Here’s why unique, distinct buildings are viewed as cash cows

The answer lies in northern Spain

TRD WEEKEND EDITION /
Oct.October 21, 2017 03:00 PM

(Xauxa/Wikimedia Commons)

Twenty years ago, a small town in northern Spain underwent a transformation thanks to the opening of a new museum, the Guggenheim Museum Bilbao. Art tourists flocked to the small town, invigorating its local economy and turning it into a global destination — the results of which are now known as the “Bilbao Effect.”

Surface interviewed a series of renowned architects about how the Bilbao Effect changed them, including Zaha Hadid Architects director and senior designer Patrik Schumacher.

“We were well aware that the atmosphere and receptiveness around unusual architecture had really shifted,” he said in a statement to Surface. “Now, a lot of times we hear that we are invited to competitions that are looking for an iconic landmark, which puts the city on the map. So many cities have been trying to do that.”

Designed by Pritzker Prize-winning architect Frank Gehry, the museum opened on Oct. 18, 1997 and, as of January 2016, has generated about $427 million in direct spending over the past two decades while employing almost 6,900 people.

To celebrate its 20th birthday, the museum is free this weekend — just in case you’re in northern Spain and hadn’t heard of Bilbao.

[Surface] — E.K. Hudson


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)

Real estate stocks push up this week as U.S.-China trade tensions ease

416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case

The Observation Deck at Hudson Yards (Credit: Adam Pogoff)

Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere

Donald Trump with Rep. Emanuel Cleaver II, Rep. Ron Kind and Sen. Cory Booker (Credit: Getty Images, iStock)

Trump’s Opportunity Zone program is under investigation

From left: 172 Madison Avenue, 100 East 53rd Street, Woolworth Tower, 53 West 53rd Street, 615 10th Avenue

Loan wolves: Bankers are stalking developers as debts come due

Pope Francis (Credit: WIkipedia, iStock)

Unholy real estate strategy: Catholic churches shuffle properties to shield billions from sex abuse victims, report says

(Credit: iStock)

Real estate created the Chinese elite. Here’s what happens next

The agreement was signed today at UBC’s New York Council offices in Manhattan by Nathan Blecharczyk, Airbnb co-founder, Chief Strategy Officer, and Frank Spencer, General Vice President of UBC.

Airbnb hammers out partnership with carpenters’ union

arrow_forward_ios
Loading...