My life is rather good, but itās negligible compared to what that man has done for the art of architecture.ā Itās not every day that a Pritzker Laureate heaps praise on a commercial real estate developer. But thatās just want happened during a 1998 lecture by the late postmodern design pioneer Philip Johnson.
Reminiscing about his collaborations with Gerald D. Hines, Johnson gushed over the Houston developer, calling Hines his āmentor and Medici,ā adding, āEverything Iāve done, and everything Iāve been, I owe to Gerry Hines.ā
Over a span of nearly 30 years, Hines and Johnson teamed to create more than a dozen groundbreaking commercial developments. The unlikely duoāHines a Gary, Ind.-born math whiz who carried a slide rule in his suit jacket pocket all of his professional life; Johnson, a Harvard-educated, East Coast design elite best known for his Glass House and work with Ludwig Mies van der Roheāthrew the developer-architect rulebook out the window in creating some of Hinesā most daringāand successfulādevelopments.
Most notable is Houstonās Pennzoil Place, with its twin, 36-story trapezoidal towers. Some credit the acclaimed project, completed in 1975, with sparking a reconnection between architecture and commercial real estate development in the U.S. āAfter Pennzoil, everyone wanted something other than a box, it seemed,ā wrote architecture critic Paul Goldberger in 2012.
The Hines-Johnson alliance is one of countless stories chronicled by author Mark Seal in a new 464-page book about the developerās career and life, āRaising the Bar: The Life and Work of Gerald D. Hines.ā
The book offers a glimpse into the man who, fresh out of Purdue University in 1948 with a degree in mechanical engineering, road tripped to Houston with little money andĀ no place to live. In less than a decade, Hines was developing warehouses and small office buildings throughout the city. By the late 1960s, he was working on what would become some of the cityās most iconic buildings: One Shell Plaza, The Galleria, and later Pennzoil Place and Williams Tower.
Through his stories and projects, Hines, who turns 91 this year, offers a wealth of lessons in real estate development. A few that stuck out:
Know how to spot an opportunity. Hines was one of the first developers to gamble on the idea of high-rise living in Houston when he planned the 16-story Willowick apartment complex in 1963. While others questioned his move, Hines had a trick up his sleeve. He spotted a niche market that wasnāt being served: housing for widows, who preferred the security and efficiency of high-rise living over single-family homes.
Take pride in ownership. While other developers profit from flipping their properties, Hines favors the build-and-hold strategy. āI didnāt think anybody built them better than I did,ā he said. āI believed theyād be worth more in the future.ā Ā
Harness the power of great architecture. From Bruce Graham to Gyo Obata to Johnson, Hines invested in quality design because he realized the market was willing to pay for something that is truly unique. Great architecture makes good business sense.
For anyone who is fascinated by the world of commercial real estate development, āRaising the Barā is a must-read. Letās just hope that Hinesā lifelong passion for creating great buildings inspires a new breed of holistic, design-minded developers.
Related Stories
| Jun 26, 2013
New Yorkās āScaffold Lawā may be altered to place larger burden on workers
New York's Scaffold Law, which āplaces the burden of responsibility on the contractor to prove that the job site was safe for workers,ā could be facing a major change.
| Jun 26, 2013
Commercial real estate execs eye multifamily, retail sectors for growth, says KPMG report
The multifamily, retail, and hospitality sectors are expected to lead commercial building growth, according to the 2013 KPMG Commercial Real Estate Outlook Survey.Ā
| Jun 25, 2013
Mirvish, Gehry revise plans for triad of Toronto towers
A trio of mixed-use towers planned for an urban redevelopment project in Toronto has been redesigned by plannersĀ David Mirvish and Frank Gehry. The plan was announced last October but has recently been substantially revised.
| Jun 25, 2013
First look: Herzog & de Meuron's Jade Signature condo tower in Florida
Real estate developer Fortune International has released details of its new Jade Signature property, to be developed in Sunny Isles Beach near Miami. The luxury waterfront condo building will include 192 units in a 57-story building near high-end retail destinations and cultural venues. Ā
| Jun 20, 2013
In a BIM world, how much information is too much information?
What information do you find valuable to keep within the BIM world and what information do you feel is best archived or referenced outside of the model itself?
| Jun 20, 2013
Virtual meetings enhance design of University at Buffalo Medical School
HOK designers in New York, St. Louis and Atlanta are using virtual meetings with their University at Buffalo (UB) client team to improve the design process for UBās new School of Medicine and Biomedical Sciences on the Buffalo Niagara Medical Campus.
| Jun 19, 2013
Architects upbeat about the construction market
Following the first reversal into negative territory in ten months in April, AIA's Architecture Billings Index bounced back in May, reaching 52.9.
| Jun 19, 2013
NSF Sustainability begins verifying EPDs that can be used for LEED V4
NSF Sustainability has verified Environmental Product Declarations (EPDs) for nylon carpet styles and colors manufactured by Mannington Commercial and for J+J Flooring Groupās KinetexĀ® flooring product and Invision brand modular styles that use eKoĀ® backing.Ā Ā
| Jun 19, 2013
Florida is latest battleground over LEED standards centered on certified wood
A nationwide battle over forest certification standards continues to be played out nationally and in Florida with legislation passed this month.Ā
| Jun 19, 2013
Construction site safety improved in 2011
On-the-job construction fatalities dropped from 802 in 2010 to 781 in 2011, and recordable injuries fell from 4.7 per 100 workers in 2008 to 3.9 per 100 in 2011, according to data from the Bureau of Labor Statistics.Ā