Home Builder Developer - Interior Renovation and Design

It's an age old question we continue to ponder: What actually defines art?

A $20,000 drawing prize was awarded to an installation made of carpet on Tuesday night.

'State Block' is suspended from the roof at a height of almost 5m.

Artist Kirsty Lillico says it's abstract. "It's based on a modernist apartment block in Auckland on Symonds St, and it explores the legacy of modernist architecture," she told Newshub.

Ms Lillico says there's more to the hanging carpet than you might think.

"I guess I sort of think about how we occupy space in buildings, and that's the kind of space we occupy, and these are the walls and everything else," Lillico said.

The Parkin prize is given out for exceptional drawings. This year 500 entries were whittled down to 80 for the exhibition.

And if you don't think carpet should count, let alone win, the Wellington judges think you're wrong.

Founder Chris Parkin says he "doesn't care" if people are critical of the piece.

"I mean at the end of the day you put a knife into a bit of carpet, you actually draw a line," he told Newshub.

"That line wanders, it creates an image."

He also points out it might come in handy later - for him to use.

"We've got the same make of carpet in our house so I suppose if we get a bit short or a few holes, we can always put that down," Mr Parkin joked.

For Ms Lillico, the win was her third time lucky - this really was a magic carpet.

She says her victory will spark debate. It might also inspire carpet layers around the country.

Newshub.

Originally posted here:
Carpet installation wins $20k drawing prize | Newshub - Newshub

Kirsty-Lillico, State Block (all images courtesy Parkin Drawing Prize)

The winner of New Zealands premier award for drawing this year was made not with pencil, charcoal, ink, or any other traditional drawing tool, but with carpet large, cut-up scraps of it, piled on the floor and draped over a string. Wellington artist Kirsty Lillicos State Block earned her the top spot in the annual Parkin Drawing Prize as well as NZD20,000, beating over 500 entries submitted by other New Zealanders, almost all of whom produced more conventional works on paper.

Its based on a modernist apartment block in Auckland on Symonds St., and it explores the legacy of modernist architecture, Lillico told Newshub. I guess I sort of think about how we occupy space in buildings, and thats the kind of space we occupy, and these are the walls and everything else.

Launched by Chris Parkin, an art collector and owner of Wellingtons Museum Art Hotel, the Parkin Drawing Prize promotes drawing in all its forms as discovery, a testing of ideas, and decision-making. Submissions this year ranged from a realist sketch of a flying squirrel by Margaret Silverwood to an installation of drawings wrapped in tissue and placed on the lid of an archive box by Wendy Bornholdt. In the awards four-year history, Lillicos assemblage is arguably the winning work thats least like a drawing: previous recipients include an India ink and charcoal drawing by Hannah Beehre; a graphite floor piece by Gabrielle Amodeo; and a charcoal image of astronomer Edwin Hubble that turned out to be acopy of a famous photo by Margaret Bourke-White.

Yes, I know, Magrittes pipe, Duchamps toilet, etc. But in the context of a national contest thats based on a specific category, should one, ahem, drawthe line somewhere? If I take a photograph, could I say I drew with light or even emulsion and submit it? Isnt there a difference between an artwork that can be construed, as an afterthought, as a drawing and a piece that seriously examines what a drawing is or can be?

This years prize shortlisted 84 artworks, including sculptures, installations, and digital works, but each of those features some clear association with or meditation on the line. Karyn Taylors Arc in 3 States, for instance, shows an arc (a kind of line!) as a sculpture, a light, and a shadow. Her piece was one of the 10 works that received a $500 merit award.

Lillico told Stuff.co.nzthat she sort of re-representeda drawing made by someone else. Drawing, to me, its not just about a pencil and paper. Im using a knife and carpet and hanging it in a space to achieve the same ends.

And heres how the prizes judge, Searaphine Pick, described the work, according to a press release:

Kirsty Lillicoss work State Blockis challenging, brave and impressive. Her use of salvaged carpet for surface material to draw into it with a knife a blueprint plan of a 1940s modernist high-density concrete block of flats, then presenting it by hanging and draping it from floor to ceiling and transforming the blue print into a three dimensional drawing in space as a floppy, soft and bodily object quite the opposite to the hard-edged concrete Brutalism style building the plan was designed for people to live in.

Sure cutting, drawing, its all just semantics! Maybe its time for the Parkin Drawing Prize to just rebrand as the Parkin Conceptual Art Prize.

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Cut-Up Carpet Wins New Zealand Drawing Prize - Hyperallergic

Mohawk Industries (NYSE: MHK) and Interface (NASDAQ:IFSIA) are both consumer discretionary companies, but which is the better stock? We will compare the two businesses based on the strength of their profitabiliy, analyst recommendations, dividends, valuation, risk, institutional ownership and earnings.

Analyst Recommendations

This is a summary of current recommendations and price targets for Mohawk Industries and Interface, as provided by MarketBeat.com.

Mohawk Industries currently has a consensus price target of $266.50, indicating a potential upside of 6.23%. Given Mohawk Industries higher probable upside, equities research analysts plainly believe Mohawk Industries is more favorable than Interface.

Valuation and Earnings

This table compares Mohawk Industries and Interfaces gross revenue, earnings per share (EPS) and valuation.

Mohawk Industries has higher revenue and earnings than Interface.

Profitability

This table compares Mohawk Industries and Interfaces net margins, return on equity and return on assets.

Insider and Institutional Ownership

77.0% of Mohawk Industries shares are owned by institutional investors. 17.1% of Mohawk Industries shares are owned by insiders. Strong institutional ownership is an indication that endowments, large money managers and hedge funds believe a stock is poised for long-term growth.

Summary

Mohawk Industries beats Interface on 8 of the 8 factors compared between the two stocks.

Mohawk Industries Company Profile

Mohawk Industries, Inc. is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring. The Global Ceramic segment designs, manufactures, sources, distributes and markets a line of ceramic tile, porcelain tile and natural stone products used in the residential and commercial markets for both remodeling and new construction. The Flooring NA segment designs, manufactures, sources, distributes and markets carpet, laminate, carpet pad, rugs, hardwood and vinyl. The Flooring ROW segment designs, manufactures, sources, distributes and markets laminate, hardwood flooring, roofing elements, insulation boards, medium-density fiberboard (MDF), chipboards, and vinyl flooring products.

Interface Company Profile

Interface Inc. is engaged in design, production and sale of modular carpet, also known as carpet tile. As of January 1, 2017, the Company marketed its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company operates through three segments: Americas, Europe and Asia-Pacific. The Company distributes its products through two primary channels, including direct sales to end users and indirect sales through independent contractors or distributors. The Company sells an antimicrobial chemical compound under the trademark Intersept that the Company incorporates in all of its modular carpet products. It also sells its TacTiles carpet tile installation system, along with a range of traditional adhesives and products for carpet installation and maintenance that are manufactured by a third party. It also provides turnkey project management services for national accounts and other customers through its InterfaceSERVICES business.

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Interface (IFSIA) vs. Mohawk Industries (NYSE:MHK) Head-To-Head Contrast - The Cerbat Gem

The UFO Factory sits on Trumbull Ave., across from the old Tiger Stadium site and sits in the center of the Elton Park residential and retail development.(Photo: Sarah Rahal/The Detroit News)Buy Photo

Detroit UFO Factory abruptly closed Wednesday after a construction incident damaged the building.

Owners of the rock club and bar at 2110 Trumbull in Corktown said the damage happened at 11:30 a.m. Dion Fischer, one of three owners, said three employeesfelt the collision.

"We were open," Fischer said. "I had about three workers here and thankfully no customers, but they felt and heard it and ran out."

A large crack in the side of the UFO Factory was caused when Elton Park retail construction workers struck the building with a cement mixer on Wednesday, Aug. 2, 2017. (Photo: Sarah Rahal/The Detroit News)

Construction crews were digging next to the UFO Factory building when a cement mixer struck the building, witnesses said.Workers were making space next toUFO Factory for a $44 million Elton Park retail and housing development.The project consists of 151 housing units and 124,000 square feet of retail.

The incident damaged the building's foundation, making it a safety hazard to stay open, said Aliccia Bollig-Fischer. She was uncertain if the club and bar would reopen at the site.

Fisher said the building dates to 1938, so he wasn't surprised how quickly the building began to shift after the hit.

The owners took over the building in 2012. In 2014, they opened the UFO Factory, which is known as a dive bar with arcade games andLaika Dog, which serves artisan hot dogsalong with beer and grilled cheeses.

"You won't get your hot dogs for a while," said Bollig-Fischer. "We would intend to get back open, but we need to wait for the contractor and insurance company to see how bad this is."

Bollig-Fischerordered construction workers to stop working until insurance inspectors could see the damage. When she returned outside, she saw the workers filling the hole they had created. She began yellingat construction workers, saying, "This is criminal. Stop," as she called police.

Aliccia Bollig-Fischer, 45, right, one of three owners of the UFO Factory is busy making phone calls after construction workers struck the building with a cement mixer, cracking the entire side wall.(Photo: Sarah Rahal/The Detroit News)

"I just don't want them to tamper with it," Bollig-Fischer said. "They are filling in the hole and weneed to get it inspected. We didn't request they do anything to help our building."

Abenefit for UFO Factory employees at El Club startat 7 p.m. Monday. Admission is freeand proceeds from food and bar sales will be donated to the employees.

A GoFundMesite has been set up with a $15,000 goal to give each of the 15 employees $1,000. It has raised $3,500 as of Wednesday evening.

srahal@detroitnews.com

Read or Share this story: http://detne.ws/2wmUQmq

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UFO Factory closes after construction incident - Detroit News - The Detroit News

Cincinnati Business Courier

Liberty Center lender raises concern about occupancy rates Cincinnati Business Courier Liberty Center, the $350 million mixed-use development in Butler County, could be turning into a problem child for the New York-based company that financed the construction of its retail space, WCPO reports. The CEO of Apollo Commercial Real Estate ...

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Liberty Center lender raises concern about occupancy rates - Cincinnati Business Courier

The UES is facing a retail vacancy epidemic

Availability is climbing on Third and Madison avenues faster than anywhere in the city: TRD analysis

In the heart of retails Gold Coast on the Upper East Side, the space that once housed trendy dress shop BCBGMAXAZRIA collects dust. The retailer called the five-story townhouse home at 770 Madison Avenue for over a decade, but shut the doors in February amid a larger corporate bankruptcy. The landlord has yet to find a replacement.

Over on Lexington Avenue, there are four retail vacancies near the corner of East 85th Street. And on the 13-block stretch of 3rd Avenue between East 70th and 83rd streets, there are only two blocks that arent marred by at least one empty storefront.

Manhattans streets are awash with empty storefronts after retail asking rents climbed to untenable levels and tenants started to push back. But the sheer number of vacancies on the Upper East Side is alarming: The Real Deal counted 82 empty storefronts along Madison, Lexington, Third and Second avenues between 57th and 96th streets during an afternoon in late July.

That is a lot, and theres probably 20 percent more thats on the market, in terms of space thats currently occupied and available for lease, said Greg Tannor, a retail specialist who left Cushman & Wakefield in April to join Lee & Associates as a principal.

Third Avenue between East 57th and 79th streets saw the biggest increase in its availability rate during the second quarter among the 11 retail corridors tracked by Cushman. The availability rate rose 7 percent year-over year to 16.6 percent, according to Cushmans most recent retail report.

And Madison Avenue between East 57th and 72nd streets saw the second-highest increase: a 5.3 percent jump to an availability rate of 23.5 percent, which is the third highest among the corridors the brokerage tracks.

The forces at play are different among Upper East Sides different retail corridors. Madison Avenue, for example, is one of the citys premiere luxury shopping strips with asking rents to prove it (an average of $1,431 per square foot).

Over on Third Avenue, asking rents average $283 per square foot, and experts in the area said the avenues shops are geared more toward chain apparel stores and national brands due to the kinds of large retail spaces that line the avenue. The struggles faced by national retailers, therefore, are having more of an impact on storefronts on Third Avenue than they would on a tony strip like Madison, brokers said.

Third [Avenue], I think, is the first market to really struggle with some of the difficulties were seeing with national soft goods retailers, Cushmans Steven Soutendijk said. Theyre the ones that are struggling in malls across the country.

In recent months, for example, stores went empty at 1030 Third Avenue when American Apparel closed up one of its last shops following a bankruptcy auction earlier this year. And Reebok left behind and empty storefront at 1132 Third Avenue after shutting down its FitHub location.

By comparison, Second Avenue is considered more neighborhood-focused, geared toward service retail like dry cleaners and restaurants located in smaller stores where top-line rents are more manageable.

Beyond the general woes facing retail, the avenue was long impacted by construction along the Second Avenue subway line, which finally opened earlier this year.

Certainly, now that the construction has completed, those vacancies should naturally have to fill in, Winick Realty Groups Kelly Gedinsky said. Theyre not obstructed by bridges over the sidewalk space anymore.

Lucas McGill contributed reporting

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The UES is facing a retail vacancy epidemic - The Real Deal Magazine

A rendering of River Place in downtown Wilmington. (Courtesy of the city of Wilmington)

In the revised agreement, the city of Wilmington and East West Partners, the Chapel Hill-based firm developing the project, are splitting an additional cost of $7.6 million, according to a release from the city.

The design for River Place was started two years ago. During this time, construction costs have escalated significantly. East West Partners has absorbed these costs and made creative adjustments in its plans, in both design solutions and construction methods, to partially accommodate these increased costs without sacrificing the quality of River Place," Roger Perry, owner of East West Partners, explained in an email. "In spite of these creative solutions, our final budget has, nonetheless, increased during this period by over $5M. It is perfectly understandable that the same has happened to the citys budget for the parking deck. This has been a very collaborative effort in creating a public-private partnership, and we are confident that as the city goes through this necessary process, it will see the value in making these budget adjustments so the project can proceed immediately."

Working with the general contractor Barnhill Construction on the project details, the city said revised cost estimates reflect construction price increases.

City spokeswoman Malissa Talbert attributed the cost increases to additional work on the site, finalizing design plans and an improving economy leading to higher costs since the price agreements were approved.

Cost of development was originally expected at about $75.6 million, but the new total in the development agreement that will be put to city council this month is around $83.2 million, according to numbers released by the development group.

Designs for the 13-story River Place project include condominiums, apartments, restaurants, a fitness studio, other commercial tenants and a new parking deck.

Officials had previously said construction of River Place was scheduled to be complete by mid-2019. The project appeared to experience delays after a ceremonial groundbreaking event in May.

The price adjustment is one of the next steps the city is taking in itspublic-private partnership with East West Partnerstoward the upcoming demolition of the old Water Street Deck and construction at the site, city officials said in the release.

Perry said Friday that another major factor in the cost is the price of labor, which has "increased significantly" since discussions about the project began.

As for the project timeline, Perry added, "These things are complicated and they take a long time, and I dont think its been slow; I think its been at a normal pace."

He said the first phases in the project are still expected to be ready late in the first quarter or early in the second quarter of 2019.

Almost 50 percent of the retail space has been leased out and 70 percent of the condominiums have been sold, Perry said Friday.

The market has been very receptive, Perry said. We are really excited about the building and weve enjoyed working with the city on the project. It's energizing and exciting because its such an incredible project.

The revised agreement will be up for a public hearing and approval by Wilmington City Council members at their Aug. 15 meeting. If the council approves the new agreement withthe added cost of construction, demolition could begin in October, Talbert said.

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City, Developer Expected To Pay More For River Place - Greater Wilmington Business Journal

WASHINGTON Close to 100 businesses in Wheaton that could be impacted by the ongoing construction of a new, 14-story Montgomery County office building and town plaza, may get compensated for interruption of their businesses.

The Montgomery County Council has created a Small Business Assistance Program to provide both technical and financial assistance to qualified downtown Wheaton, Maryland, businesses that can demonstrate financial impact to their businesses since construction began in June on the Wheaton Town Plaza project.

Construction is expected to last for three years.

Under the program, businesses could be eligible to receive up to $75,000 over the three year construction period for documented declines in their business directly attributable to the construction project.

The new, 308,000-square-foot Wheaton Town Plaza office building will be home to the Maryland-National Capital Park and Planning Commission, which is relocating from downtown Silver Spring.

It will also house several county departments and will have street level retail space.

Adjacent to the building will be a 20,000-square-foot entertainment plaza being built on the current site of the Mid-County Regional Services Center, which is moving into the new office building.

Big plans sometimes have growing pains, and to ease the pain of the existing small businesses that we want to be part of the revitalized Wheaton, we have created this innovative program, said County Executive Isiah Ike Leggett.

Before this project began, we promised these businesses that have been the fabric of Downtown Wheaton that we would provide help to them, and through this program, we are doing just that in a way rarely found in any development project in the nation.

Many of the businesses in the area are small, single-proprietor businesses with Latino ownership.

The program also includes nonfinancial assistance, including help with marketing and business planning that take into consideration the changes during construction.

The County said businesses can apply for assistance to the Countys Department of Finance, which is overseeing the program, starting Sept. 5 online.

The first of quarterly reimbursements could be made to businesses owners within weeks of applications, the County said.

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Businesses disrupted by Wheaton Town Plaza construction may be compensated - WTOP

Gardendale is preparing for a number of new developments in the city that could mean a major financial windfall for the city. The construction of a UAB medical facility and freestanding emergency room is expected to begin off Mt. Olive Road (near Buffalo Wild Wings) this Fall.

The City Council recently approved work to begin preparing the roadway for the entrances and exits needed to support the facility. City leaders are also optimistic that the medical facility will draw other businesses to the immediate area, where there will still be more than 13 acres available.

The UAB construction process had been delayed by red tape in getting all of the approvals needed at a state level to begin the construction, but earlier this year, a UAB representative reaffirmed the commitment to the project at a State of the City luncheon with the Greater Gardendale Chamber of Commerce.

The city also recently committed to an $11 million development deal with GBT Realty to develop the area between Odum Road and Interstate 65 into an upscale destination retail center consisting of not less than 125,000 square feet of gross leasable area, according to the legal notice.

The developer spoke at a May council meeting and said they anticipate the final project will create approximately 250 new jobs and generate approximately $30 million in revenue for the city. The property includes retail space and out parcels for restaurants or independent stores. No potential tenants were formally announced, but the developers said they were currently in talks with several potential tenants.

In addition, this year saw the opening of the long-awaited Shrimp Basket as well as the remodeling of the shopping center at the corner of Fieldstown Road and Odum Road, which now houses Aspen Dental and Pet Supermarket.

Business development hasnt been the only project for the city, as it also opened a renovated green space area adjacent to the Kenneth Clemons Athletic Complex on Fieldstown Road. The complex has long housed the citys soccer fields and Splash Pad, but now also boasts an 18-hole disc golf course, Magnolia Links, and an extensive walking trail. Work is also underway to complete a dog park and skate park at the facility.

During the last year, the city also finally got the Raymond G. Doss Playground of Miracles completed and opened. The park, which is outfitted with playground equipment for children with special needs, backs up to the citys existing baseball park for those children and adults who have special needs.

The city also finally got its day in court on the battle to create a Gardendale City School System by breaking away from the Jefferson County Board of Education. The week-long trial resulted in a ruling from the federal judge that caused the city and the plaintiffs in the case to appeal. The case currently rests with the 11th Circuit Court of Appeals in Atlanta. Although city officials were disappointed by the decision and the further delay, they have expressed their desire to continue forward on the path to forming a city school system.

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State of the City: Gardendale moves forward with two new developments - North Jefferson News

The citys Metropolitan Development Commission on Wednesday will consider whether to extend deadlines tied to a downtown apartment project so the developer can still qualify for a property tax abatement.

Louisville-based Investment Property Advisors LLC completed the first phase of the 9 on Canal Apartments in 2014. The development included 304 apartment units, 7,877 square feet of retail space and a 278-space parking garage.

In November 2015, the MDC granted a 10-year real property-tax abatement for a $37.2 million second phase that would add 219 apartments, more than 20,000 square feet of retail space and 188 underground parking spaces along downtowns Central Canal.

The developers agreement with the city required it to complete the six-story project by the end of 2017 and add 63 jobs at an average wage of $15 per hour by the end of 2018.

But, in May, a representative from Investment Property Advisors notified the Department of Metropolitan Development that it was not likely to complete its commitments by the deadlines, according to the resolution to extend the timeline.

The MDC will consider extending the deadline for completion to May 31, 2019, and the deadline for the creation of jobs to Dec. 31, 2020. Commissioners also want a construction schedule from the developer.

Work on the second phase should start by October, said Chase Sorrick, a co-owner of Investment Property Advisors, noting that the new construction schedule aligns better with the spring leasing season.

We wanted our building to open in the early springtime, and so we didnt want to put a lot of pressure on our construction schedule, he told IBJ.

9 on Canal is about 95 percent occupied, Sorrick said.

Apartments in the second phase will range in size from 650 square feet for a one-bedroom unit to 1,322 square feet for a three-bedroom unit.

Investment Property Advisors would build the second phase at 350 W. St. Clair St., immediately south of the existing development, and would save an estimated $2.4 million (or 40 percent) in property taxes on the project over the 10-year abatement period.

The company would still pay an estimated $3.5 million in property taxes on the development over that period and an estimated $634,400 annually on the improved property after the abatement period.

The 1.7-acre site, which is occupied by a warehouse, currently brings in less than $6,500 in annual property taxes.

The developer has acquired the property and would need to demolish the warehouse to make way for the apartments.

Also on Wednesday, the MDC is set to sign off on $7.2 million in developer-backed bonds to help finance the $41 million Ardmore development. The five-story mixed-use project by the base of Massachusetts Avenue is to be developed by Gershman Partners Inc. and Deylen Realty Inc. and owned by GP-Deylen LLC.

Plans for The Ardmore call for 126 apartments ranging from 553 square feet to 1,631 square feet; 20,000 square feet of retail; and 302 below-ground parking spaces. It is slated to be built on 2.8 acres at the southwest corner of North Delaware and East New York streets on property that is now used for surface parking.

Under traditional tax-increment financing deals, the city assumes the risk of a bond issue and must make up shortfalls if additional property tax revenue generated in a defined district falls short of debt payments. Under the developer-backed strategy, the developer is on the hook for shortfalls.

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Developer of $37M downtown apartment project seeks new construction schedule - Indianapolis Business Journal