The Shard of Glass - Renzo Piano's London Bridge Tower

[JMGarcia]

"The Shard of Glass"
Renzo Piano's London Bridge Tower

by Kriss Pettersen

"Architects have to dream, we have to search for our Atlantises, to be explorers, adventurers, and yet to build responsibly and well."

Renzo Piano's words speak to the difficulties architects face when designing a groundbreaking project such as the proposed London Bridge Tower, a 1,016 foot tall mixed use development in the central London borough of Southward, by the river Thames. The architect must conceptualize the idea, make it practical to build, then communicate it to the public - all just to have a chance at seeing the dream become a reality.

"We need to make a building that doesn't shut people out, one that responds to local as well as city-wide needs. A building of this scale, this ambition, cannot be just for private gain: it becomes a public project privately financed."

Just as Daniel Libeskind is politicing in New York to keep his World Trade Center design intact, Piano also faces immense political pressure in London, pressure that he sees can only be solved by showing the people of London how his design will respond to their concerns. Those against the project defend the English Heritage, claiming the building would interfere with legally protected views of St. Paul's Cathedral and "open the floodgates to high-rise development in the city's historic core." Those for the project belive it would identify London as a 21st-Century capital while filling a growing need for desirable office space in the city. Of course, there are always financial concerns outside the architect's control. The project, developed by Irvine Sellar, is estimated to cost close to £500m and as with most large-scale developments, will hinge on financing. But the more that Piano can show how beneficial the design will be for the city of London, a political blessing will go a long way to raising the necessary funds for its construction.

"Of course, I understand the suspicions of Londoners who have seen so many cynical and ugly commercial towers - hermetic buildings cut off from public life and dead at night - dominate the city over the past 40 years. How can we show this is very different? How can I say to people there, 'Trust me?'"

Piano himself refers to his design as a "Shard of Glass", describing the tower's design as a sharp and light presence in the London skyline, its shape generous at the bottom and narrow at the top, disappearing into the air like the mast of a tall ship. The tower is planned to be sheathed in glass, using a ventilated double-skin facade to reduce heat gain. The building's shape also lends itself to a pragmatic structural approach, and Piano has aligned himself with Ove Arup and Partners for both structural and sustainable design. Targeting a 30% reduction in energy compared to a conventional tall building, Arup's contributions will only help Piano realize his desire for human, technological, energetic and economic sustainability.

"We want the tower to be a vertical city of eight or nine thousand people, with mixed uses - shops, entertainment, flats, offices, observation galleries, and even a small church, or chapel of peace, 260m in the air. We want it to be a democratic project. We will only do it if we can achieve the right quality of design and construction."

In a dense city such as London, a mixed-use skyscraper project makes sense. Its location has excellent public transport connections as London Bridge station connects mainline and Tube trains and has a large bus depot. However, for such a building to become reality, concessions must certainly need to be made - concessions that Renzo Piano may not be willing to make. The longer the project takes to get started, the more it will cost. The developer has promised to honor a legal agreement he signed with the architect binding him to follow through on the quality that Piano demands. But if the building is still under construction in 2009, it might be hard to stay the course on quality with escalating construction costs and the pressure to complete the project.

"It is that search for Atlantis, for something special. We have to have the confidence to believe that we can create a tower that Londoners will come to respect as they respect St Paul's. The power of Mammon created a beautiful city like Siena; this power can be put to good civic use, not just to make developers rich. Well, there will be many more talks, I'm sure. This is not the sort of building you can put up overnight. Like a violin, it will need careful tuning."

As one of the masters of modern architecture, Renzo Piano knows that the approval process for a project such as the London Bridge Tower is a long one, and that he must do his role as the architect to represent the design without sounding too high and mighty. Including the city officials as part of the team and listening to their concerns is very important, as well as giving the people of London the sense of the building's importance for the future of the city. And even if the project is granted approval to proceed, there will still be many meetings with building officials where Piano will need to continue to push design excellence to keep the tower's design intact, even while making the inevitable necessary concessions. It will be this ability that will ultimately prove the success of the project.

Renzo Piano quotes from interview with UK Guardian Unlimited


http://www.entablature.com/feature/piano/piano1.jpg

[Jasonik]

Stunning; such a lucid expression of hierarchy deserves a place in London's core. *Piano is brilliant.

[TLOZ Link5]

I have a feeling that this might not be so recent an article. *The rendering posted at the end is of the preliminary design for the tower, which in more recent renderings looks a lot more shard-of-glassy and transparent. *The redesign may well have been a result of a public inquiry following the building's initial approval.

[Kris]

http://www.skyscrapernews.com/lbt6a.jpg
http://www.skyscrapernews.com/lbt4a.jpg
http://www.skyscrapernews.com

[Kris]

http://www.londonbridgetower.com

There's a nice rendering from street level (not the one on the site) I can't find anymore.

[Fabb]

The transparent structure at the top makes me think of an uncompleted construction, which is a brilliant way of eluding the typical flat roof/spire alternative.

I also think of Nouvel's Tour Sans Fins (again...)

http://perso.wanadoo.fr/cyril.poisson/tsf.jpg

The above rendering doesn't show clearly the similarity of the tops, but there's one.

[Kris]

They disintegrate. Also Childs's original idea for ground zero.

[JMGarcia]

Quote: from Christian Wieland on 12:36 pm on Aug. 1, 2003
They disintegrate. Also Childs's original idea for ground zero.

I neve thought I'd see the words "original idea" and "Childs" in the same sentence. ;)

[Kris]

Okay, initial idea.

[TLOZ Link5]

List of prospective, u/c, and completed London skyscrapers over 400 feet, as listed by ss.com:

London Bridge Tower, Southwark (approved)
1017 feet, 66 stories

Columbus Tower, Tower Hamlets (proposed)
778 feet, 61 stories

One Canada Square, Canary Wharf (current tallest)
771 feet, 50 stories

122 Leadenhall Street, City of London (proposed)
758 feet, 48 stories

The Minerva Building, City of London (proposed)
712 feet, 53 stories

One North Quay, Canary Wharf (proposed)
708 feet, 44 stories

One Riverside South, Canary Wharf (proposed)
702 feet, 44 stories

Three North Quay, Canary Wharf (proposed)
667 feet, 38 stories

8 Canada Square, Canary Wharf
655 feet, 45 stories

25 Canada Square, Canary Wharf
655 feet, 45 stories

British Telecom Tower, Bloomsbury-Fitzrovia
625 feet

Two Riverside South, Canary Wharf (proposed)
619 feet, 38 stories

Tower 42/NatWest Building, City of London
600 feet, 43 stories

Heron Tower, City of London (approved)
600 feet, 42 stories

Vauxhall Tower, St. George's Wharf, Lambeth (proposed)
593 feet, 49 stories

30 St Mary Axe, City of London (under construction)
590 feet, 41 stories

Crossharbour Tower, Greenwich (proposed)
532 feet, 53 stories

One Churchill Place, Canary Wharf (under construction)
513 feet, 32 stories

25 Bank Street, Heron Quays, Canary Wharf (under construction)
502 feet, 33 stories

40 Bank Street, Heron Quays, Canary Wharf (under construction)
502 feet, 33 stories

10 Upper Bank Street, Heron Quays, Canary Wharf (under construction)
495 feet, 32 stories

Guy's Hospital Tower, Southwark
469 feet, *34 stories

70 Marsh Wall, Tower Hamlets (proposed)
457 feet, 46 stories

One Croydon Gateway, Tower Hamlets (approved, same site as 70 Marsh Wall)
443 feet, 30 stories

British Airways London Eye, Lambeth
443 feet

West End Green, City of Westminster (proposed)
436 feet, 28 stories

New Wembley Stadium, Brent (under construction)
436 feet

Grand Union Building, Paddington (approved)
433 feet, 29 stories

City Point, City of London
417 feet, 36 stories

Millennium Hotel, Millennium Dome site, Greenwich (proposed)
417 feet, floor count remains to be determined

Euston Tower, Camden
408 feet, 36 stories

Shakespeare Flats, Barbican Centre, City of London
404 feet, 43 stories

Lauderdale Flats, Barbican Centre, City of London
404 feet, 43 stories

Cromwell Flats, Barbican Centre, City of London
404 feet, 42 stories

(Edited by TLOZ Link5 at 6:00 pm on Aug. 1, 2003)

[Chicagoan]

Quote: from Fabb on 10:16 am on Aug. 1, 2003
The transparent structure at the top makes me think of an uncompleted construction, which is a brilliant way of eluding the typical flat roof/spire alternative.

I also think of Nouvel's Tour Sans Fins (again...)

Ihave been following LBT for about a year now and it would be a shame of Heritage does not approve the tower. I am proud to have signed the petition sent to the Prime Minister supporting this project.

I also think of TSF when I think of LBT. They also are similar in how they are vertically organized. Both towers use areas along their heights to collect light and bring it into the tower's mass. There is still a chance that TSF might get built... so says Nouvel as late as 2001. He and Piano are among the greatest. Zumthor too, but he has yet to do a tall building.

[TLOZ Link5]

Isn't the building outside of the so-called "lines of sight?" *I mean, Guy's Tower is only a few blocks away from it; not to mention that most of the tall buildings proposed for The City have not been opposed by EH either. *They derided the original design as "a spike through the heart of London," but Piano, as mentioned before, revised--even improved--his design to compromise with them. *I think LBT has an incredibly good chance of being built.

[Fabb]

Hopefully, you're right.
The first version was in the form of a 390-m shard of glass.

[NyC MaNiAc]

I'd be happy if they plopped this in Downtown Manhattan.

[DominicanoNYC]

I'd be happy if they plopped this in Downtown Manhattan.
It would be a great addition to the skyline. :)

[TLOZ Link5]

It would be a great addition to any skyline. London deserves this masterpiece.

[Kris]

Tailored to itself and no other city.

[Fabb]

Unfortunately, vacancy rates are up in London. And rents are down.

[Kris]

I got mail...


From: mail@sellarproperty.com
Subject: LONDON BRIDGE TOWER GETS PLANNING GO-AHEAD
Date: Wed, 19 Nov 2003 12:55:17 +0000

London Bridge Tower, the capital's only truly mixed-use building with total public access, has today been granted planning permission by the Office of the Deputy Prime Minister following last summer's rigorous and comprehensive Public Inquiry. Designed by one of the world's leading architects, Renzo Piano, LBT will be constructed on the site of an existing 1970's office building adjacent to London Bridge Station. On completion it will provide a mix of shopping, offices, hotel, leisure, residential and a variety of public spaces including viewing galleries.

Once completed it will be London's only truly mixed use development, comprising shops, offices, hotel, residential, viewing galleries and other leisure activities, fully accessible to the public.

Renzo Piano's masterpiece reflects the collaboration between Southwark, the GLA and all other parties who helped in achieving this successful outcome, all of whom will feel a genuine sense of pride and achievement when London Bridge Tower has been completed.

London Bridge Tower will be a landmark building recognised the world over and will symbolise the international importance of London. It will be a significant tourist and leisure attraction in its own right, enabling millions to see London from an entirely new vantage point.

Irvine Sellar, Chief Executive of Sellar Property Group, which is leading the development states: "We are delighted by the decision as it provides a once in a lifetime opportunity to create what will become one of the world's most beautiful buildings. This positive decision is wonderful news, not only for our partners and our team but also for the residents of Southwark, London and the U.K. as a whole. We aim to commence construction in 2005 with completion in 2009."

Renzo Piano states:
"I am grateful for having being challenged for 3 years to do better and I am even more pleased today that we have been rewarded with the approval to go ahead. Now our real work will begin!"

Visit the Web site at www.londonbridgetower.com

[ZippyTheChimp]

A pleasant surprise.

London vacation 2009. :D

[NYatKNIGHT]

Exactly. Good for London, that building is gorgeous.

[larven]

It certainly is good for London and any British skyscraper fan worth his salt is over the moon about this news. Not only do we get our first 1000 footer and Europe's tallest building but just look at it...the buildings a modern masterpiece!

LBT has been approved after yet another long and tedious Planning Inquiry (PI), the first one being 110 Bishopsgate which like LBT was eventually approved. These key decisions should really bolster confidence in building tall and open the floodgates in terms of high rise development in London. It will also weaken the arguments of the anti-skyscraper lobby who seemingly oppose any high rise proposal and are responsible for these buildings being called into a PI in the first place.

[ZippyTheChimp]

Is Planning Inquiry similar to our Environmental Impact Statement (EIS)? That's usually the last big hurdle for projects here.

[TLOZ Link5]

I believe that it is. Got this E-mail from their site:

London Bridge Tower, the capital's only truly mixed-use building with total public access, has today been granted planning permission by the Office of the Deputy Prime Minister following last summer's rigorous and comprehensive Public Inquiry. Designed by one of the world's leading architects, Renzo Piano, LBT will be constructed on the site of an existing 1970's office building adjacent to London Bridge Station. On completion it will provide a mix of shopping, offices, hotel, leisure, residential and a variety of public spaces including viewing galleries.

Once completed it will be London's only truly mixed use development, comprising shops, offices, hotel, residential, viewing galleries and other leisure activities, fully accessible to the public.

Renzo Piano's masterpiece reflects the collaboration between Southwark, the GLA and all other parties who helped in achieving this successful outcome, all of whom will feel a genuine sense of pride and achievement when London Bridge Tower has been completed.

London Bridge Tower will be a landmark building recognised the world over and will symbolise the international importance of London. It will be a significant tourist and leisure attraction in its own right, enabling millions to see London from an entirely new vantage point.

Irvine Sellar, Chief Executive of Sellar Property Group, which is leading the development states: "We are delighted by the decision as it provides a once in a lifetime opportunity to create what will become one of the world's most beautiful buildings. This positive decision is wonderful news, not only for our partners and our team but also for the residents of Southwark, London and the U.K. as a whole. We aim to commence construction in 2005 with completion in 2009."

Renzo Piano states:
"I am grateful for having being challenged for 3 years to do better and I am even more pleased today that we have been rewarded with the approval to go ahead. Now our real work will begin!"

Visit the Web site at www.londonbridgetower.com

Hooray for London, indeed.

[emmeka]

If the mid-rise piazza is like this:

http://www.londonbridgetower.com/images/building/gallery.jpg


Then what will the one at the top be like?

If you look through the glass you can see tower 42 (nat west tower) which has 43 floors, this building is going to be f***ing massive!!!

[Kris]

Shard's little sister wins planning permission (http://www.london-se1.co.uk/news/view/2103)

[ablarc]

Fat.

[czsz]

The current tower there isn't that bad. Certainly a bit more svelte.

[newcastle kid]

The Shard is very close to getting a large pre-let, which will secure it's construction. If the pre-let is finalised and confirmed, then the building currently on site should begin demolition in a few months.

[MidtownGuy]

Spectacular news for London! I love this design.

[nick-taylor]

This picture was taken in around the 80's by the looks of it, yet uou can see in this picture the exact site of where the tower will go....its where the brown/silver tower currently is.

The tower will also hang over the modern through platforms to the right, while the historical (world's oldest train terminus) London Bridge Station is modernised to ensure more efficient flow around the adapted environs. The large tower to the left is the Guy's Hospital tower: tallest hospital in the world, while Canary Wharf would be around 3miles behind us and the City of London just over the river to the right.




http://img146.imageshack.us/img146/6596/67569686d32d84d0dao3mx.jpg

[ablarc]

Spectacular news for London! I love this design.
It's even better than Transamerica, and look how much Transamerica does for San Francisco. If not for Bank of America's gloomy hulk, Transamerica would dominate the skyline. The Shard will do that for London, and it will make a nice counterpoint for St. Paul's: a kind of deconstructed Trylon and Perisphere.

[dragonslayer]

It looks like construction is about to start (i work at Guys hospital next door) - in the last couple of weeks they've put up boards around the current building on the site saying development is about to begin. I like the look of the building, its on the opposite side of the river from the tower of London, the old and the new, it would make a nice contrast.

[ryeler]

Not sure if people knew this but the hotel inside will be a Living Shangra-La hotel. Saw an ad in a Montreal newspaper this morning.

[Zephyr]

Early this morning I had a chat with friends via telephone about their trip over to London, and in the midst of that conversation they belatedly informed me that oh, by the way, St. Thomas Street is closed, and that Southwark Tower is under active demolition. That of course floored me immediately, because that means the first hurdle is being removed for that long awaited start of construction of Piano's LBT.

They say that the red crane of demolition is visible from quite a distance away. Since it took so long to get from approval status to this point, you can only have a sigh of relief, but demolition will be slow by American standards. Then the excavation will get a more boisterous reception and we will know that "the Shard" will be well on its way.

[Meerkat]

Early this morning I had a chat with friends via telephone about their trip over to London, and in the midst of that conversation they belatedly informed me that oh, by the way, St. Thomas Street is closed, and that Southwark Tower is under active demolition. That of course floored me immediately, because that means the first hurdle is being removed for that long awaited start of construction of Piano's LBT.

They say that the red crane of demolition is visible from quite a distance away. Since it took so long to get from approval status to this point, you can only have a sigh of relief, but demolition will be slow by American standards. Then the excavation will get a more boisterous reception and we will know that "the Shard" will be well on its way.

I've not seen the red crane, but i noticed the other day on my way to work that there was a large drilling machine (not sure what they are called) on St.Thomas street so i assume preparation for the demolition has started. St.Thomas street has since re-opened. Certainly something is going on there, but i'm not sure demolition has started just yet. Demolition has started on several other sites including the Heron tower site , the leadenhall building and a couple of others, but as you say, work over here is slow so it will be some time before these new towers start to take shape.

[Zephyr]

I have searched the internet and found the following two items:

__________________________________________________
London Demolition Derby
Published on 2007-08-13

The City of London is seeing a totally unprecedented flurry of activity surrounding the crop of existing sixties towers it has. ...

Outside the City core there is perhaps most awaited demolition as scaffolding has started to crawl up Southwark Towers, rapidly being vacated by occupier PWC, to allow it to also be demolished and London Bridge Tower to be built in its place. ...

http://www.skyscrapernews.org/news.php?ref=1063
__________________________________________________

Next -

At the Skyscrapercity website they have a discussion about the demolition beginning on the 19th and there are a few photos made by forumers over there - including the red crane:

http://i35.photobucket.com/albums/d155/GazKinz/SUC50301.jpg

The start of the demolition discussion is on this page:
http://www.skyscrapercity.com/showthread.php?t=407549&page=73

__________________________________________________

[Meerkat]

I have searched the internet and found the following two items:

__________________________________________________
London Demolition Derby
Published on 2007-08-13

The City of London is seeing a totally unprecedented flurry of activity surrounding the crop of existing sixties towers it has. ...

Outside the City core there is perhaps most awaited demolition as scaffolding has started to crawl up Southwark Towers, rapidly being vacated by occupier PWC, to allow it to also be demolished and London Bridge Tower to be built in its place. ...

http://www.skyscrapernews.org/news.php?ref=1063
__________________________________________________

Next -

At the Skyscrapercity website they have a discussion about the demolition beginning on the 19th and there are a few photos made by forumers over there - including the red crane:

http://i35.photobucket.com/albums/d155/GazKinz/SUC50301.jpg

The start of the demolition discussion is on this page:
http://www.skyscrapercity.com/showthread.php?t=407549&page=73


__________________________________________________


Sorry Zephyr, you're quite right, the red crane is there - i had a look on my way into work this evening - its round the side where i couldn't see it before.

[Zephyr]

(Appreciate your response Meerkat.)

Please keep an eye out for us will you? You'll probably see or hear something that we may not be able to find on an internet search. I happen to think this project is one of the most interesting in Europe, and the world for that matter. I wish I were there, viewing it firsthand.

[newcastle kid]

The Shard has been struck by a delay (http://http://business.timesonline.co.uk/tol/business/industry_sectors/construction_and_property/article2332482.ece) of at least 1 year.

It's a total travesty. I'm beginning to doubt this will happen. Everyone, give a big hand to Mr. Simon bloody Halabi for possibly ruining this project.

[Zephyr]

The Shard has been struck by a delay (http://http://business.timesonline.co.uk/tol/business/industry_sectors/construction_and_property/article2332482.ece) of at least 1 year.

It's a total travesty. I'm beginning to doubt this will happen. Everyone, give a big hand to Mr. Simon bloody Halabi for possibly ruining this project.

Having trouble with that link ...

[Zephyr]

I guess you are correct newcastle kid.

I am getting the word now from several sources. This is truly devastating. :mad:

[newcastle kid]

That particular article seems to have disappeared. Hopefully Halabi will either sort himself out, or Sellar and CLS can buy his stake. I just hope this will go ahead, it will be one of the greatest skyscrapers in Europe upon completion.

[Meerkat]

(Appreciate your response Meerkat.)

Please keep an eye out for us will you? You'll probably see or hear something that we may not be able to find on an internet search. I happen to think this project is one of the most interesting in Europe, and the world for that matter. I wish I were there, viewing it firsthand.

Yes i'll keep you informed. I pass the site nearly every day, so as soon as anything new happens i'll let you know.

I'll be very surprised if this project is cancelled, especially considering demolition is about to commence on the current building, and part of the Shard has already been pre-let. There are always delays and set backs on any new project (just look at crossrail), so i wouldn't be too concerned about the latest set back. I had a look at the official site and there is no mention of a delay. Probably just the English press getting hold of a rumour and blowing it out of all proportion (as usual). There seems to be a lot of discussion on other skyscraper forums, and people convinced that it is going to be cancelled, but i'm optimistic. There are placcards positioned around the London bridge area saying 'redevelopment has begun', so it would seem a total waste of time and money for it all to fall through at this late stage.

[ablarc]

From The Times
August 27, 2007

Delay for UK’s tallest tower as backers struggle for funding

By James Rossiter

The timetable for completing the Shard of Glass, intended to be Britain’s tallest building, has been put back by at least a year to 2012 as its backers struggle to secure finance.

The owners of the New London Bridge House project, a 1,016ft skyscraper, had aimed to secure about £350 million this summer to fund construction, but City concern about the financial credibility of Simon Halabi, the one-third owner, had made it hard to gain finance, sources said, as had a souring debt market.

Mr Halabi is thought to be sitting on a £150 million loss after buying the Esporta fitness chain this year for £470 million, only for Société Générale, his main bank lender for the purchase, to put the holding company into administration this month.

A source close to the Shard project said: “There is the problem of Halabi. Esporta is not helping the financing. The reality is people are asking: ‘Has he got the money?’ But this is a more fundable deal than most. Orginally it was planned for 2010. It may take a couple of years longer. If there is finance in the autumn and it goes up by 2011 it can be completed in 2012. The earliest is 2012. No one anticipated the time over planning inquiries and Mr Halabi.”

The Shard project is owned by the Halabi Family Trust, CLS, a property company, and Sellar Property Group.

[nick-taylor]

^^ This article was actually proven false by the developer, the tower is still going ahead as the current 100m tower on the site is being demolished as we speak.

[Eugenius]

Did the developer issue a statement disproving the article, or is that conclusion simply a result of the demolition continuing? I would think that the funds required for the demolition are fairly minor compared to what would be required for full blown construction.

[newcastle kid]

A statement was realeased from the developers within 24 hours of the story being distributed.

It has now been claimed though that they will likely require another tennant before December to secure funding, or this will be shelved. With Mr Hallabi still on board, securing funding and a tenant will be even more difficult.

Keep you fingers crossed people. We're gonna need it.

[Meerkat]

A statement was realeased from the developers within 24 hours of the story being distributed.

It has now been claimed though that they will likely require another tennant before December to secure funding, or this will be shelved. With Mr Hallabi still on board, securing funding and a tenant will be even more difficult.

Keep you fingers crossed people. We're gonna need it.

As i was passing this building on my way to work last week (i'm on holiday this week and haven't been near), there were a number of lorries being filled with office desks - the building is in the process of being evacuated. That and the red crane next door suggests that demolition will go ahead as planned in the very near future. I remain optimistic that all is well.

[newcastle kid]

Ooh, you guys are a bit behind at the mo.

The Shard is now 'on ice', as it were. The events of the last few days have been a roller coaster.

First, we had the article posted above, which was disputed by the developers. Then the talk got worse. It was said that if the project isn't funded by December, it isn't going to start construction at all. The stories, saying it is in trouble, have persisted. Then, we got news that Transport For London, The Shard's primary tennant, is drawing up contingency plans, and looking at other developments, 'just in case'. We continuosly heard that the developers were in 'advanced talks' for funding, but they were not getting much further, due mostly to Mr. Halabi, who is seriously putting off investors.

Yesterday, we recieved great news: Halabi has been approached by a middle eastern investor with 'very deep pockets' who wishes to buy his stake. The banks who are behind the project gave him 10 days to sell up. The mayor, Ken Livingstone, has come out re-iterating his support of The Shard, and saying TfL will still be moving in. Today, the new middle eastern investor hoping to buy Mr. Halabi's share: The Qatari government. Very deep pockets indeed lol. It has also been confirmed that Credit Suisse has been in talks to provide debt to the consortium, but 'wants to see the outcome of Mr Halabi's stake resolved'. So, if he does sell, it looks like The Shard will have it's funding. Candy & Candy (who recently developed the most expensive apartments in the world down in London) are tipped as the providers of the luxury flats, of which there will be atleast 14.

It's in Halabi's hands now. If he sells, this can go ahead. If he doesn't, he will continue to put people off investing. We should know by the end of next week wether this will be built or not.

Wether The Shard is taken 'off ice' lol and resumes demolition will be decided soon.

It's like a bloody soap opera lol.

[ablarc]

^ Cliffhanger.

Why does this kind of thing happen to the nicest buildings?

In New York, it's the one by Calatrava and Sciame. Plus Atlantic Yards seems to be barely limping along.

And in Boston, it's Columbus Center, a really fine project that would heal a deep wound in the urban fabric.

All stalled or sputtering.

[newcastle kid]

^ Cliffhanger.

Why does this kind of thing happen to the nicest buildings?


Yep, exactly. This will be the pride and joy of modern London. Atleast now it looks like it has a good chance of going ahead, asked me this past Sunday what it's chances were and I would have said slim.

Well, it looks like Halabi will be selling up. If he doesn't, to put it in the words of Gothicform from SSC, "he's f@cked". His empire is apparently in a right state, he needs the money.

Unless he plans on delaying The Shard just to be petty. Wouldn't put it past him to be honest... If he does, I will hunt him down and give him a serious smacking. And I'm only 17! Imagine what the older guys who have been following this for years will do lol...

[Meerkat]

From skyscrapernews.com;

http://www.skyscrapernews.com/news.php?ref=1110


Qataris Eye Up Shard Development Partnership

The swirling tale of high finance that has cast its shadow over London Bridge Tower could soon be resolved.

Thanks to the current troubles on the financial markets, financial institutions have become much more wary about loaning money presenting Teighmore, the consortium behind the Shard with a dilemma of what to do. Whilst they have enough money to demolish the current building on the site, they don't have the cash to actually build the Shard.

At the heart of their problems is one of the partners, the Halabi Family Trust which has racked up huge losses on recent investments whilst at the same time arguing with the other two partners, Sellar Properties and CLS over the management fees they should be paid by the consortium.

The breakdown in relationships combined with the financial problems that the Halabi Family Trust is now experiencing has seen financing on the scheme dry up as confidence of the debt markets falls despite the negotiations having got to an advanced stage with Credit Suisse before being overtaken by events.

It seems now that the Halabis will be moved to one side with their share bought out and a new partner brought in who the markets trust better and can provide some development capital meaning that although the project is economical and fundable one third of the triumvirate of developers failed to pass the standards the markets look for.

The Halabis are stuck between a rock and a hard place with the banks having given them only ten days to sell their stake in the Shard before they move in like circling vultures leaving the Halabis with little choice but to do what the banks have requested or stare into a financial abyss.

Stepping into the breach is the Qatar Investment Authority who are supported by the other two partners. It is a vehicle run by the Qatari government that works as a venture capital fund investing money in companies around the world it believes can provide a good return.

They weren't alone in expressing interest in the scheme, the American financial institution Pramerica had also expressed an interest but were outbid by their Arab rivals.

In another move, Candy and Candy are set to sign up to deal with the residential aspects of the development that will see them add their touch of luxury to the apartments. Candy and Candy have already teamed up with Qatar in the past with their under construction 1 Knightsbridge that had an apartment sold for a record £100 million.

What is likely to happen now is the Halabi Family Trust will sell their third of the scheme, the Qataris will replace them and Credit Suisse will be providing the financing that will allow the construction of London's first supertall.

[ablarc]

^ Good news.

[Zephyr]

Thanks for that post Meerkat.

I was traveling back to Toronto this last week, and essentially lost touch with where this project was drifting. The Comcast building in Philadelphia reminded me of The Shard of Glass as I motored out of NYC, but this one is on my short list, along with Chicago Spire and a handful of others, that need to be built from a world perspective.

Indeed that future London skyline would now be incomplete without it.

[Meerkat]

^ Very true Zeph.

Scaffolding slowly creeping up the exterior of the building the shard will replace. Picture courtesy of skyscrapercity. Things are definately happening at last. http://www.skyscrapercity.com/showthread.php?t=407549&page=109

http://xs221.xs.to/xs221/07455/lbt.JPG

[ablarc]

^ Wait a minute! Is that where Renzo got his inspiration for the New York Times Building?

[Meerkat]

^ I've just looked the New York Times building up on the internet, and you're right - a striking similarity!!

[wjfox2007]

A major announcement is expected this coming week - should be final confirmation of the funding.

[Meerkat]

^
I haven't heard anything yet, when are they expected to make this announcement?

[zupermaus]

Gawd is it aTALL possible to get ANYTHING off the ground in London, without the 5 year pissing about with lawyers, clauses, funding, contingency plans, engineering debacles and expensive portfolios for investors and shareholders to weigh up the profitability of their slice of pie? Then deciding not to do anything at all and selling off the land they bought as a profit (which was the original plan in the first place for those in the know).

The middlemen and construction companies are making a killing, the investors so scared of any element of risk, usually coupled with super safe designs to reflect their inbred banality (I know not in this case, but just look at Canary Wharfs repetitively watered-down-from-the-original designs), theyd rather blow their money on deciding not to take the risk than putting any plan into physical action. eg Lets blow 100 million quid on competituions, redesigns, enquiries, fees, lawyers, contingency funding and bureacracy that ultimately surmount to nothing than the 200 million quid it would cost if we just went ahead and built the bloody thing (with the most interesting architectural elements cut out to improve 'value').


One word: OBFUSCATION, (look it up if ya have to) its an increasingly profitable strategy for anyone involved in the 'decision making process'.

Strangely enough, news just in as of last week, London is now the worlds most expensive place to build in, with costs STILL expected to increase next year by up to 15%. Sure, the land is expensive but does it REALLY cost $1 billion for a 7 storey office building in the West End, $2.2 billion for a hospital, $4 billion for a sewer pipeline? $20 billion to upgrade a 400 mile rail line to high speed. With all the hoohaa for the $2 billion Kings Cross I was expecting a true 'palace to travel' as they make out. Yes it is glorious, it is impressive but surely how can they justify the cost when looking round, all is already built originals, and the new parts are simple glass boxes attached to the old. Basically new platforms built over the old storage rooms (and shops fitted in), with the roof cleaned and restored. Surely the cost of a snazzy out of town supermall wouldve cost more?

This is increasingly what big business is taking a leaf from: public spending. It ups their costs: to move a framed picture in a school costs $400, change a lightbulb $120, to even look at changing a toilet block sets you back $20,000 (without a single piece of furniture moved). All this because youd have to pay for some call out fee for some monkey to look at the picture/ lightbulb, weigh up the risk assessments and architectural plans of attack, then call out another set of people to carry out the painstaking work, forms to sign and bollards to put up and public access areas closed for inordinate amounts of time. In 1968 it took 4 years to build the entire Victoria Line on the Underground. Fast forward to 1992 and it takes private contractors 12 years to repair one single main escalator at Tottenham Court Rd, and paid by the hour with taxpayers money( imagine walking up 3 flights of stairs every day on your commute for 15 years while the escalator is sealed off with a few mechanics loitering about on it).


sorry, completely off topic to LBTower, its just a repetitive story these days - delay delay delays, cost cost costs. Im having a rant with the bigger picture.

[Luca]

I understand your frustration, Zupermaus. However I doubt that all that dilly-dallying is without purpose (i.e. risk limitation / due diligence).

Modern, democratic cities are places where any major project involves a multitude of 'stakeholders'. And the modern economy is one where any large investment, similarly, involves a lot of parties. Both structural aspects have pro and cons.

If the cons outweigh the pros, presumably you or someone else will show us all what we're doing wrong by doping it right. Not having a go at you, just reminding all that it's easy to criticize something when you don't have to do it yourself or risk your own money (or be accountable for someone else's).

I think that Canary Wharf in a way ahs been successful precisely because at least some of the difficulties of building a skyscrapers are already taken care of, so to speak.

On a related note, I personally think that large agglomerations of large/tall office buildings, like factories, should primarily be built away from historic towns/fabric (which can still contain the majority of businesses that do not require gazillion square foot towers, etc as well as a few, Iconic, slender towers).

[ablarc]

I personally think that large agglomerations of large/tall office buildings, like factories, should primarily be built away from historic towns/fabric (which can still contain the majority of businesses that do not require gazillion square foot towers, etc as well as a few, Iconic, slender towers).
Why ... that's a description of London ! :p

[Meerkat]

Whatever's happening with the shard of glass, they certainly seem to be taking their time putting up the scaffolding around the current building ready for demolition.

I could put it up quicker myself.

[zupermaus]

I understand your frustration, Zupermaus. However I doubt that all that dilly-dallying is without purpose (i.e. risk limitation / due diligence).

Modern, democratic cities are places where any major project involves a multitude of 'stakeholders'. And the modern economy is one where any large investment, similarly, involves a lot of parties. Both structural aspects have pro and cons.

If the cons outweigh the pros, presumably you or someone else will show us all what we're doing wrong by doping it right. Not having a go at you, just reminding all that it's easy to criticize something when you don't have to do it yourself or risk your own money (or be accountable for someone else's).

I think that Canary Wharf in a way ahs been successful precisely because at least some of the difficulties of building a skyscrapers are already taken care of, so to speak.

On a related note, I personally think that large agglomerations of large/tall office buildings, like factories, should primarily be built away from historic towns/fabric (which can still contain the majority of businesses that do not require gazillion square foot towers, etc as well as a few, Iconic, slender towers).


yep point taken, but my point is the grand, legislated corruption. It really doesnt cost $120 to change a lightbulb in a school but thats what they charge by pissing about until the labour and paperwork costs amount to that, citing health and safety clauses and potential lawsuits as back up for their inordinately complicative strategies. Its exactly the same for building projects, it really shouldnt take 12 years to fix an escalator or cost the taxpayer $2.2 billion for upgrading a hospital but it does.

Fair enough be careful and follow procedure, but its interesting to note it pays handsomely if you unneccessarily complicate things, delay projects and start risk enquiries. The lengths at which they do is criminal in all but name.

[Luca]

One thing I've found very surprising, given the stratospheric land values in London, is how slowly buildings projects progreess. Half the time, you can only see a handful of chaps in hard hats mucking about at the periphery of soem mosnter site. The Buildings that took over the wester side of Spitalfields market took something likr 2 years+ to go up from deomolition to completion. I saw it all from my office. They seemed to keep re-doing work. Just amazing....

[Meerkat]

^ This is true, but some developments progress far faster than others. Take a look at the Heron tower site. The buildings were demolished in a matter of weeks and the site is now in preparation for the new tower. The Broadgate tower went up very quickly.

As for the Shard of Glass - I share your frustration Zupermaus - the building already there (according to the official website) should be well into demolition - about halfway through in fact. In reality they are still putting up scaffolding, in fact i think there are only about 4 men actually working on the site (i was watching from the window where i work the other day). I'm wondering if it will get built at all now, there must be some reason they are dragging their feet.

http://www.shardlondonbridge.com/

http://www.shardlondonbridge.com/images/timeline/development_programme.gif

[Meerkat]

Some good news from skyscrapernews.com

Shard Secures Massive Middle Eastern Investment

Published on 2007-12-24 by Skyscrapernews.com

http://www.skyscrapernews.com/news.php?ref=1279


The developer behind London Bridge Tower, better known as the Shard, appears to have finally secured the necessary investment to move the project into full-blown construction.

In a deal involving QInvest, an investment fund representing four Qatari financial groups and private investors from around the Persian Gulf has seen two of the partners in the scheme, the Halabi Family Trust and CLS Investments completely bought out with the remaining partner, the Sellar Property Group reduced to having a 20% holding down from a third.

Press reports indicate that the scale of the deal is worth at least £1.4 billion to QInvest making the project the most expensive building in the world with a current value of perhaps £1.75 billion pounds or 3.4748 billion U.S dollars. Assuming the £1.4 billion sum is correct then it also values the remaining share of the Sellar Property Group at £375 million.

The big challenge for the consortium of groups involved in the Shard, Teighmore, had been to raise the massive amount of money needed to build the scheme whilst facing the decreasing availability of credit on the world financial markets, squabbling between partners and predicted annual increases in construction costs of 6% per year.

The injection of capital into the scheme by QInvest eliminates the first two problems completely by providing enough funds to build the project which is estimated at having a construction cost of £800 million, and secondly to remove two of the partners leaving only the Sellar Property Group.

With two pre-lets already secured and the apartments within the building set to fetch silly prices rivaling One Hyde Park the scheme should prove highly profitable for the backers assuming they can keep the costs under control.

It makes the Shard the third major skyscraper in London to have received backing from Arabs following the Heron Tower and Bishopsgate Tower and raises the interesting question of why British bankers don't see high-rise schemes in such a positive light compared to foreigners.

[ablarc]

The Buildings that took over the wester side of Spitalfields market
That seems like a real shame. Is it?

Is the market a shadow of its former self?

Is there a silver lining?

Is Foster the architect?

[Meerkat]

^Norman Foster and partners were the architects for Bishops square.

Personally i think the development has enhanced Spitalfields market and the surrounding area.

The reason for the delays with this particular development was because archaeological diggs in and around the site.

From British archaeology, December 1999:

http://www.britarch.ac.uk/ba/ba50/ba50feat.html

''Few recent archaeological finds have generated such intense excitement as the Roman sarcophagus discovered in London in March this year. The sarcophagus contained a complete lead coffin, in which lay the bones, and some of the belongings, of a wealthy Roman lady who probably died some time in the 4th century. The story was picked up by newspapers around the world.
The sarcophagus was the first to be discovered in London in almost 30 years, and the first containing a lead coffin in more than a century. Since its discovery, archaeologists have continued to study the burial and conserve the artefacts. The results are still preliminary, but this burial and the site as a whole are already proving to be one of the most fascinating archaeological projects yet carried out in London.
The site is being excavated by the Museum of London Archaeology Service (MoLAS) in advance of large-scale redevelopment of Spitalfields Market. The main focus of the excavation is the medieval priory and hospital of St Mary Spital which was one of the largest such establishments in the country, although no remains now survive above ground.
The excavations have found well-preserved remains of the hospital, together with more than 8,000 medieval burials, and houses and streets from the 16th-18th centuries that post-date the dissolution of the monastery. Beneath these remains lie one of London's principal Roman cemeteries, which lay outside the city walls alongside Ermine Street, the main road from London to the north''.



http://www.skyscrapernews.org/images/pics/34961BishopsSquare_pic1.jpg

[ablarc]

^ And this is better than the market building it supplanted?

[Meerkat]

^ No its not better than the origional market. 2/3 of it has gone and i think it is a great shame, but i think the development of the area could have been a lot worse. About 1/3 of the market remains, so i guess we should be glad of that at least.

[Luca]

^ And this is better than the market building it supplanted?

The buildings are very ugly (and considerably less luminescent than in the rendering (quelle surprise...). The urban arrangement has been incredibly successful and positive.

Must post pics......

Meerkat: I'm aware of the archeological aspects. AFAIK, they added a 2-4 months to the construction process, but it seemed still incredibly drawn out anyhow.

[ablarc]

The urban arrangement has been incredibly successful and positive.
High praise --especially coming from you.

So what is this "urban arrangement"?

[Luca]

High praise --especially coming from you.

So what is this "urban arrangement"?

Briefly, the Spitalfields Market area, at the border between City and East End, was neglected in the post-war years. When I first came to London in the early 1990s (and indeed until the early part of this decade), the City emptied completely after 7 pm on Friday. Furthermore, the area between the City and Brick Lane was virtually a wasteland, despite its rich history and not insubstantial architectural heritage.

The emergence of the area around and north of Brick Lane as a mix of original East End features and newly hip area coincided with the eastward and NE-ward expansion of The City (as shown in some of the other threads). However, the main east-west avenues of communication were far from ideal from an urban experience/pedestrian standpoint.

The new development has brought a large number of new retail spaces, while preserving the older, more historical portion of Spitalfields Market and its traditional market stalls. By extending the retail/eating places/pedestrian-friendly corridor to Bishopsgate (along Brushfield Street), it has created a mega-link between The Brick Lane/Commecial Avenue/former Truman Brewery area and the City/Bishopsgate. The amount of foot traffic/tourist passage and intermingling of “suits” and “hipsters” along the Brush field Street corridor has to be seen to be believed, especially on a sunny day. Where there was next to none before.

So you have a combination of:
1) Massive East End resurgence in the nearby area (tourism and hipsters)
2) A continuously expanding City with greater retail/residential/hotel presence
3) A development that created a much more vibrant and pedestrian-friendly street wall along the Western end of Brushfield Street while maintaining the “interesting” bits at the Eastern end of the street.

Having had the luck of working right there (you cans see my office to the left edge of the rendering above), I found it incredibly instructive as to the difference between architectural accomplishment and urban arrangement.

Note, however, that the original development proposal wanted to 1) wipe out the entire market and 2) would not have provided the same street-level amenities A victory for the planners/conservationists, it would seem.

[BenL]

The Shard now is now fully funded. Demolition is currently taking place, with a white sheet rising up the existing building.

Tuesday January 22 2008

LONDON, Jan 22 (Reuters) - The "Shard of Glass" development, one of London's most high-profile skyscraper projects, came a step closer to being built on Tuesday after a Qatari consortium agreed to finance the 2 billion pound ($3.88 billion) scheme.

The consortium comprises equal shareholdings of the Qatari Islamic Investment bank QInvest, Sellar Property Group, Qatar National Bank, Qatari Islamic Bank and Barwa, a statement said, after the acquisition of stakes held by CLS Holdings and the family trust of entrepreneur Simon Halabi.

QInvest Chief Executive Professor Abdul Latif Almeer said the development, near London Bridge just south of the City financial district, would " undoubtedly be Europe's most recognisable commercial property landmark."

"Our investment in this 2 billion pounds development not only reflects our admiration for what has already been achieved in getting the scheme to its present level, but also underpins our confidence in the London commercial real estate market," he said.

The news brings to an end months of speculation concerning the future of the development, which has been dogged by financing problems since the onset of the credit crisis last year.

With investment now secured, developer Sellar Property Group said it was confident it could fast-track completion of the scheme by the end of 2011.

But there are concerns that the 2 million square foot project could tip a fragile balance between office space supply and demand in London's financial district, as occupier take-up falters and banking sector job cuts mount.

Two major pre-lets have already been signed for the London Bridge Tower component of the scheme, with Shangri-La Hotels taking almost 200,000 square feet of space and Transport for London (TfL) contracted to occupy 190,000 square feet of office accommodation.

It is estimated that development of London Bridge Quarter will cost up to 1.4 billion pounds, with the majority of the initial construction finance provided by the Qatari consortium.

At 310 metres, London Bridge Tower will be Europe's tallest mixed-use skyscraper, the developer said.

[alonzo-ny]

Great news, this is a gorgeous tower!

[londonlawyer]

I agree.

[Zephyr]

Shard London Bridge - the UK's first 1000ft skyscraper

CLICK any part of images below to see Animated video of
planned demoltion and subsequent construction

http://alumni.lesroches.net/photos/images/1937/London_Bridge_Tower.jpg (http://www.youtube.com/watch?v=pDCyeX-sbVg)
Courtesy Les Roches Alumni

Demolition Animation starts at 00:32
Shard Construction Animation starts at 01:02
TOTAL TIME: 2 min 50 sec (No Audio)

[MidtownGuy]

Absolutely beautiful.
I can't help but think ....that clean design is what BOA should have looked like... instead of the goofy, fussy shape, stunted top and busy pin-stripe suit.

[alonzo-ny]

Thats the difference between a decent and a good architect.

[ablarc]

Absolutely beautiful.
I can't help but think ....that clean design is what BOA should have looked like... instead of the goofy, fussy shape, stunted top and busy pin-stripe suit.
Exactly.

[Meerkat]

A second red crane has appeared at the front of the existing building.

I took a picture the other day, but haven't been able to upload it, but i'll hopefully sort that out later this week.

There seems to be a lot of activity around the building, but demolition still hasn't started.

By the way, i work in the ugly tower to the right of the Shard in the rendering a couple of posts above :cool: