 actual cash, money, moolah, for Yaldhurst.
The idiotii accepted a notional nonexistent $13million from a $1000 capitalised company who have subsequently made no moves towards repair, consents, or even inspected their new purchase.
If they have inspected it, one would have thought they would clean glass from the road (been there so long it’s almost fused and embedded). Maybe they would have mowed the grass? Or perhaps they would have found the keys to the lone token digger. Having commenced these $5 dollar cleanups they may have been able to put a sign up advertising the properties.
And why is activity important to a Dunedin ratepayer or councillor?
Because honey, we do not get any money until they sell profitable sections.
That’s why the $12,000,000 cash was the only offer that the idiotii should have accepted and folks that’s why you do NOT elect Greens, flakes and dreamers, because it’s your money they have, and will enjoy wasting.

whatifdunedin replies:
Your point is well made, Gurglars. But. It’s much more complicated than that. Seller was the buyer. And we have Graham Crombie (accountant!) as middle man, we wonder who he is really working for, Gordon Stewart? Justin Prain? Murray Frost? Previously/still, Stuart McLauchlan? Who.

Posted by Elizabeth Kerr

This post is offered in the public interest.

5 Comments

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When Life as we know it erupts into Scale, Manufacturing and Transit

Productivity is a measure of how efficiently production inputs are being used within the economy to produce output. Growth in productivity is a key determinant in improving a nation’s long-term material standard of living. —Statistics NZ ….[yawn]

Since March 2006, Statistics NZ has produced a yearly release of official measures of annual productivity for the measured sector. These measures are vital to better understanding improvements in New Zealand’s living standards, economic performance, and international competitiveness over the long term. Productivity is often defined as a ratio between economic output and the inputs, such as labour and capital, which go into producing that output.

Productivity Statistics – information releases ….[ZzzZzzzz…………..]

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Viddsee Published on May 18, 2016
Changing Batteries – A Robot “Son” Couldn’t Replace The Emptiness In Her Heart // Viddsee.com
‘Changing Batteries’ is a final year animation production made in Multimedia University, Cyberjaya, Malaysia. The story tells of an old lady who lives alone and receives a robot one day. Based on the theme ‘Change’, our story tells about their relationship development with one another through time.

Viddsee Published on Feb 23, 2016
Alarm – Relatable Animation For The Mornings // Viddsee.com
The story is about a salaryman living in a single apartment. But he has a problem getting up early in the morning. He would rather die than wake up early. He decides to set many alarm clocks everywhere in his apartment so he can get to work on time. The next morning, after struggling with his alarm clocks, he barely finishes preparing for work.

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WIRED UK Published on Jul 5, 2016
Shenzhen: The Silicon Valley of Hardware (Full Documentary) | Future Cities | WIRED
Future Cities, a full-length documentary strand from WIRED Video, takes us inside the bustling Chinese city of Shenzhen. We examine the unique manufacturing ecosystem that has emerged, gaining access to the world’s leading hardware-prototyping culture whilst challenging misconceptions from the west. The film looks at how the evolution of “Shanzhai” – or copycat manufacturing – has transformed traditional models of business, distribution and innovation, and asks what the rest of the world can learn from this so-called “Silicon Valley of hardware”. Directed by: Jim Demuth

Future Cities is part of a new flagship documentary strand from WIRED Video that explores the technologies, trends and ideas that are changing our world.

BBC aired the documentary in November, with the following descriptor:

Best Documentary 2016 Shenzhen: The Silicon Valley of Hardware gives us an insider’s perspective on a system of creative collaboration that ultimately informs all of our lives.

The centre of the technology world may not lie in California’s Silicon Valley, but in the bustling marketplace of Huaqiangbei, a subdistrict of Shenzhen in China. This is where curious consumers and industry insiders gather to feast their eyes and wallets on the latest software, hardware, gadgetry, and assorted electronic goods. At the very start the film sets the scene to this fascinating technology mecca. A city populated by 20 million people, Shenzhen is the setting where advancement is most likely to originate at speeds that can’t be replicated in the States. The city’s vibrant and inventive tech work force takes over when the innovations of Silicon Valley become stagnant. The revolution may have started in the States, but its evolution is occurring in China. Working in collaboration, Shenzhen labourers craft unique upgrades and modifications to everything from laptops to cell phones. Their efforts then immigrate and influence the adoption of new products in other regions of the world. The infrastructure by which this is made possible is known as the ‘Maker movement’. In developer conferences and Maker exhibition fairs, tech geeks are encouraged to share their ideas freely with colleagues in the hopes that more open collaborations will form grander innovations. The film highlights how these attitudes stand in sharp contrast to the Western world where communications are secretive, monopolies are the norm and proprietorship is sacred. However, there are challenges faced by Shenzhen in maintaining their edge in the industry. While widely acknowledged as pioneers, Shenzhen’s prominence has faltered as the remainder of China has proven successful in their attempts to catch up. Adding to the frustrations, the government has interceded and moved manufacturing bases outside of the city. Meanwhile, figures from the world of investment financing have moved into the equation, and threatened to stifle creativity by imposing a more closed and impenetrable mode of operations.

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### dailymail.co.uk 30 Oct 2013
Ever wondered how everything you buy from China gets here? Welcome to the port of Shanghai – the size of 470 football pitches
By Daily Mail Reporter
Whether it’s the car you drove to work in, the computer at your desk or your children’s toys strewn across their bedroom floor, there’s a very good chance they have come from here. This is the world’s busiest trading port which handles a staggering 32million containers a year carrying 736million tonnes of goods to far-flung places around the globe. Stretching as far as the eye can see, rows upon rows of containers lie stacked up at the Port of Shanghai waiting to be shipped abroad and bringing in trillions of pounds to the Chinese economy in the process. It’s this fearsome capacity that has helped China become the world’s largest trading nation when it leapfrogged the United States last year.
The port has an area of 3.94 square kilometres – the equivalent of 470 football pitches. China’s breakneck growth rate in recent years has been driven by exports and manufacturing as well as government spending on infrastructure. In the last eight years alone, capacity at the Port of Shanghai has ballooned from 14million TEUs (a unit which is roughly the volume of a 20ft-long container) in 2004 to more than 32million last year. The rapid expansion was largely thanks to the construction of the Yangshan Deepwater Port, which opened in 2005 and can handle the world’s largest container vessels. That port alone can now shift around 12million containers a year.
Shanghai’s location at the mouth of the Yangtze River made it a key area of development for coastal trade during the Qing dynasty from 1644 to 1912. In 1842, Shanghai became a treaty port, which opened it up to foreign trade, and by the early 20th Century it became the largest in the Far East. Trade became stifled after 1949, however, when the economic policies of the People’s Republic crippled infrastructure and development. But after economic reforms in 1991, the port was able to expand exponentially.
Read more

shanghai-yangshan-port-01-topchinatravel-comdonghai-bridge-1-topchinatravel-comyangshan-deepwater-port-meretmarine-comyangshan-deepwater-port-embed-lyyangshan-deepwater-port-via-reddit-com

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David Carrier Published on Jan 13, 2017
World’s Biggest and Busiest Port Ever Made – Full Documentary
The Yangshan Deepwater Port is connected to the mainland by the Donghai Bridge, the world’s longest sea bridge.

Posted by Elizabeth Kerr

This post is offered in the public interest.

*Images: (from top) Shanghai Map – topchinatravel.com, Donghai Bridge – topchinatravel.com, Yangshan Deepwater Port – meretmarine.com, embed.ly, reddit-com

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Delta #EpicFail : L is for (Slow) Luggate Learner and T is for Turnip.

turnip [pinterest.com]Received from Christchurch Driver [CD]
Wed, 4 May 2016 at 12:55 a.m.

Readers, I must admit defeat. I have I think, even if I say so myself, achieved some quite good lines in my quest to succinctly describe the various acts of stupidity committed by Delta at the Noble Subdivision. But recently, an associate (probably keen to cut me down to size !) sent a piece from Fairfax by Tim Hunter, now at the National Business Review, following the Auditor-General’s report in 2014. I saw immediately I had been bested by a better scribe : He memorably described the Delta management as having “commercial acuity about as sharp as a turnip” . That I could reach such cutting brevity !! Mysteriously, no threat of defamation was forthcoming to Mr Hunter….

And as the coast is clear, to honour Mr Hunter, Delta management shall henceforth be referred to as the Delta Turnips….

Your correspondent was intrigued to read of the Lazarus like re-emergence of Luggate Park as a premium lifestyle subdivision destination of choice with prices for sections between $325,000 – $495,000. (Note, no offers are entertained – these are fixed prices say developers Willowridge !) If this goes according to plan, there appears to be a profit even larger than the reported Delta loss of $5.9M* for the enterprising Mr Allan Dippie, the latest owner of the ex Delta land.

Now, your correspondent understands that Mr Dippie may not have as many university degrees as the Delta directors, or possibly not one at all. Mr Dippie does not breathe the same rarefied directorial air as the likes of Mr Stuart McLauchlan, Mr Denham Shale and other ….directors. However Mr Dippie does know his Central Otago subdivision market very well, and further knows that land development sometimes has to be viewed long term, the way a Japanese banker views the deadbeat property loans they made in Tokyo in the 1980s that are still underwater. That is, if you still own the asset you haven’t lost anything, and time will do its work and lift values. The critical thing is to have the courage of your initial convictions, and stay the course. Yes, yes, I know, the Japanese banks are still waiting, but no waiting is required, it seems, in Luggate.

Readers, take a good long draught of Choysa : Delta had TWO choices in 2012 : Sell the land for basically nothing ($1M vs a total Delta investment of around $7M), or…wait until the market improves. Of course, Delta chose to destroy ratepayers’ funds value in a desperate attempt to show ratepayers they had “moved on” and it was all a bad dream –

If Delta had an ounce of the foresight of someone like Mr Dippie, who has been both very successful, and also very patient at times, they would have held the land. A few facts about the land – the 42 entry level sections to be sold in the next stage will be worth around $6M, added to the $9.17M of the 22 premium sections, gives a total of $16.2M. There possibly could be further sections that would increase the value, but the glass is dark on this detail.

After allowing for subdivision infrastructure and selling costs, the land that Delta sold for $1M three years ago would now realise them $9-10M. Yes readers, Delta could have made a genuine, non Aurora subsidised profit and got the civil work they wanted, at good prices. They could have even paid Mr Boult’s bank debt off, paid off the $1.935M bank loan, some interest to DCC treasury and the entire $5.5M advance and still have a bit left over.

What possessed them to act like lemmings jumping off a financial cliff ? Two words … Denham Shale. Mr Shale was the alleged heavy hitter brought in to clean up the Dunedin City Holdings Ltd (DCHL) and Delta mess after the Larsen report in 2011, along with Mr Bill Baylis and others. He knew even less about property development than the likes of Mr Ray Polson. L for Learner developers indeed. As Mr Hunter exclaimed, turnip acuity was all around. Mr Shale was of the school that says when you have a mess, a clean out, not a clean up is needed…. A clean up keeps the items that have a chance of retaining value. Mr Shale told Mr Polson to write down the value of Luggate and get shot of it in April 2012. Mr Polson, being the invertebrate mild mannered accountant he is, then parroted that line to the Delta board a month later. The rest is well known. A bath. This is all in the Auditor-General’s report, in Section 6, for readers that doubt your correspondent.

Mr Denham Shale’s legacy to the City of Dunedin is a $8-9M loss due to turnip advice (aka profoundly stupid advice) to sell land for a fraction of its cost and value. Any developer or person involved in land in Central Otago for any length of time has seen huge fluctuations in value, generally in a 7-year cycle… Your correspondent is one such person, who lays no claim to visions of the future, but who has had to hang tough for extended periods in Central Otago on various deals.

All Delta had to do was talk nicely to DCC Treasury, to explain the $5.5M advance they gave Delta was a couple more years away – they had already waited for five years, who’s counting anyway ? Make an offer to Mr Boult of his 50% share of slightly more than the $1M they received (he had already asked Delta to buy him out having seen the Delta trough was empty), and start paying interest on the $1.935M bank loan. Not difficult. But required some vertebrates.

Mr McLauchlan, Mr Shale, Mr Cameron and the other directors, yes, they all displayed “commercial acuity about as sharp as a turnip”. –How I love that phrase ! This band of Delta Directors could not grasp what to Mr Dippie is as natural as breathing – that they stopped making land a long time ago, around the time of the flood and Noah’s Ark. That people want to live in Central Otago, so therefore the land price will rise, maybe not when you think, but given time rise it will. This, Mr Shale, Mr McLauchlan, and (2014 Young Director of the year) Mr Cameron is called, SUPPLY & DEMAND. Your elementary lack of foresight and myopia has cost the City of Dunedin millions. L is for Learner, T is for Turnip. Which one applies, readers ?

[ends]

Election Year : This post is offered in the public interest. -Eds

Related Post and Comments:
30.4.16 Luggate à la Dunedin’s lad, Dippie

Auditor-General’s overview
Inquiry into property investments by Delta Utility Services Limited at Luggate and Jacks Point. Access the Auditor-general’s full report here:
http://www.oag.govt.nz/2014/delta

*The ‘Auditor-General’s overview’ states (page 5):
“Delta lost about $5.9 million on the Luggate investment and has projected a loss of about $2.8 million for Jacks Point. These losses are before tax, and Delta expects that they might yet be off set by tax credits of about $1.5 million for Luggate and about $0.8 million for Jacks Point. If so, the overall loss would be about $6.4 million.”

█ For more, enter the terms *delta*, *luggate*, *jacks point*, *auditor-general* or *noble* in the search box at right.

Posted by Elizabeth Kerr

Image: pinterest.com – turnip

4 Comments

Filed under Aurora Energy, Business, DCC, DCHL, DCTL, Delta, Democracy, District Plan, Dunedin, Economics, Finance, Geography, Housing, Infrastructure, Media, Name, New Zealand, OAG, Ombudsman, People, Politics, Project management, Property, Public interest, Resource management, Site, Town planning, Transportation, Travesty, What stadium

Luggate à la Dunedin’s lad, Dippie

L-plate [roadcodepractice.co.nz] 1

The jovial CD was driving towards Dunedin this morning…. gave me a wake-up call to foreshadow a new post pending for that old spectre : “L” for Luggate, or learner plates for Delta Directors and Mr Cameron.

Yessss. While the Noble subdivision at Yaldhurst heads for the rocks, it appears DCC Ratepayers have been doubly triply shafted at Luggate. Anyway, won’t steal CD’s thunder. He is in the offing!

Sat, 30 Apr 2016
ODT: Former Delta sections in Luggate hot property
Part of the big Luggate Park subdivision that lost Dunedin City Council-owned infrastructure company Delta $5.9million before tax in 2012 is being advertised for sale. The 22 sections in “Luggate Heights”, near Wanaka, range in price from $325,000 to $495,000, providing the owner, Willowridge Developments Ltd, with a potential gross return of $9,170,000. Similarly-sized sections at lower altitudes nearby were selling for as little as $128,000 five or six years ago.

Willowridge, owned by Allan Dippie, bought the 50ha, 160-section Luggate Park development last year from Auckland development company Dentils Ltd, which was unsuccessful in attempts to sell the sections. Dentils had bought the development from Delta and Queenstown property developer Jim Boult.

█ Willowridge Developments Ltd http://www.willowridge.co.nz/
█ LUGGATE PARK http://luggatepark.co.nz/

Luggate Park - Willowridge

Auditor-General’s overview
Inquiry into property investments by Delta Utility Services Limited at Luggate and Jacks Point. Access the Auditor-general’s full report here:
http://www.oag.govt.nz/2014/delta

█ For more, enter the terms *delta*, *luggate*, *jacks point* and *auditor-general* in the search box at right.

Posted by Elizabeth Kerr

*Image: roadcodepractice.co.nz – ‘L-plate’

6 Comments

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ELEMENTAL | UC Innovation Center

An open and eco-friendly university building.

Location: San Joa­quín Cam­pus | Uni­ver­si­dad Ca­tó­li­ca de Chi­le | San­tia­go, Chi­le
Client: Grupo Angelini | Pontificia Universidad Católica de Chile

Category Winner: Architecture
Designs of the Year 2015, Design Museum, London

Architects: ELEMENTAL (Chile)

“Santiago’s climate requires to change the conventional approach to working space design. We substituted the contemporary typical glass skin, responsible for serious greenhouse effect in interiors, for a thermal mass on the perimeter that avoids undesired heat gains. On the other hand, innovation and knowledge creation requires increasing encounters among people, so openness is desired. We multiplied open air squares throughout the building’s entire height and proposed a permeable atrium core so that while circulating vertically, people could see what others are doing. This reversed placement of opaqueness and transparency is the way sustainability and human relationships informed the form.”

Construction Year: 2012-2014
Budget: USD 18 million

CIAA_01
CIAA_06
CIAA_14
CIAA_15

ELEMENTAL (Alejandro Aravena, Gonzalo Arteaga, Juan Cerda, Victor Oddó, Diego Torres) is a Do Tank founded in 2001, focusing on projects of public interest and social impact, including housing, public space, infrastructure and transportation. A hallmark of the firm is a participatory design process in which the architects work closely with the public and end users. ELEMENTAL has built work in Chile, the United States, Mexico, China and Switzerland. After the 2010 earthquake and tsunami that hit Chile, ELEMENTAL was called to work on the reconstruction of the city of Constitución, where we had to integrate all the previous experiences. The approach we developed proved to be useful for other cases where city design was used to solve social and political conflicts. At the moment, we keep on expanding into new fields of action.

█ Website: http://www.elementalchile.cl/

Photography: Cristobal Palma, Felipe Diaz Contardo (www.fotoarq.com), Nina Vidic, Nico Saieh

Social housing, Incremental housing, Half a good house instead of a small one…. Housing as investment

Kosovo Architecture Foundation Published on Oct 8, 2015
Prishtina Architecture Week 2015, Day 4, Alejandro Aravena
Principal of Alejandro Aravena Architects, established in 1994 and, since 2006, Executive Director of ELEMENTAL, a for profit company with social interest working in projects of infrastructure, transportation, public space and housing, partnering with Universidad Catolica de Chile and COPEC, Chilean Oil Company.

He has been member of the Pritzker Prize Jury since 2009. The laureates chosen during his presence in the Jury have been: Peter Zumthor (2009), SANAA Kazuyo Sejima (2010), Eduardo Souto de Moura (2011), Wang Shu (2012), Toyo Ito (2013) and Shigeru Ban (2014). He was named Honorary International Fellow of the Royal Institute of British Architects (RIBA) in 2009; member of the Board of the Cities Program of the London School of Economics, London, since 2011; Regional Advisory Board Member of the David Rockefeller Center for Latin American Studies;

Board Member of the Holcim Foundation, Zurich, Switzerland, since 2013; Foundational Member of the Chilean Society of Public Policies; Leader of the Helsinki Design Lab for SITRA, the Finnish Innovation Fund for the Government of Finland to design a national strategy towards carbon neutrality; and Board Member of Espacio Público, an independant chilean research center created in 2012. He was one of the 100 personalities contributing to the G+20 Rio Global Summit in June 2012, and was one of the speakers of TED Global 2014 in Rio.

Aravena was recently named as the Director of the 15th Architecture Exhibition of the Venezia Biennale.

Posted by Elizabeth Kerr

ELEMENTAL housingELEMENTAL | Participatory design, social modelling for housing

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DCC: DCHL on Waipori Fund

Dunedin City Council – Media Release
Positive Result for Waipori Fund

This item was published on 22 Jul 2015

The Waipori Fund performed strongly in the past financial year while meeting key targets. The fund’s capital base for 2014/15 is above its inflation adjusted target for the first time since 2008.

The fund is managed by Dunedin City Treasury Limited, a company owned by Dunedin City Holdings Limited (DCHL). DCHL is in turn is owned by the Dunedin City Council.

DCHL Chair Graham Crombie says this is an important measure because it shows the fund’s capital base is not being eroded. “As well as a good overall return for the year, it’s very pleasing to see the fund achieve this threshold.”

The fact the fund reached the target in the past financial year was mainly due to strong equity in the bond markets and a weakening New Zealand dollar.

The market value of the investment portfolio was $81.6 million at 30 June 2015. This was a 13.1% return for the year. This return also met the income objective of exceeding the official cash rate plus the consumer price index.

The graph below shows the progress of the fund since its establishment. The fund was created from the sale of the Waipori electricity generation scheme. It provides a source of revenue for the Council which can be offset against rates.

Waipori Fund
waipori-fund

Contact Group Chief Financial Officer on 477 4000.
DCC Link

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The distribution to council was budgeted to increase slightly over the period of the council’s 10-year plan.

### ODT Online Fri, 24 Jul 2015
DCC has no plans to spend surplus in Waipori Fund
By Chris Morris
The Dunedin City Council is celebrating a better-than-expected 13.1% jump in the value of its Waipori Fund, but has no plans to spend the bonus. […] Council group chief financial officer Grant McKenzie said the “solid” result reflected strong equity in bond markets and a weakening New Zealand dollar. […] “It’s just a funding stream for council.”
Read more

Posted by Elizabeth Kerr

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