Real Estate Circus

Real Estate Circus

Magdalena Ursula Koestler

This project originated from an attempt to access newly developed housing around the WaltherPark area in Bolzano. Even arranging a viewing proved difficult: access was regulated through informal criteria, requiring a display of cultural and social capital. Only with external support (my father) was it possible to enter the process.

What followed was a confrontation with prices that appeared radically detached from everyday realities. This raised a fundamental question: how are these prices legitimized, and who are these spaces actually built for?

While new, high-end housing is actively marketed as revitalization, parallel research revealed a persistent contradiction: a high level of vacancy within the city, including centrally located buildings that have remained empty for decades. The photographic work responds to this tension. One key site is a house near the Talfer river, vacant for approximately twenty years despite its prime location. Rather than portraying emptiness as absence, the images stage temporary gestures of activation by placing bodies, objects, and signs into these dormant spaces. The Real Estate Circus thus operates both as a visual investigation and as a call to action—seeking to transform passive observation into collective awareness.

<p>WELL....</p>

WELL....

BOZEN WTF?

BOLZANO ON DIET

DO U KNOW VACANY?

<p>VISIBILITY!!!</p>

VISIBILITY!!!

YOUR TURN

ÄHHH YOUR TURN

<p>NOO I AM SERIOUS! SHARE YOUR LOCAL KNOWLEDGE :)</p>

NOO I AM SERIOUS! SHARE YOUR LOCAL KNOWLEDGE :)

<p>THXX!</p>

THXX!

<p>SOAP BUBBLES FOR U</p>

SOAP BUBBLES FOR U

A project made in the course

Space Ötzity

For the first edition of Spatial Design, the students will be invited to investigate and react to the WaltherPark case study. The story of WaltherPark in Bolzano is one of the most emblematic and contested urban transformations in South Tyrol, where questions of design, politics, and identity converged around a single site at the edge of the historic centre. Conceived in the early 2010s by the Austrian developer Signa and designed by David Chipperfield Architects, the project promised a new commercial, residential, and cultural hub on land long marked by infrastructural gaps and post-war buildings. Its path to realization, however, was anything but linear.
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