In today’s news, we will look for more information about The Fifth, the first office building in the United States designed by Alberto Campo Baeza, which can now be seen in updated renderings. Meanwhile, Tim Cook and Joe Biden Will Assist TSMC In Revealing A $40 Billion US Chip Buildout. Additionally, the Farm Bureau Building has been purchased by Gallatin County, and renovations are forthcoming. Ashtead and Ferguson, on the other hand, will present an analysis of the current state of the construction and building industries in the United States.
Alberto Campo Baeza’s first U.S. office skyscraper, The Fifth, has new renderings
Original Source: New renderings reveal more details of The Fifth, Alberto Campo Baeza’s first U.S. office building
From Downtown Miami, take the MacArthur Causeway to 5th Street in South Beach, where Spanish architect Alberto Campo Baeza will build his first US commercial project. The Fifth Miami Beach will have 60,000 square feet of Class A office space and several amenities. The project was announced in 2021, and exterior imagery was revealed this year. Gabellini Sheppard Associates’ fresh renderings show the project’s magnificent interiors.
The Fifth Miami Beach is one concept for a post-pandemic office. The project shows that tenants value lifestyle over office aesthetics. It has wide indoor/outdoor areas, deep terraces on all four elevations, wellness amenities (sauna, spa, gym, and restaurants), floorplan flexibility, and short walks to surrounding houses, hotels, and hot spots due to its position. (A MiMo property adjacent calls the region a “walker’s paradise.” )
The Fifth Miami Beach will be the first new workplace in South of Fifth in 15 years, yet its finishes, details, and services are designed to create a serene residential atmosphere.
Campo Baeza told AN that making work at Miami Beach was crucial. The building’s exterior shows its elemental expression of slabs covered in glass between its 14-foot floor-to-floor height. “Facades are always a means of communication, like the cover of a newspaper,” the architect said, and these showcase South Florida’s light, air, and views.
Campo Baeza said society sometimes associates innovative architecture with odd things. He calls his work “serene, silent, and maybe classical” since his buildings can last and “welcome the future.”
An inner courtyard illuminates the foyer and office floors. This lets workplaces be layered around the floor. (Campo Baeza related this “classical” concept to his largest office building, a 2001 headquarters for Caja Granada in Spain, constructed around a vast “impluvium of light.)
The roof will contain a bougainvillea garden on a terrace. Campo Baeza said architects sometimes overlook the top, which is the most beautiful. Architects may “underline the beauty of the city” here.
Two buildings on the Fifth Miami Beach campus will be restored as part of the project. The new five-story building exudes Miami beauty, but these Michigan Avenue structures help integrate the construction with the city.
The Miami Beach Historic Preservation Board unanimously approved the project after a “substantial renovation” that salvaged these buildings. The structures will become juice bars. A level is taken from the two-story building to create a double-height room, and the roof of the adjacent one-story will be demolished to create a butterfly garden/outdoor eating space.
New York-based Sumaida + Khurana and Bizzi & Partners developed The Fifth Miami Beach. The team completed Álvaro Siza Vieira’s first U.S. project and Tadao Ando’s first New York building before this project in Miami. Bizzi & Partners, with four offices on three continents, created Eighty Seven Park in Surfside, designed by Renzo Piano Building Workshop. (Until Champlain Towers South fell last year, the building was next door.) Campo Baeza built a private residence in Garrison, New York, in 2008. The Fifth Miami Beach is his first U.S. commercial project. His addition to Magazzino Italian Art, a Cold Spring museum and research center, is being built alongside Miguel Quismondo.
The project’s short movie shows a day in the building’s existence, including its ground-floor restaurant.
The Fifth Miami Beach team includes executive architect Cube 3, landscape architect Urban Robot Associates, and leasing agent Cushman & Wakefield. Developers expect a 16-month build starting early next year.
Tim Cook, Biden Help TSMC Announce $40 Billion US Chip Buildout
Original Source: Tim Cook, Biden to Help TSMC Unveil $40 Billion US Chip Buildout
Second Arizona facility to increase investment. Apple, others seek US-made sophisticated chips.
On Tuesday, President Joe Biden will join Apple Inc. CEO Tim Cook and Advanced Micro Devices Inc. CEO Lisa Su at an Arizona ceremony for Taiwan Semiconductor Manufacturing Co., where the chipmaker will unveil a $40 billion investment and a second production facility.
Cook, Su, and Biden will visit TSMC’s $12 billion Phoenix plant, part of the administration’s push to bring more chip manufacturing to the US and avoid a repetition of the supply interruptions that cost corporations hundreds of billions in sales.
After Apple and other clients urged TSMC to develop more advanced semiconductors in the US, Bloomberg News reported that TSMC increased its plans. Cook told staff that the Arizona factory under development will supply chips.
Apple Prepares for US-Made Chips in Asia Pivot
Bloomberg claimed that TSMC’s increased ambitions and Cook’s appearance were Biden’s victory lap in a state critical to his 2024 reelection bid. In November’s midterm elections, Democrats captured Arizona’s governorship and US Senate seat.
After Apple and other clients urged TSMC to develop more advanced semiconductors in the US, Bloomberg News reported that TSMC increased its plans. Cook told staff that the Arizona factory under development will supply chips.
Bloomberg claimed that TSMC’s increased ambitions and Cook’s appearance were Biden’s victory lap in a state critical to his 2024 reelection bid. In November’s midterm elections, Democrats captured Arizona’s governorship and US Senate seat.
In August, Biden signed the Chips and Science Act, providing $50 billion in incentives for US semiconductor manufacturers. TSMC may be subsidized billions. The president has visited factories around the country to promote US chip manufacture.
National Economic Council Director Brian Deese told reporters Monday that Apple and AMD “will be sourcing major chips from TSMC’s Arizona facility” and that the second TSMC plant will begin construction this year with production in 2026.
Deese noted that US and global corporations are investing and expanding here because of this long-term approach.
TSMC to Make More Advanced Chips in US at Apple’s Request
When operational, the two factories will generate over 600,000 wafers annually. TSMC produced 4% of its global output in 2021.
The president, Commerce Secretary Gina Raimondo, and TSMC leaders, including founder Morris Chang, Chairman Mark Liu, and CEO C.C. Wei, will celebrate a Phoenix site building milestone. Nvidia Corp. CEO Jensen Huang will attend.
The plant will produce advanced 4-nanometer chips in 2024, and the second facility will generate even more advanced 3-nanometer chips. When TSMC starts making 3-nanometer chips in Arizona in 2026, its technology will still be one generation behind Taiwan’s.
Taiwan-based TSMC supplies chips for cellphones, electric cars, and more.
Taiwan’s semiconductor supply is threatened by China.
Bloomberg News stated that TSMC’s clients have urged the business to launch its latest technologies simultaneously in the US and Taiwan, which would assist the Biden administration meet its objective of producing the world’s most advanced chips in the US. However, Taiwanese and industry executives plan to keep the latest innovation at home.
TSMC Arizona’s two fabrication units are expected to create 10,000 high-paying high-tech employment, including 4,500 direct TSMC employees. Over 10,000 construction workers helped build the site.
Gallatin County buys Farm Bureau Building, renovates
Original Source: Gallatin County purchases Farm Bureau Building, renovations to come
Gallatin County bought the 19th Street Farm Bureau building to accommodate services that couldn’t fit into the new courts complex.
“Everybody that comes in likes this atrium,” says Gallatin County Chief Operating Officer Nick Borzak.
The agriculture bureau facility cost Gallatin County $3.9 million.
“We had some other justice building users who were going to need a home,” explains Gallatin County Commissioner Scott MacFarlane.
Borzak recommends rebuilding the first floor for level one records, judicial services, and 911 records.
The county planned to build a $9 million structure half the size of the Farm Bureau headquarters.
MacFarlane suggests asking neighbors about selling new buildings near school.
The county says tenants’ leases are month-to-month until September, when they intend to start improvements. Renovations will cost $2–4 million.
Being near to the under-construction courts building and the former law and justice center should improve flow.
“You can see the form on the enormous courts building right on the opposite side of the snow pile so it’s any obvious connection,” explains Borzak.
They envision a county services campus as the structures are completed.
MacFarlane believes that fleshing out the campus offers us additional parts to move so we can be creative.
This building will undergo renovations in 2023 and open with the County Courts facility next door in 2024.
Ashtead and Ferguson analyze US construction and building health
Original Source: Ashtead and Ferguson to provide insight into health of US construction and building
Proactive Investors – FTSE 100-listed Ashtead Group PLC (LON:AHT) and former blue chip Ferguson PLC update US construction markets.
As the US construction sector remained robust, Ashtead, a construction equipment hire business, reported greater first-quarter revenues and earnings than projected in September, but rising borrowing costs negated this performance.
Despite raising US, Canada, and UK rental revenue guidance, it maintained full-year profit targets.
Hargreaves Lansdown (LON:HRGV) analysts said: “Medium-term prospects look good, as the US attempts to build out its domestic supply chains there should be an excess of projects that drive up demand for Ashtead’s equipment.
Ashtead has watched the big businesses consolidate and flourish over the past decade. Last quarter, $337m was spent on bolt-on acquisitions, a major expansion strategy. The purchases were lower-margin enterprises, so scale benefits were largely offset by margin decrease.”
Given cost concerns, margins will be monitored.
Ferguson, a plumbing supply company, raised its final dividend 15% and prolonged its share buyback in September despite a fourth-quarter slowdown and expectations of more.
The £24bn firm, which left the FTSE 100 earlier this year to become a principal listing in New York, will report on its first-quarter trading to end-October.
UBS analysts predict organic sales growth of 15% “with volumes somewhat down and pricing still inflationary” with acquisitions pushing total sales to 19%, down from 21.4% in the fourth quarter of the previous financial year, 23.1% in the third quarter, and 29.1% in the first half.
EBITA to rise 2% to US$781mln.
Ferguson predicted “low single digits” net sales growth and adjusted operating margin of 9.3% to 9.9%.
Summary of today’s construction news
Overall, we discussed the Fifth Miami Beach, designed by Spanish architect Alberto Campo Baeza, as one option for a new workplace in the wake of the pandemic. Tenants’ preference for lifestyle over office aesthetics is demonstrated by this project. Despite being the first new office building south of Fifth Avenue in 15 years, The Fifth Miami Beach aims to make its tenants feel as though they are in a residential building.
On the other hand, at a ceremony in Arizona for Taiwan Semiconductor Manufacturing Co., President Joe Biden will join Apple Inc. CEO Tim Cook and Advanced Micro Devices Inc. CEO Lisa Su in announcing the chipmaker’s $40 billion investment and second production site.
Also, the 19th Street Farm Bureau building was purchased by Gallatin County in order to accommodate services that were unable to be accommodated within the new courts complex.
In addition, FTSE 100 business Ashtead Group PLC (LON:AHT) and former blue chip Ferguson PLC update the US construction industry. As the US construction industry remained strong, Ashtead, a construction equipment hire company, reported stronger revenues and profitability than expected for the first quarter in September, although rising borrowing rates negated this performance.
