{"id":1004115488,"date":"2015-03-17T04:05:36","date_gmt":"2015-03-17T12:05:36","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004115488"},"modified":"2022-12-08T02:27:09","modified_gmt":"2022-12-08T10:27:09","slug":"tishman-speyer-plans-residential-development-in-rio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tishman-speyer-plans-residential-development-in-rio\/","title":{"rendered":"Tishman Speyer Plans Residential Development in Rio"},"content":{"rendered":"<p><i>By Keith Loria, Contributing Editor<\/i><\/p>\n<div id=\"attachment_1004115491\" style=\"width: 160px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Rob-Speyer.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004115491\" data-attachment-id=\"1004115491\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/tishman-speyer-plans-residential-development-in-rio\/rob-speyer\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Rob-Speyer.jpg\" data-orig-size=\"329,448\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;11&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;Canon EOS 5D Mark II&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1354287131&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;180&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.008&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Rob Speyer\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Rob Speyer&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Rob-Speyer.jpg?w=329\" class=\"size-thumbnail wp-image-1004115491\" alt=\"Rob Speyer\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Rob-Speyer.jpg\" width=\"150\" height=\"150\" \/><\/a><p id=\"caption-attachment-1004115491\" class=\"wp-caption-text\">Rob Speyer, Tishman Speyer<\/p><\/div>\n<p>Tishman Speyer is planning to develop Lumina Rio, a four-tower residential development project in the financial center of Rio de Janeiro, Brazil.<\/p>\n<p>If approved, this will be the company\u2019s first residential project in the area.<\/p>\n<p>\u201cWe have great confidence in the long-term vitality of Brazil as Latin America\u2019s economic powerhouse,\u201d Rob Speyer, Tishman Speyer\u2019s president &amp; Co-CEO, said in a company release. \u201cLikewise, Rio de Janeiro is one of the region\u2019s greatest cities and we are pleased to help meet the market demand for high-quality, well-located housing with this project.\u201d<\/p>\n<p>Lumina Rio will be constructed in Porto Maravilha, fronting Avenida Venezuela between L\u2019Oreal\u2019s future main office and Moinho Fluminense.<\/p>\n<p>The first tower is expected to have 360 for-sale residential units, and will be available about two years after approval. Units will boast a view to the Guanabara Bay and to Rio de Janeiro icons such as the Sugar Loaf and the Corcovado.<\/p>\n<p>Located by the Boulevard of the Maua Square, nearby the Museu do Amanh\u00e3 and the Museum of Arts of Rio, Lumina Rio will feature a fa\u00e7ade with curves and angles intended to capture Rio de Janeiro\u2019s elegance and modernity.<\/p>\n<p>\u201cThis project shows a reinforcement of our commitment to Porto Maravilla, the scene of Brazil\u2019s most ambitious urban project,\u201d Daniel Cherman, Tishman Speyer\u2019s senior managing director and country head for Brazil, said in the release. \u201cWith the support of the area infrastructure now in process, we see the dynamic mix of commercial, residential and hotel development activity bringing the area to new life.\u201d<\/p>\n<p>Tishman Speyer is no stranger in Rio de Janeiro, having already developed Ventura Corporate Towers, a two-tower, 1,146,356 square-foot office complex. It also has more than 20 Brazilian projects in pre-development, construction or operation.<\/p>\n<p>Looking at the commercial market in the country, JLL\u2019s 2014 Q4 Global Market Perspective shows that with a large new supply wave inundating the markets in Brazil, overall office market conditions are still weakening, and tenants continue to enjoy the lion\u2019s share of leverage over landlords. Vacancy rates remain on an upward path, reaching 18.6 percent in Rio de Janeiro.<\/p>\n<p>Of course, the company is staying busy in the U.S. as well. Tishman Speyer expects to break ground later this year on a <a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/northeast\/tishman-speyer-expands-footprint-in-boston\/1004111334.html\">14-story, 313,000-square-foot mixed-use development at Pier 4 in Boston\u2019s hot Seaport District<\/a>; its <a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/west\/tishman-speyer-china-vanke-break-ground-on-new-luxury-condos-in-san-francisco\/1004078070.html\">Lumina development in San Francisco<\/a> is under construction with units selling quickly; and it has developed or is currently working on luxury residential offerings in cities such as New York and Shanghai.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tishman Speyer will be further expanding in Brazil with the construction of an apartment project in Rio de Janeiro. <\/p>\n","protected":false},"author":451,"featured_media":1004115491,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,16,21742],"tags":[],"class_list":["post-1004115488","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-international","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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