Podcast Host, Professor, Writer

Month: November 2010

Speaking with DawnTown founder, Andrew Frey

MIAMI BEACH, FL - DECEMBER 03:  People look at...
Image by Getty Images via @daylife

Growing up in New York City, one learns to love architecture. The old, the new – the constantly changing landscape. I had the opportunity to learn about DawnTown, an organization which is as in love with the concept of dynamism in architecture as I am. They have started a design competition that draws international submissions of innovative ideas for Miami, but the concept can certainly be taken to other cities as Andrew Frey discusses. Check out our Q&A: Transforming Miami: Art Basel’s architecture competition, DawnTown by going to the Speakers Corner section of the site. Art Basel is next week, and one year I hope I can attend.

Happy Thanksgiving!

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Forbes Middle East and Infrastructure Investing

An accurate version of File:Arabic_speaking_wo...
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A friend and colleague recently moved to Dubai to help launch Forbes Middle East. She hired me at Forbes many years ago, and reached out to me to freelance. I have posted my first piece on ways to get invest in the infrastructure boom in the MENA (Middle East and North Africa) region in selected clips. It is in Arabic which is the first time a piece I submitted in English has been translated for publication into a different language.

One doesn’t often see pieces coming out of MENA that focus on investing. I believe this is one missing piece in understanding a region which mainly gets discussed in terms of oil or national security.

My piece focuses on the boom in infrastructure spending that regional government stimulus funds have encouraged. “Qatar, UAE, Egypt, Saudi Arabia and Kuwait are embarking on noteworthy infrastructure schemes, with Qatar set to experience the most significant growth.”

That means that publicly traded engineering, cable and pipe firms are solid investment opportunities. I discuss Egypt’s Orascum, ElSewedy Electric, Saudi Basic Industries and Abu Dhabi’s Drake and Scull International which are engaged in a diverse array of projects.

Definitely worth an investor’s look!

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A New York City Story: Governors Island

Early view of New York City harbor. From the T...
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In the life of a freelancer, occasionally an article will not get the green light. In this case, I wrote an overview of the ongoing redevelopment of Governors Island and I would like to share it. The island has a unique place in New York City history and it is a great rejuvenation story as well. So here it is:

THE PROJECT: Turning a former military base into a mini-city

THE BUDGET: Over $250 million

THE TIMELINE: 2005 – ongoing

Governor’s Island was a fishing camp for Native Americans before a Dutchman, Wouter Van Twiller, bought the property in 1637 for two ax heads, a string of beads, and a handful of nails for his own private use. As it passed between Dutch and British control, a British Lord also tried to build his own mansion on the island. Mostly though it has been a military base from 1800 through 1996 when the latest inhabitants, the U.S. Coast Guard left – meaning its 172 acres (nearly half the size of the National Mall in Washington DC) have been off limits to the public for two centuries.

Beginning in 1995 discussions began over what to do with this choice piece of real estate located in one of the world’s most densely populated cities. President Clinton gave 22 acres to the National Park Service in 2001; a year later President Bush’s administration agreed to sell the remaining 150 acres for a dollar to the city and state of New York with the stipulation that there be no permanent housing and limited commercial ventures, e.g., no gambling. The transfer was official in 2003.

The challenge: where to get the money to get everything on the island up and running. Maintaining the island, which includes a ferry service to get staff and visitors to the island, is $14 million a year. Add the upgrades needed to abandoned buildings, landscaping – a superb tear down opportunity albeit with limited funds and squabbling siblings: state and city governments could not agree on project priorities.

Finally this past April, New York City took over control of the island, creating the Trust for Governor’s Island. The Trust employs a four-part strategy to tackle the enormous amount of work to be done. The first is to increase the number of people coming to the island. Back in 2005 when the island opened for business, 8,000 people ventured into this newly discovered territory; this summer the Trust expects 400,000 according to spokesperson Ms. Elizabeth Rapuano. It helps that the U.K.’s popular Prince Harry has played polo on Governor’s Island for the past two years in a charity polo event.

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