DELICATE ECONOMIES: CRUMBLING INFRASTRUCTURES...
DRAFT 1
‘Finance’ amongst architects has become a controversial topic; a conversation which is less encouraged. With many architectural practices enthralled by the dynamics of capitalism and a limited number of clients able to afford their services one wonders what society/population are we being of service to? Architecture is expensive, with a fee structure that is outdated like some of the methods in which is being practiced. A pursuit after critical acculaude which treasures novelty amongst a small closed band of practitioners is becoming a thing of the past. In this project I’ll be exploring the relationship between finance and architecture. How can architecture rise as a system of interdependency between the existing financial structures and community aspirations to enrich places and spaces for human delight?
According to the Economist editor using data compiled by Eurostat on the household expenditure; a country’s spending could be a reflection of its national stereotypes: Russians splash 8% of their money on booze and cigarettes—far more than most rich countries—while fun-loving Australians spend a tenth of theirs on recreation, and bookish South Koreans splurge more than most on education. Some of the differences are accounted for by economics. Richer places like America and Australia, where household expenditure is around $30,000 per person, will tend to spend a smaller share of their costs on food than Mexico and Russia, where average spending is around $6,000. And politics plays a part too. Predominantly private health care in America eats up over a fifth of each household’s budget, whereas the European Union, where public health care is common, only spends 4% on it. In Russia, government-subsidised housing and heating make living cheaper, and this means money is left over for the finer things in life.
Average Salaries (a year): London £30000.00 New York $ 63000.00 Hong Kong HK$ 382,000.00 Singapore S$72000.00 Tokyo ¥ 3,96000.00 Seoul ₩ 3,417000.00 Zurich CHF95000.00 Toronto C$ 53000.00
The Wharf_ Richard Beecham_ 06 August 2015
BBC_ 28 January 2015
Londonist_ Beth Parnell Hopkins_ 27 July 2015
The Economist_ 21 February 2015
Crisis of confidence over Isle of Dogs’ One Housing Group Council suspends preferred partnership status and social housing group prepares to replace its 2,000 homes with 8,000, selling to high earning Wharfers Housing Group Censured For Breaking Promises In the latest of London’s troubled regeneration schemes, Tower Hamlets Labour Group has called for the immediate suspension of one of the borough’s preferred housing association partners, One Housing Group.
The Guardian_ Gaby Hinsliff_ 25 September 2015
The new right to buy is solving 1979’s problems at today’s expense. This Thatcherite policy revival fails to recognise that the main cause of the housing crisis is affordability
Canary Wharf: Qatar bid wins battle: A Qatari-led bid has won the battle to take over London’s Canary Wharf complex after three of its major shareholders agreed to accept the £2.6bn offer. Building on the boundaries: There is a pattern to London’s big developments...
The Economist_ 15 February 2014
The ascent of the city: The capital’s skyline is a growing mess. Let Boris sort it out
The Guardian_ Julia Kollewe_ 28 January 2015
Canary Wharf to be bought by Qatar Investment Authority: QIA, along with Canadian group, likely to have bid worth £2.6bn accepted for LonZoopla boss warns of poor housing supply as property website unveils record don Docklands complex The Telegraph_ Eleanor Steafel_ 02 December 2015
revenue and profits. Property website announces record year despite taking hit from arrival of OnTheMarket
The Independent_ Damian Clarkson_ 7 August 2015
Northern Powerhouse has ‘long way to go’ before people benefit. A key test of its success ‘must be how it translates into higher living standards’
Financial Times_ Conor Sullivan_ 22 October 2015
London eyes eastern promise of 200,000 homes Reuters_ Thomas Atkins; ed Mark Potter_18 June 2015 Deutsche Bank to move 4,000 workers to Canary Wharf
City
Price to Income Ration
Gross Rental Gross Rental yield City Cen- Yield Outside tre of Centre
Price To Rent Ratio City Centre
Price To Rent Mortgage As A Affordability Ratio Outside Percentage Of Index Of City Centre Income
London
30.53
2.54
2.69
39.29
37.16
218.10
0.46
New York
25.05
3.19
4.12
31.36
24.26
182.03
0.55
Hong Kong
45.40
1.55
2.37
64.58
42.23
299.68
0.33
Singapore
23.87
2.67
3.18
37.38
31.43
147.86
0.68
Tokyo
22.99
2.31
2.35
43.30
42.47
138.47
0.72
Seoul
16.81
1.88
3.08
53.08
26.30
126.92
0.79
Zurich
10.08
2.57
3.34
38.84
29.93
60.50
1.65
Toronto
11.23
4.24
3.36
23.61
29.81
75.59
1.32
Primary Energy Consumption in MWh per capita Source: UN website
Population Growth Per Hour Source: The Economist website
Population in millions
Source: UN website_Department of Economics and Social Affairs: Population Division
Country Market Size (2015) Source: Bloomberg Website
World GDP* Growth 2015 Norway
Sweden Finland
NORTH AMERICA 3.2 %
Canada 1,156
WESTERN EUROPE 1.4 %
Denmark Poland
Netherlands
Germany 1,194
United States 19,731
France 1,313
Russia
EASTERN EUROPE 2.1%
Japan 3,006
Switzerland 1,275
South Korea ASIA China 889 (excl.Japan, Australia and New Zealand) Italy Turkey Spain 6.0% MIDDLE EAST/NORTH AFRICA Taiwan Hong Kong India 4.1%
JAPAN 1.6%
Thailand Malaysia
Phillipines
Singapore
AUSTRALIA 2.7%
SUB-SAHARAN AFRICA 4.5% Australia South Africa
Country Market Size 2015
Among the many factors which have contributed to the change in character of the Island, one of the more recent contributor to the appearance of the on the Ise of is by ‘One Housing Group’ and more recently in the news the ongoing controversial ‘Project Stone’. Though the development have enhanced the character of the place, one wonders what are they catering for and who is being privileged... The above map is a speculative study of current housing, business and urban regeneration proposals on the Isle of Dogs, this is juxtaposed by the map developed by the dissolved LDDC
Compares the return on labour to the return on capital. Essentially, once the economy reaches a moment that the return on capital is larger than the return on labour, there is no hope at all. By working you can only get poor, no matter how hard you work... there is no way of ever making up to the discrepencies, the inequalities that preval in society, the clock and the major will always be ticking hard with those who have the money than with those who are trying to obtain it. Growth rate of top global wealth, 1987-2013 Average real growth rate per year (after deduction of inflation)
3.3%
World GDP
1.9%
World adult population
1.4%
Average world income per adult
2.1% 6.5% 6.8%
Globalization
Unprecedented rise of managerial compensations
Average wealth per adult Top 1(20 million) highest wealth holders Top 1(100 million) wealth holders
A race between technlogy and education
Changing Supply and Demand
Unequal access to skills and education
The Structure of Wealth Inequality_Britain 1810-2010 London County Council: Largest Architectural Firm The Great Era of Town Halls Social Mission of Architecture Urban Utopias
100% 90% Top 10% Wealth Share
80%
Top 10% Wealth Share
70% 60%
Top 1% Wealth Share
50% 40%
Top 1% Wealth Share
30% 20% 10% 0%
1830
1810
1850
1860
1870
1910
1930
1950
1990
1970
2010
6% Pure rate of return on capital (after tax and capital losses)
5%
Pure rate of return on capital (after tax and capital losses)
4%
3%
2% Growth Rate of world output
1% Growth Rate of world output 0%
0-1
00
0
100
0-1
500
150
0-1
700
170
0-1
820
182
0-1
913
191
3-1
950
195
0-2
012
201
2-2
050
House Prices
Social Inequality
Public Construction
Private Construction Debt Wages
205
0-2
100
Books & Urban Utopias 1915-1970 could be seen as reflecting on the nature of the city. Where the city is being idealised as a tool for the emancipation of people. These were some of the following books which we released during that period: Pruitt Igoe Delirious New York Dark age ahead-Jane Jacobs Learning from Las VegasCollage City The period of 1914-1989 was a time where architecture was driven by somekind of ‘Social Mission’ where in the UK the was a great deal of emphasis on social housing and a great deal of public construction; it was during this period that the London Country Council was the biggest architectural office.
Buildings are a means to an end, a speculative investment, we used to make buildings, we currently contribute to real estate wehther we like it or not, thus the very same building are prime drivers where capital play devidence. Theferefore the nature of the profession is enthralled by the dynamics of capitalism and driving a rise of specialisation instead of training minds to become a profession which synthesise various forces operating in society in production of something value.
Architectucture The ‘Community’ of Isle of Dogs Community is a word frequently used in architecture however it is the least understood. Is community about promoting the agenda of a particular group i.e be race, religious, social, political, economic? Community has served as a way of legitimising several groups and movements; such as Team 10, Pendecht, New Urbanism, Larry Beasley e.t.c At a point in history community was clearly defined as a progression from the neighbourhood-the city/village-to the nation. Since globalisation everything took a different turn; extreme population increase in some cities, economy og a corporation equivalent to a small nation. Today communities are more than just a clearly defined territory, but rather an economic interdependence “...the appropriateness of any solution may lie in the field of architectural invention rather than social anthropology...”
Vancouverism. ”... an entrepreneurial and exportable model for building a city...”
2 October 2015
Perspective Location
Start 14:20_ 0.0mile
Greenwich Foot Tunnel(Island Gardens) Corner Shop: Coffee+Cake+Conversation
The Car Mechanics: Repurposed Viaduct Abandoned Victorian Toilets Stop Over @ friend's house (gated community) Empty Site_ PA/07/03174 Estate Agent_ Discussion Local Resident 1 Young professional_Dog Walking Launching Ramp_Great Eastern Ship River Walk
Location 2: 51.493889, -0.026537 52-70dB 17° C
Accessing Private Land leading to West Ferry Road The Space(Performing arts and community centre) Docklands Sailing and Watersports Centre Telegraph & Express Print Works Telegraph & Express Print Works_ to be demolished_ PA/15/02216 Obsolete cranes forming part of landscape furniture
Location 3: 51.495541, -0.014028 64-81dB 16.50° C
Pepper Street_ Glengall Bridge Oakland Quay Amenities_ Crossharbour DLR Station Tailors & Dry Cleaning The George Public House
Greenwich Foot Tunnel(Island Gardens) London E14, UK 51.486645, -0.009191
Health Centre
Location 1: 51.487381, -0.019736 54-72dB 17.5° C
ASDA Supermarket Mudchute Park Finish @ Crossharbour DLR 2.5miles
Mudchute Farm
Local planning map and existing infrastructure. According to the proposals made to the council, it’s evident that the majority of forthcoming developments will be focused on increasing the business district further and also for creating more houses.
Property Value Indicator Proposed Open Public Space Key Existing Open Public Space Safeguard Wharf
H
Neighbourhood Centre
H H
H H
H
P
P
Primary School
S
Secondary School
ID001
Development Site Thames Path Walk
H P
Proposed Health Centre
Educational Centre
L P
Health Centre
Jubilee Underground Line
P
Bus Routes DLR Bicycle Routes
P
Cross Rail
H
P
P
Housing Industrial Site Employment Areas
S
Parks Proposed Development Sites
Population Age Groups 4%_ 65+yrs
Average Price of Property
16.2%_ 0-15yrs 427k
Average Age of Resident
Average Reported Crime 355
34
79.8% 16-64yrs
Resident Health Access to Green Spaces
Local Amenities
Population Ethnicity 22.6%_ All Other
33.5%_ White British
Average Price of Property
5.6%_ Black
369k
Average Age of Resident
Average Reported Crime
376
19%_ White Other 14.6%_ Asian
34
4.6%_ Mixed
Access to Green Spaces
Resident Health
Population Labor Market Paticipation Local Amenities
2.9%_ Other
5.4%_ Looking after home
2.7%_ Long Term Sick
3.5%_ Retired
Average Price of Property
11.3%_ Students
68.7%_ Employed
5.4%_ Unemployment
Av er
ag
eA
ge
of
223k
Re sid
en
t
ge
32
Population Housing Tenure 29.8%_ Owner Occupier
1.5%_ Living Rent Free
s to
ces
Ac
45.7%_ Private Rented
Old Bellgate Place E14 ROI(5years) 42.63% PCM: £2250
ces
Re sid
en
Local Amenities
Crossharbour_ Baltimore Wharf E14 ROI(5years) 42.63% PCM: £2350
rted
o Rep
pa
nS
ee Gr
281
ra Ave
tH
23%_ Socially Rented
Property Type(E14)
Detached House Semi-detached House Terraced Flats
Avg Price_Sqr Feet £643 £614 £643 £769
Mixed Housing(Gated & Private Homes) Gated Homes Mixed Housing(Council Owned & Private Homes)
Burrells Wharf Square E14 ROI(5years) 42.63% PCM: £2275
Council Owned Homes Private Homes
ea
lth
e
Crim
ONE HOUSING GROUP
The Wharf_ Richard Beecham_ 06 August 2015
Crisis of confidence over Isle of Dogs’ One Housing Group
Council suspends preferred partnership status and social housing group prepares to replace its 2,000 homes with 8,000, selling to high earning Wharfers
Londonist_
Beth Parnell Hopkins_ 27 July 2015
Housing Group Censured For Breaking Promises
In the latest of London's troubled regeneration schemes, Tower Hamlets Labour Group has called for the immediate suspension of one of the borough's preferred housing association partners, One Housing Group (OHG).
The Guardian_ Gaby Hinsliff_ 25 September 2015
The new right to buy is solving 1979’s problems at today’s expense
This Thatcherite policy revival fails to recognise that the main cause of the housing crisis is affordability
The Telegraph_
Eleanor Steafel_ 02 December 2015
Zoopla boss warns of poor housing supply as property website unveils record revenue and profits Property website announces record year despite taking hit from arrival of OnTheMarket
The Independent_ Damian Clarkson_ 7 August 2015
Northern Powerhouse has 'long way to go' before people benefit A key test of its success 'must be how it translates into higher living standards'
Glengall Grove, London E14 £2500 = 1m
£2500 = 1m
Area Statistics: 2015 Sales: 1166 Average Price Paid: £460k Value change: £42k_ 8.79% Current Average Value: £522, 843
Average Home Values E14 Average
UK Average
£500k
£400k
£300k
£200k
2012
2013
2014
2015
2016
3M 39
eho
9mph
62
Diox
h
58
Bl a
Rea c
g en
use
Nitro vels-O
10mph
zone
44
ll R eac
te Le
ckw a
odera ideM
12mph ph
(PM10
h
)
57
+5m
4M
0m
14mph
12mph
Ozone
(PM10)
48
Levels-
6M
58
10mph
m
-30
DioxideM
oderate
10mph
47
Nitrogen
10mph
10m
Lim
7M
12mph
9mph
App
9mph
12mph
rox Gro
15mph
ph
Lev
m
13
und
48
el
48
13mph
33
Millwall Park 06 July-Present Nitrogen Dioxide-Ozone (PM10)
2.1m
54
3M 10mph
5M
54 46
12 68 57 41
4M Latitude: 51.4876906 Longitude: -0.021425 Date: 13/10/2015 Time: 18:48 Azimuth: 265.41째 Elevation: -6.39째
Greenwich Reach 67
Environment
Burrell Wharf 51.4876906°N 0.021425°W Decibels: 65-72dB 04 October 2015_18:15
Air Impurities levels
Millwall Park 06 July 2015-Present Nitrogen Dioxide-Ozone (PM10)
10mph
Wind Speeds 5 Oct-6Oct 2015
Sun Trajectory 07:44-5.7m Thu 1st Oct
Fri 2nd Oct
Sat 3rd Oct
Sun 4th Oct
Mon 5th Oct
Tue 6th Oct
Wed 7th Oct
Historical Fluvial Outline
Geology Section Location 51.495033”N -0.014410”W Made Ground- Granular
Alluvium Deposits
River Terrace Gravel
5m Approx-Ground Level 0
Lambeth Group Beds-Granular Thanet Sand
-5m
Chalk
Surface Temperature
Depth
-15m
5m 10m -25m
15m 20m
Feb
May
Nov
Aug
DLR_T o Le Appro wisham x: 10m in
DLR_T oC Appro .London x: 15m in
E
5sec
d
oa
yR
err
F ast
0:00
5sec
Location: 51.495541, -0.014028
Various types of pavement hich can be seen as defining a neighbourhood spatial quality