Architecture is a cyclical business. Just five years ago, the industry was down in the depths, and now the profession, by most measures, is rebounding.
Signature architecture is central to this trend. High-profile architects add value and reduce risk for developers. Pritzker Prize–winners Christian de Portzamparc, Jean Nouvel, and Herzog & de Meuron have all designed Manhattan condo towers that hover around 1,000 feet tall, while the city's tallest dwelling so far, 432 Park Avenue, by Rafael Viñoly (1,396 feet), will be completed this year. Others even taller are waiting in the wings, by SHoP and Adrian Smith + Gordon Gill. Miami, another hot spot for high-end condos (if not nearly as high as New York's) has seen growing demand from second-home buyers, including many from Latin America, with residential buildings planned or under construction by Zaha Hadid, Rem Koolhaas, Richard Meier, and Bjarke Ingels. And in Chicago, Jeanne Gang recently unveiled a new 1,100-foot-high residential/hotel complex. We are living in a New Gilded Age, and you can read more about it in this issue of RECORD.
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