That’s changing along with other factors such as the developers history of previously completed projects, how much of their own money they are putting up, and more stringent analysis on the actual market demand for any particular new condo building.

Many developers looking at starting new projects have reported a requirement for up to 70% of the units pre-sold before the release of funding. And a representative with First National Bank recently said his figure was 60%.

While there is no definite pre-sell magic number condo high-rise projects, especially larger ones who need to sell a lot of units are going to be very difficult deals to do and may be reserved for the very largest developers with a respected track record over a long period of time.

Entries were judged based on a combination of criteria including exterior and interior architecture, overall composition of the various aesthetic and functional elements required for a successful project, and (when applicable) landscaping and curb appeal.

The 2008 Design Excellence Awards judge panel consisted of five industry professionals. They are Darin Schoolmeester, principal at MVE & Partners; Susan Slotkis, adjuct assistant professor at F.I.T.; Bruce Englebaugh, Partner at Minno & Wasko; Christine Hunter, Principal at Magnusson Architecture and Planning; Jonathan Baron, Principal of Baron Design Inc.

This year’s award recipients represent a cross-section of projects around the US. Congratulations to everyone!

Here are the winners:

High-Rise - 5th & Madison, Seattle
Judges’ Comments: Original, Exposure of steel outside gives it real character, great site development, simple striking facade, site-responsive, urbane.

Mid-Rise - 25 Bond Street, New York
Judges’ Comments: Very original, unusual but respectful of the neighborhood.

Low-Rise - Colony at Bandon Cove, Bandon Oregon
Judges’ Comments: Refined, intellectual, contemporary forms are very warm but still contextual, great plans.

Low-Rise - Icon at Doyle, Emeryville California
Judges’ Comments: Effective massing, complex geometry makes for interesting spaces, subtle adaptive reuse, nice materials.

Mixed-Use - Luma, Los Angeles
Judges’ Comments: Groundbreaking, experimental as a high-rise in LA, nice common spaces, detailed outdoor roof, complex site plan, nice activation of ground floor with pedestrian use.

Green - Millennium Tower Residences, New York
Judges’ Comments: Well-appointed, much considered mechanics, well thought-out water treatment, luxurious with family-centered features and amenities.

Seniors - Parkview Terraces, San Francisco

Affordable - The Sutton, Harlem New York
Judges’ Comments: Clean, rich in materials, restrained in massing of buildings, good response to the street.

Transit Oriented - Pacifica, Long Beach, California
Judges’ Comments: Pretty, fresh, new.

Unbuilt - Mirabella South Waterfront, Portland Oregon
Judges’ Comments: Very thoughtful, it’s like a piece of jewelry.

Interior Design - Bethesda North Condominiums, Bethesda Maryland
Judges’ Comments: Great use of space, simple but well thought out interiors.

Media: Set 1. Award winners. Set 2. Selection of awarded projects (high resolution)

The Ritz-Carlton sent work crews home and told the press the delay would be caused by a need to change the Parkade design. A rather dubious explanation has now been made worse by stories of Realtors not getting paid for sold condos, and the developers hostile remarks that since it is a private project “I don’t …have an obligation to disclose what my private business plans are to you.”

On the heels of this there are now dozens of confirmed projects where funding is either drying up due to the credit crisis, investors are walking away from deposits, and buyers amid forecasts of plummeting housing values are losing interest.

All of this sounds painfully too familiar to condo developers in Miami Florida who experienced the exact same scenario of mass investor speculation and skittish buyers even as the boom was peaking.

In Vancouver this is probably just the beginning of the end for new condo towers and sadly, many more stories of financial losses can be expected.

Yet one project in Kentucky is hoping to buck the trend and attract buyers in spite of the poor economic conditions. SouthShore Condominiums in Newport, Kentucky have just announced their open house for the 17-story high-rise made up of 65 luxury units.

The sales stats at this stage are better than one might guess as 60 percent of the condo units ranging from $300,000 to 3M are reportedly sold. The combination of location, amenities and a relative number of units priced affordably may have something to do with the apparent success.

Southshore is waterfront property with a forthcoming boat marina and does not have to compete against the same glut of condos on the market hindering some more popular US markets.

Now the reverberation of the US failing economy is reaching the Asian market, where the boom had yet to go bust.

An example of the decline is The Oceanfront at Sentosa Cove (pictured), a luxury condo project in Singapore which has plunged 26 percent from one year ago, while two other prime properties, Ardmore II and The Trillium are not far behind.

Also notable in these figures is the effect the economy is finally having on luxury condo properties. The same Singapore study is reporting existing luxury condo properties falling in value from 5 to 10 percent in value.

As the global economy gets darker it will become increasingly difficult for condo towers to sell the required amount of units to obtain financing. This could then spell the beginning of a long dry spell for new condo hi-rise towers.

ConAm Group has just bought the 14 acre Piazza d’Oro project in La Jolla California for 30 million dollars. This is a project originally approved by the local Planning Commission as a mixed-use project including 201 condos.

ConAm will develop the site as apartments now with the option to turn them into condos at an opportune time in the future.

This is just a single example of a scenario being played out numerous times across the US, and it’s something to watch as a possible longer term method of developing condos into the future. We may see especially in the low-to-mid priced condo market a trend where it becomes common to build some kind of a mixed breed condo/apartment with the stated intention of having them convert at a later date.

The condos at Ritz-Carlton Vancouver are priced at $3M to $9M with the penthouse at $28.8M. The bottom 20 floors of the 60-story twisting tower designed by internationally famed architect Arthur Erickson are scheduled to hold 127 hotel rooms.

As global credit markets seize up many are suspecting the work stoppage due to a larger global economic crisis, but the developer has said it’s instead the result of modification to the building’s parkade.

CLM thinks it’s more likely to be related to the former than the latter, but we can only wait for confirming news.

If it turns out to be a financing issue it will be one of the first indications of a more wide-spread global economic crisis that is now affecting previously unaffected locations and otherwise positive condo projects - half the units at the Ritz-Carlton have been sold.

In Qatar, Garden Heights is a 20-story tower with a collection of 1, 2, and 3 bedroom condos, plus opulent penthouses that enjoy wonderful metropolitan views.

Garden Heights building features a curved facade, external aluminum framed glass windows and doors, and the conveniences of a metro lifestyle. The condo units feature ceramic tiled flooring, ceramic walls, gypsum ceiling tiles, marble kitchen countertops, and marble thresholds.

Amenities include aerobic centre, health club, sauna, and podium roof deck outdoor swimming pool.

Many westerners favor Qatar because of its close western ties. Qatar, an independent Arab state is a member of The United Nations, International Monetary Fund, and the World Trade Organization.

Giraffe will be about 200 condo units with stone countertops, Italian designed cabinetry, 9-foot ceilings and a transit friendly location next door to the Dunda West subway station in Toronto.

Giraffe will also go green (fitting as the namesake animal is a vegetarian), shooting for a LEED Canada Silver certification.

What’s also unique about Giraffe is they plan on including amenities at the request of actual residents who will inhabit the building. Sure, some basic and typical amenities are already in the plan but listening to the residents to come up with the final plan is refreshing.

There’s even a name for this genre, labeled Cybertecture by James Law, an accomplished architect who practiced at Gensler International before opening James Law Cybertecture International on the first day of the year 2001.

Cybertecture can loosely be defined as designing and creating a symbiotic balance between space and technology in order to create a new vision of the world. The idea goes beyond just the architecture of technologically advanced buildings, it includes the traditional discipline of master planning and incorporates the element of branding in its contained elements. While that sounds like a lot of futuristic vision, it is - it’s about embracing a techno-lifestyle now.

Open The Pad Bay Door
The Pad is perhaps the best example yet of James Law Cybertecture’s vision. A simple look at the exterior tells you there is something more going on than just a architectured building. The obvious hints to The Pad’s techno-motif make you wonder what’s inside - and when you look you’re not disappointed.

The Pad mantra is “living the future,” and it starts with its state of the art RFID (radio frequency identification) security system which grants amenity access to the right people and eliminates the need to carry multiple keys. Knowing you are living in a more safe and secure environment allows you to enjoy the features of The Pad even more.

The I’s Have It
The Pad separates each Cybertecture function into categories for the purpose of description.

iHealth is the label given to The Pad technologies designed to lead a healthy life. Incorporated technologies in The Pad’s bathroom can check weight, blood pressure and temperature, then store and track it for future reference. I can’t help but wonder if your doctor will someday have access to the data for monitoring a host of conditions. The possible applications for this basic idea are endless.

iArt allows you to tap into a server and change digital art so visually powerful it can consume your condo. If you have multiple pieces you can change the art every day - and change the tone of your condo without ever touching a hammer.

iControl is the feature that makes certain functions of The Pad controlled by voice. Voice command has always seemed a bit too futuristic, but the science has reached a point where it can be reliably used, and The Pad exploits this reality.

iReality brings virtual realty projection to your condo so you can change the view of your unit to, say, the New York or London skyline.

iFamily and Friends is intended perhaps for the business traveler. Now you can contact your family via video-conferencing - the next best thing to being there.

iCustomization is about mood changing light and color in your condo on command, even changing color as a response to incoming calls for example. Let’s say your new crush calls and the lighting changes to a deep purple, and then back to baby blue when resuming after your call.

All of these “i” features describe condo specific technological amenities - the actual building cybertecture is what the iClub is all about.

At The Pad’s iClub try out your own outdoor running track, aerobic center, gym, massage room, sauna, sports facilities, one of two lounge rooms, sun deck, juice bar, media jacuzzi where you can watch a movie while relaxing, lap pool, or “underwater concert” pool where you can listen to music underwater as you swim!

To Infinity And Beyond
No doubt there will be architectural purists who will claim The Pad is more fad than substance, and there will most assuredly be people who will admire the building from afar, but would never consider living in such a place.

That being said, The Pad was designed for a whole new generation of people who “get” futuristic technology and can more fully appreciate the Cybertecture lifestyle. These people don’t see technology as a limited exercise of living, they are happy exploring just how much we can on some level become technology.

That may seem “out there” but James Law is no crank, he is a serious talent on the cutting edge of modern architecture and lifestyle. The struggle in the future may be about which side “bends” more. Will architecture “see the light” and bend more toward Law’s Cybertecture, or will people demand a more subtle brand of new technology infused in more traditional architecture. It will be interesting to watch, but how can you not love The Pad as a techno-icon.

Media: The Pad Dubai