Time Equities, Inc. (TEI) announced that the company has invested in Urban Umbrella Enterprises LLC, the company set to deliver the newly unveiled Urban Umbrella pedestrian sheds in New York City.
The Urban Umbrella, the first major design alternative to the sidewalk shed in over 50 years, will complement the architectural beauty of New York while increasing visibility and safety for pedestrians around buildings under construction or exterior renovation. In 2009, Mayor Michael R. Bloomberg, the Department of Buildings and the American Institute of Architects launched the “urbanSHED International Design Competition,” challenging the design community to create a new standard for the traditional sidewalk shed.
Urban Umbrella was selected as the winner from over 164 designs submitted by architects from 28 countries. The Urban Umbrella was designed by a team consisting of Young-Hwan Choi, Sarrah Khan and Andres Cortes from New York-based architecture firm Agencie Group.
“At Time Equities, we believe the Urban Umbrella is the future for sidewalk sheds, changing the streetscape of New York and complementing the remarkable architecture of the City. The creativity and innovation in the design will ensure neighborhoods are not completely disrupted by construction allowing for a better quality of life for New Yorkers and visitors,” said Francis Greenburger, founder and chairman of Time Equities.
The Urban Umbrella design will allow more natural light to reach the sidewalks and improve the overall aesthetic of buildings under construction. The new design will make it easier and safer for pedestrians to walk around and enter the building by reducing sidewalk obstructions and implementing a modern design that will eliminate exposed bolts. The Urban Umbrella will also have a significant impact on local businesses as the new sidewalk shed will no longer hinder pedestrians from entering the building.
“As a patron of the arts and a developer, I know the Urban Umbrella will make our city stand out even more than it already does. I look forward to including the Urban Umbrella as we continue to invest in new developments in New York,” said Greenburger.
