ARCHITECTURE: IT WAS FUN UNTIL THE MONEY RAN OUT

Herzog & de Meuron’s 40 Bond Street, NYC

WHO knew a year ago that we were nearing the end of one of the most delirious eras in modern architectural history? What’s more, who would have predicted that this turnaround, brought about by the biggest economic crisis in a half-century, would be met in some corners with a guilty sense of relief?

Before the financial cataclysm, the profession seemed to be in the midst of a major renaissance. Architects like Rem Koolhaas, Zaha Hadid, Frank Gehry, and Jacques Herzog and Pierre de Meuron, once deemed too radical for the mainstream, were celebrated as major cultural figures. And not just by high-minded cultural institutions; they were courted by developers who once scorned those talents as pretentious airheads.

But somewhere along the way that fantasy took a wrong turn. As commissions multiplied for luxury residential high-rises, high-end boutiques and corporate offices in cities like London, Tokyo and Dubai, more socially conscious projects rarely materialized. Public housing, a staple of 20th-century Modernism, was nowhere on the agenda. Nor were schools, hospitals or public infrastructure. Serious architecture was beginning to look like a service for the rich, like private jets and spa treatments...MORE