The Palazzo di Amore, the nearly eight-year project of real-estate investor Jeff Greene, has listed for US$195 million, making it one of the most expensive residential listings in the country. In Beverly Hills, the 10 hectares compound includes about 4920 square meters of living space, 12 bedrooms and 23 bathrooms across several buildings. A quarter-mile driveway runs past a vineyard before reaching the main home, an over 3250 square meters Mediterranean-style villa. A separate, roughly 1390 square meters entertainment center has a bowling alley, a theater that seats 50 and a dressing room, and a discotheque with a rotating dance floor. Other amenities include a Turkish-style spa and a 39 meters long reflecting pool. Mr. Greene, who made a fortune betting against subprime mortgages, bought the estate out of receivership for US$ 35 million in 2007 from Saudi businessman Mishaal K. Adham and his wife, while it was under construction. Mr. Greene said he bought the estate as an investment property, though he and his wife, Mei Sze Greene, were married there in 2007, with Mike Tyson as the best man. The name "palace of love" is a nod to their nuptials. The couple's main home is in Palm Beach, Fla. Mr. Greene said he always intended to sell the property, but construction wasn't completed "until literally a month ago." "Honestly, I didn't think it was going to be this much work," he said. He estimated he spent US$ 25 million to complete the home, which he said was a shell when he bought it. He said the property has been rented over the years, mostly to Saudi royalty. It was most recently listed for rent in September at US$ 475,000 a month. Mr. Greene spoke fondly of the property, but looking back on the process, he isn't nostalgic. "In hindsight, I never would have done this," he said.
While Germany has spent the last few years stealing the headlines for its remarkable advances in renewable energy infrastructure, neighboring France has, up until now, remained relatively silent on the matter of green energy. But this week Paris-based company Neoen broke ground on a 300 MW, US$ 450 million photovoltaic grid-connected installation at Cestas, which will provide power to nearby Bordeaux from October 2015-and the facility will be the largest photovoltaic power plant in Europe. Solar capacity in France has grown exceptionally slowly; according to Reuters it had "5,095 MW of photovoltaic capacity in June, which accounted for only 1 percent of its energy consumption in the first half of the year," in stark contrast with Germany's 37,000 MW. But Neoen suggests that prudence in the early years may be key to France's success. While Spain, for instance, has experienced a solar "bubble," France does not have comparable struggling or failed projects, and as such it was easier for Neoen to secure financing for this large-scale installation. And the costs for the output when it goes online look remarkably promising-it will provide electricity for US$ 131.46/MWh over 20 years. Speaking to Reuters, Neoen Chief Executive Xavier Barbaro explained that the Cestas installation will provide solar power "below the price of new nuclear electricity in Britain. So the parity between nuclear energy which is costing more and solar which continues to drop is happening now, in 2014... Four or five years ago, nobody thought that would be possible before 2020".
Property Development Company CJSC announced the launch of the construction of "Kamar" multifunctional business center in Yerevan by laying its foundation stone on November 6. The business center, designed in accordance with the most advanced international technologies, will be the first in Armenia to be certified by BREEAM (Building Research Establishment Environmental Assessment Method), a global leader in the design and assessment of sustainable buildings based in the UK. The development of the unique "A" Class office building will comply with the modern energy efficiency and environmental standards, thus considerably elevating the overall standards of the commercial real estate in the country. Property Development Company CJSC, the owner of the building, has approached to the project with ultimate responsibility and care, highly prioritizing the buildings in this historical area. For several years before the start of construction works, the company has been organizing various public discussions with experts and beneficiaries to identify the most appropriate solutions and to insure high level of transparency throughout the entire process. The initiative started at least 5 years ago. Right at the beginning of the project the company organized an open architectural contest for the development of the concept by involving the best and most recognized engineers and architects from various countries. Committed to preserving the values of Armenian history, they have stored every single stone from the old building. Company further developed an architectural and engineering solution that highlights the historical importance and overall design of this part of the city. The main problem is that the complex should combine innovative solutions with the old constructions. The total value of the project is about US$ 37 million. IFC, a member of the World Bank Group, will provide a US$ 9 million loan and secure another US$ 9 million loan from DEG (Deutsche Investitions und Entwicklungsgesellschaft mbH). The rest of the investment will be provided by Property Development Company CJSC.
A mini castle has gone on sale but the price tag is not as steep as might be expected. Set in the picturesque village of Upper Arley in Worcestershire, the two-bed semi-detached property even comes complete with its own turret. And the cost to get your hands on your own piece of history? Arley Tower is on the market for just US$ 420 thousand. Admittedly, it is a little small for the average sized family - but it's unlikely that you'll ever find a castle in this price range again. As well as it's own turret, the Grade II listed building boasts an octagonal staircase and roof terrace with sweeping views over the River Severn. It was built in a Gothic Revival style in the 1800s by Lord Mountnorris, owner of the Arley Estate. On the ground floor, you'll find two bedrooms with French doors leading from the master bedroom into the rear courtyard. Currently being sold by up market estate agents Knight Frank, the first floor has a vaulted living room and balcony. Inside, the house is surprisingly light and spacious, with modern decor and a large kitchen that looks out onto the back garden.
Hundreds of people packed a small outdoor ceremony at Fresno State to mark the start of construction of the Armenian Genocide Monument, which will be completed in time to mark next year's 100th anniversary of the genocide. Leaders of the Western Diocese of the Armenian Church, Western Prelacy of the Armenian Apostolic Church of America and Armenian Genocide Centennial Committee, Fresno joined local politicians, Fresno State leaders and throngs of community members at the event. The university set out 40 chairs, but a couple hundred spectators crammed around the site where the monument will be built. The primary message of the event was the importance of spreading awareness of the Armenian Genocide, which Fresno State Armenian Studies Coordinator Barlow Der Mugrdechian said killed as many as 1.5 million Armenians from 1915 to 1923. Der Mugrdechian said that on April 24, 1915, the Ottoman Turkish government began arresting and executing hundreds of Armenian religious, academic and political leaders. The stone-and-concrete monument will be dedicated on April 24, the 100th anniversary of the beginning of the genocide. It was designed by local architect Paul Halajian and will consist of nine pillars representing the six provinces of historic Armenia, Cilicia, the Diaspora and the Republic of Armenia. An incomplete halo will rest on top of the pillars, which is meant to symbolize both the damage left by the genocide and the unity of the Armenian people. It will be the first such monument marking the genocide on a U.S. college campus. It will be located on the Maple Mall walkway just south of the Satellite Student Union on Fresno State's campus. Fresno State Vice President for Administration Cynthia Teniente-Matson said this prime location will allow every single Fresno State student to see and learn from the monument.
