May 2, 2021 - westbank presents its master vision for the sweeping transformation of san jose, redefining california‘s silicon valley. marking the world’s stage for innovation, silicon valley has long centered its focus on the digital space, leaving its built environment largely ignored. those who work in san jose spend too long commuting from other areas, only to find their work environments uninspiring and unhealthy. the team presents its newly designed westbank campus as a response to the structure of the city, and how it is failing its occupants and its natural context — finally bringing silicon valley’s built space into the future with a community-focused collection of residences and workspaces.

san jose has long hosted the ingredients for an intelligent and sustainable transformation, and westbank in partnership with urban community, peterson and OPTrust, has taken on the challenge. the sweeping westbank campus campus has been designed by a team of architects including kengo kuma, bjarke ingels group, james k.m. cheng architects, WRNS studio, and studio gang. the development addresses the city’s need for housing, a vibrant sense of community, and sustainable and performative buildings. the team commits to introducing thousands of low carbon residences within walking or biking distance from the inspiring, design-minded new workspaces.

park habitat by kengo kuma 

kengo kuma and associates designs its ‘park habitat’ as park of westbank’s san jose campus to hybridize green park space with living and working environments. the design was developed to address the urgent need to create residential and office spaces that embrace nature, rather than separate is users from it. the project integrates an engaging public realm, a ‘breathing green lung,’ pockets of nature, a responsive facade, and a rooftop park.

inspired by the organic condition of a mossy tree trunk, kengo kuma‘s ‘park habitat’ will recall the picturesque element of overgrown nature. the volume features pockets of green space, scaled to align with a typical office module. these modules are mixed and configured according to views, light, orientation, and function. the complex geometry is in fact shaped by light, itsshifting and stepping volumes informed by their relationship with the sun.

bank of italy by bjarke ingels group

bjarke ingels group will partner with westbank to revitalize san jose’s iconic bank of italy tower. the 95 year-old historically protected building has already seen its interior demolished and will soon be converted to become a new destination at the heart of the expanding city. the bank of italy will include retail, education, cultural club, and workspace programming. the design team at BIG seeks to approach the renovation project under the theme of adaptive reuse, expressing the heritage of the building while adapting contemporary ideas of living and working — resulting in a more dynamic hybridization of old and new.

bjarke ingels group’s bank of italy renovation will sidestep much of the harmful effects of the construction process while introducing a vibrant new sense of community. by reusing the foundation, structure, cladding, and roofing of san jose’s existing bank of italy, the team at BIG will avoid over 6,000 metric tons of CO2. at the same time, the exterior will see the addition of a stack of vegetated, cantilevering workspaces which taper away from the historic structure.

energy hub by bjarke ingels group

continuing its partnership with westbank, bjarke ingels group will realize an ‘energy hub’ as its second project for the san jose campus. surrounded by a network of alleyways, the hub will be located in the city’s heritage district at the convergence of a residential and commercial area. the team aims to maintain this fabric while introducing a porous and engaging mixed-use public realm. to do this, the density is shifted to the building’s upper levels, opening pedestrian access at the level of the street. 

bjarke ingels will divide the mixed use programming between three primary programs. with retail at the street level, the ‘legs’ of the structure will host residential units. above, the more dense upper half of the building will be occupied by workspaces looking outward across the city.

the orchard residences by james k.m. cheng architects

the ‘orchard’ will span two distinct projects within westbank’s campus in san jose. the orchard is comprised of two different sites at 300 s 1st street and 409 s 2nd street, that will be developed as an urban campus. the two sites delineate the major uses of the campus—workspace and rental residential—though the retail, alleyways and public spaces at grade. the residential at 409 s 2nd street by james k.m. cheng architects consists of a single tower designed to respect and celebrate the distinct roof of the existing bo town restaurant, previously on-site. habitable, active and sustainable rooftops with energy capture are common to both sites.

the orchard urban campus is designed in collaboration with james k.m. cheng architects leading the design for the residential component and WRNS, the workspace.

the smaller of the two orchard sites, the residential, will be designed by james k.m. cheng architects. the work will introduce rental dwellings at 409 S 2nd St. to be integrated into the surrounding SoFa arts neighborhood. the concept of the ‘vertical orchard’ is introduced to the urban site to celebrate the agricultural heritage of san jose. by integrating vegetation into the roofs and facades, the vertical orchard not only fully replaces the productive land displaced by the development, but further contributes to agricultural production through the facades of the building.

the orchard workspaces by WRNS studio 

the next ‘orchard’ site within westbank’s san jose campus will be completed by WRNS studio and will be entirely commercial. the larger of the two orchard sites, WRNS’ workspace orchard is split into two towers connected by a podium and will bridge a neighborhood activated by students and a vibrant arts and culture district. a street level market and food hall will be topped by a workspace podium divided between the two towers. the pair of volumes will be connected by a podium with large floor plate workspace and amenities above ground floor retail. The rooftop of the podium also provides an urban theater that can be utilized for public events as well as by the tenants of the building.

the two volumes of the WRNS-designed orchard workspaces are organized with an L-shaped configuration. this L-shape introduces a ‘pulled back’ condition to introduce a generous public plaza at the street level. meanwhile, the connective podium is pushed down to respect the scale of the building’s low neighbors. the rooftop of the podium provides an urban theater that can be used by the occupants and will host public events.

arbor by studio gang

studio gang looks to the ecology and geology of the san jose context in designing the timber ‘arbor’ workspace for the westbank campus. the project seeks to establish a new model for how a typical workspace can mitigate climate change by introducing a new and biodiverse ecosystem. the expressive wood structure will filter the sun and sound and provide access to plantings and terraces that connect its users with nature.

studio gang designs ‘arbor’ to be built with mass timber to substantially reduce both carbon emissions and the physical weight of the structure. the benefits of this construction include speed of on-site construction, seismic strength, and fire resistance, along with a warm atmosphere that celebrates a connection with san jose’s biodiversity and ecological heritage.

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Westbank is Transforming San Jose with a Star-Studded Team of Architects

WBC Building Artistry Skyline

the standard luxury property magazine interview: ian gillespie, founder of westbank, shares the "fight for beauty" to build a body of work in the world's most liveable cities, and the importance of building artistry

July 9, 2023 - The lack of uber-luxury apartments in Tokyo, a city otherwise full of indulgent shopping choices, has long baffled foreign investors. But that’s starting to change as new developments with sweeping views, swimming pools and 24-hour valets are snapped up by local and overseas buyers taking advantage of a weaker yen and low interest rates.

At The Kita, a complex designed by award-winning architect Kengo Kuma, a penthouse residence with a rooftop infinity pool was sold last week for around $50 million, according to its Vancouver-based developer Westbank. The 507 square meter (5,457 square foot) unit has a view of the lush forest surrounding the nearby Meiji Shrine.

That deal followed the start of sales for the 1,002-unit Mita Garden Hills by top developer Mitsui Fudosan Co., where one 3-bedroom unit was offered for 590 million yen ($4.1 million) in February. The sales were widely seen as the main reason the average selling price of new apartments in the Tokyo area doubled year-on-year in March. Price gains have moderated since then but were still up 60% in April and 48% in May, according to the Real Estate Economic Institute. 
“The market here is very much under-supplied. That’s why there’s strong demand,” said Tetsuya Kaneko, the head of research at real estate company Savills.  “Also, inbound and full reopening of the border helped."

Japan’s rich, seeking privacy and assisted by private bankers, often turn to off-market deals in which properties aren’t listed. With new, high-end apartments, developers tend to shroud price details in secrecy. But the eye-popping prices of big, luxury developments don’t remain secrets for long. 
Later this year, Mori Building Co. will finish its Azabudai Hills project near the central district of Roppongi. Of the 1,400 luxury units, 91 are Aman-branded residences. A penthouse unit in the 64-story tower has already reportedly been sold for around 20 billion yen, the highest price ever recorded for a Japanese apartment, according to Savills. 

For millionaires on more modest budgets, Toranomon Hills Residential Tower, another Mori development, has a three-bedroom unit with a view of Tokyo Tower for resale at 890 million yen, according to a realtor. 

Mori pioneered the development of sprawling, mixed-use developments in central Tokyo. Its Roppongi Hills project, which opened in 2003, is credited for introducing the appeal of high-rises to Japan’s wealthy home buyers. Traditionally, many of them avoided conspicuous properties, preferring quiet, standalone properties in Tokyo’s western districts. Those who wanted property in the city often opted for discreet homes in relatively quiet, old-money neighborhoods such as Hiroo and Azabu rather than apartments in central business areas. The shift has been slow, but Savills says the concentration of executives’ homes has definitely moved from the outer neighborhoods to areas such as Shinjuku and Roppongi. 

One change, industry experts and executives say, has been the rise ofyoung, tech entrepreneurs who took their companies public in recent years. The typical Japanese buyers of Mori’s Azabudai residences are company founders in their 40s and 50s, according to Kosei Ajima, the company's head of residential business promotion. While some are paying in cash, the Bank of Japan’s prolonged easing stance means borrowing costs are minimal.

Brokers also cite growing demand from overseas buyers who see Japan as a stable and attractive place for a second home. Jack Ma, co-founder of China’s Alibaba Group Holding Ltd. who’s been spending more time in Japan after criticizing Chinese regulators in 2020, isn’t the only one.

Tokyo-based real estate firm Post Lintel Investment Management, which works with funds and family offices, has seen its luxury residential transactions increase by about 40% in the last two years. The company’s high net-worth clients from Hong Kong, Singapore and Taiwan are seeking to diversify their assets and take shelter from growing geopolitical tensions around China, according to executive director Joey Yang.

Many of those wealthy Asian buyers are paying in cash or obtaining low-interest loans from foreign banks with local branches. There are few restrictions on foreign property ownership in Japan, and the weak yen also ensures a big discount, brokers said. 

“The yen is cheaper and it’s stayed that way, the political climate in China and Hong Kong has a lot of people shifting their money out, and look at the taxes Singapore has put on foreign buyers,” said Zoe Ward, the chief executive officer of Japan Property Central KK, a brokerage that services mainly foreign clients. 
While the definition of luxury real estate is different in every country, in Japan, the term usually applies to apartments over 100 square meters, although smaller units that cost a few million dollars can still be considered high-end if their buildings come with amenities such as gyms and concierge services. Super-prime properties refer to even more exclusive residences catering to the ultra-rich and typically sell for over$10 million. 

Regardless of the bracket, Tokyo’s luxury apartments are seen as more affordable than comparable listings in other global cities. A prospective buyer with a million dollars can purchase twice as much prime real estate space in Tokyo than they would in New York, and three times more than in Hong Kong, according to Knight Frank’s annual wealth report for 2023. Japan’s inflation, which is picking up after years of deflation and lackluster economic growth, is also bolstering the real estate market on the back of higher labor and raw material costs. Following the burst of Japan’s asset-inflated bubble economy in the early 1990s, properties typically began depreciating from the moment they were sold. But the recent rise in asset prices has meant apartments are starting to maintain or increase in value. Post Lintel’s Yang, who also buys apartments in Tokyo as personal investments, thinks a luxury unit he purchased in 2020 has nearly doubled in value judging from recent sales of similar properties. 
The trend has meant a sea change in the mindset of prospective buyers, who are now faced with the fear of missing out. Yukiko Takano, a real estate advisor at List Sotheby’s International Realty, said more people were beginning to see property as a viable and potentially
rewarding investment. 

“I think Japan is finally realizing that real estate is a commodity,” she said. 

— Lisa Du with assistance by Jane Pong


News

the standard luxury property magazine interview: ian gillespie, founder of westbank, shares the "fight for beauty" to build a body of work in the world's most liveable cities, and the importance of building artistry