Tishman Speyer Central To Long Island City’s Evolution

As The Wall Street Journal reported this week, more than 11,000 condominiums and rental apartments have been built in the Queen’s neighborhood during the past decade, fueling the need for more high-quality office and retail spaces to support the new residents.

Tishman Speyer is playing a major role in the continued development of the area, building three apartment towers in addition to the massive office and retail space in Long Island City.

Elizabeth Lusskin, president of the Long Island City Partnership, a local development organization, told the Journal: “The Tishman project is the cornerstone of this next phase of Long Island City in the sense that you are finally getting large scale new office creation for a market that is desperate for it.”

The 43,000-square-foot office and retail development consists of two 27-story office towers, a four-story retail building, numerous restaurants and a 1.5-acre park on the roof. Construction is set to begin in early 2017 and be completed in 2019.

For more information on Long Island City’s continued development and transformation, read the Wall Street Journal’s story: In Queens, Residential Development Is Fueling Commercial Demand.

Real Estate Board of New York’s 120th Annual Banquet

In January, Rob Speyer spoke at the Real Estate Board of New York’s 120th Annual Banquet, where discussion focused on the city’s need for new developments that will foster continued economic growth and job creation.

“A new study by New York City Economic Development Corporation found that we need more office space — a lot more,” Speyer stated. “We’ve asked leading public and private sector experts to give their views on the state of the commercial real estate market, and what NYC needs to do to maintain our edge as a 21st century global economy.”

From 1960-1975, there were 169 new buildings that lent 110 million square feet in office space in New York City; from 2000-2015, only 35 new office buildings were built.

 “As a city, and as an industry, we are making great strides in expanding our commercial districts and modernizing our office inventory, but more work needs to be done,” said Speyer. “Even as Hudson Yards and the new World Trade Center reshaping our skyline, we must push ahead with Midtown East rezoning, and we must continue to nurture emerging commercial markets.”

Watch the full REBNY video below:

Rob Speyer: Offices Of The Future Will “Look Like A Starbucks”

Speaking at the Global Alternative Investments Insights 2015 Conference, Rob Speyer discussed how recent changes in office environments are impacting real estate development.

“People want to work more closely together,” Speyer said. “They like to work in teams, they want to collaborate, they want to have the same kind of energy that we feel at this conference. They want to connect. Now, this is a powerful culture shift.”

Speyer discussed how the corner office is a dream of past generations of workers, not of the future. In 1990, an average worker occupied 300 square feet; today, that same worker occupies less than half of that.

“We are building a contemporary warehouse building in a major city in the U.S and an old line consulting firm is looking to rent the whole thing,” he said. “This would’ve been unthinkable five years ago. That company would have only considered a typical office building with a glass façade, but times are changing.”

Watch the clip in full below:

Rob Speyer talks the future of transportation in cities

In a speech at the Urban Land Institute’s 2016 Asia Pacific Summit in Shanghai, Rob Speyer discussed the important connection between transportation and real estate in cities across the world.

With an enormous number of people expected to move to cities in the future, mayors are in a unique position to craft smart, sustainable transportation policies – and Speyer noted that connectivity is key.

“Inspired by China’s high-speed rail, L.A. Mayor Eric Garcetti came right here, to Shanghai, to learn how to move more people, in less time, with fewer cars,” said Speyer. “Shanghai is where Garcetti learned how to cut congestion and the air pollution that’s been suffocating L.A. for decades. The reason why the mayor has created a plan to build thirty-two miles of subways in L.A.—get the locals out of their cars and into city trains.”

“In just two decades, L.A. hopes to cut the use of private cars by 1.7 million miles each day. That’s the equivalent of six daily trips to the moon and back. It’s a winning formula. Fewer cars, less exhaust, faster trips, and it will mean a boost in real estate values.”

Speyer explained how real estate and transportation are becoming more connected every day and commended the mayors of Shanghai, Los Angeles and Rio de Janeiro for their foresight on these issues.

“So where does this lead us? If the 20th century was about driving more cars, the 21st century will be about getting those cars off the road,” said Speyer. “Where cars once helped cities to thrive and to grow, too many cars are threatening to choke that growth. That’s why in cities like Shanghai, Shenzhen, L.A., and Rio, the car of the future has become the train.”

“Transportation has always been a big part of real estate. But as more and more people jam themselves into fewer and fewer cities, transportation will become inseparable from real estate. That means get ready for more deals like the one between Vanke and Shenzhen Metro. And it also means, that what was once viewed as a perk —safe, reliable access to transportation— is becoming a requirement.”

Watch Rob Speyer’s whole speech, which can be viewed below:




Rob Speyer Discusses The Importance Of Global Collaboration Among Mayors


Rob Speyer recently discussed the significance of worldwide collaboration among mayors around the globe at the Urban Land Institute’s recent 2016 Asia Pacific Summit, which took place in Shanghai, China.

“From Shenzhen to Rio, from Los Angeles to Shanghai, these smart mayors can drive big change, because mayors are often in a better position than even national leaders to help each other get things done,” said Speyer. “We’ve all seen it. When a head of state wants to work with another head of state, it can take a long time. On the other hand, when a mayor wants to work directly with another mayor, they can get things done quickly. They can cut through the bureaucracy, the protocol, even the geopolitics.”

Speyer highlighted the importance of mayors to actively engage colleagues from throughout the world to improve their respective cities, noting the connections made between the mayors of Los Angeles, Rio de Janeiro and Shanghai when talking about developing cities of the future.

“Mayor Garcetti is tackling the age-old L.A. problem of traffic — with Shanghai ideas,” he said. “They invested heavily in building public transit, encouraging people to leave their cars and take buses and subways, easing the gridlock. In recent decades, Shanghai has built public transportation to replace private cars, and they’ve invested heavily in development around transit hubs, making a more livable city.”

Speyer called on city mayors to start addressing their excessive traffic and pollution issues before it’s too late.

“We need mayors with energy, confidence, a sense of destiny — mayors who can help all of us see around those corners,” said Speyer. “Because in our increasingly smart world, filled with smartphones and smart cars, a smart city needs a smart mayor.”

Rob Speyer’s whole speech can be viewed below:




Rob Speyer Announces Tishman Speyer Moving Ahead With Major Long Island City Project

Rob Speyer announced today that Tishman Speyer is moving ahead with construction of its 1.1 million square foot office and retail project in Long Island City. Construction of the new project, which includes two 27-story towers designed by Raul De Armas of MdeAS Architects, will begin in early 2017 with completion anticipated in 2019.

The towers will be connected by a four-story podium and will include a mix of retail, complemented by a food hall, restaurant and parking garage — providing numerous amenities to local workers and residents in the vibrant mixed-use neighborhood.

“Thanks to the City of New York’s investment in the area’s infrastructure, enlightened policy decisions and the active support of the New York City Economic Development Corporation, the local community and its elected officials, Long Island City has become a model for 21st Century urban development,” Speyer said.

“Tishman Speyer is proud to continue our role in unlocking the area’s full potential as one of the most dynamic, live-work-play neighborhoods, not just in Queens but in all of New York City.”

Tishman Speyer is now the largest developer of both commercial and residential space in Long Island City, being responsible for 3.5 million square feet of development in Long Island City since 2003.

More information: Tishman Speyer Moving Ahead With Construction Of 1.1 Million Square Foot Office And Retail Project In Long Island City

Rob Speyer Speaks at the ULI 2016 Asia Pacific Summit

Rob Speyer recently discussed the importance of interconnectivity between real estate and transportation at the Urban Land Institute’s 2016 Asia Pacific Summit, which took place on June 15-17 in Shanghai. An estimated 2.5 billion people are expected to move to cities by 2050, posing a challenge for city mayors looking to combat excessive traffic issues and pollution.

“In the past, sometimes we built transportation after real estate, and sometimes we built it before real estate,” Speyer said. “But now, finally, we are building transportation and real estate at the same time.”

Speyer cited Shanghai as an example of a city that currently uses public transit efficiently to benefit real estate development.

“Shanghai isn’t just building; it’s building with a plan for decades ahead,” he said. “It is a city with energy, with confidence, with a sense of destiny—but more so a city with leadership.”

Speyer commended Shanghai Mayor Yang Xiong and his predecessor, Han Zheng, for their efforts in overseeing the expansion of Shanghai’s subway network. Similar to Tishman Speyer’s development approach, Shanghai is locating major real estate developments on transit nodes to provide easy access to its tenants and workers.

“If you own an apartment or office building far from public transit, how can you compete with an apartment block of buildings two blocks from the subway?” Speyer asked.

Speyer called on more city leaders around the glove to drive public transit initiatives that support smart real estate development. “Property and transportation will increasingly become a single deal,” Speyer said. “We have 2.5 billion people moving to cities, and as much as they need somewhere to go, they also need some way to get there.”

Rob Speyer on the Future of Cities can be viewed below:

ULI Asia Pacific Summit

Over 500 professionals from all sectors of the real estate industry will come together on June 15-17 at the Urban Land Institute Asia Pacific Summit. The Summit invites developers, investors, advisors, planners, architects, and city leaders from around the world to come together to exchange ideas.

 Rob Speyer, CEO of Tishman Speyer, is a key speaker at this year’s Summit. His speech, The Future of Cities, will highlight the resurgence in global cities, and the driving cause behind this growth. The mission of ULI is to provide education in the responsible use of land and in sustaining and creating cities and communities worldwide.

Read more on this conference here.

The Spiral

In February, Tishman Speyer announced plans for a 65-story building in the heart of Manhattan’s West Side. Bjarke Ingles, designer of The Spiral, provides an in-depth look at the building that sits a block away from the north end of Manhattan’s High Line Park.

Additional  information can be found here.

Tishman Speyer Releases Global Sustainability Report

Earlier this month, Tishman Speyer released its third Global Sustainability report.

Tishman Speyer was awarded a 2015 ENERGY STAR partner of the year award, which honors companies that demonstrate the best energy saving practices across the industry. In addition, Tishman Speyer hit a number of company landmarks in 2015, including: First LEED Gold for Existing Building in NY (357 Hudson St.), first building to achieve LEED Gold in South America (Rochavera Corporate Towers, Brazil), and first tower to achieve LEED Platinum in Frankfurt (Taunusturm, Germany).

“At Tishman Speyer, we believe that sustainability in the built environment is increasingly critical to our future,” said CEO Rob Speyer in the report. “The result of this belief has been our commitment to delivering beautiful, healthy and efficient buildings since our inception.” Numerous Tishman Speyer buildings have made a positive impact on the environment, improving efficiency and meeting the unique challenges of the urban landscape.

“Whether constructing new buildings or redeveloping existing ones, we strive to do so in a way that minimizes impact on the environment at every stage of the building life cycle, while maximizing sustainable value,” said Speyer.

Tishman Speyer Impact:

  • 52 million square feet certified portfolio under LEED, BREEAM, or HQE
  • Energy consumption between 2012 and 2013 was reduced by an average of 2.5%
  • All seven eligible funds received a green start under GRESB in 2014

Read more at: TishmanSpeyer.com