Day: May 22, 2024

Nvidia’s big day is here

Jensen Huang of NVIDIA talking
Nvidia CEO Jensen Huang.

Halfway to the weekend! Capri Sun is selling giant jugs for customers whose appetites — but not tastes — have grown up. (Or maybe they're still struggling to get those yellow straws through the pouches.)

We're also running a Memorial Day sale for 80% off our Business Insider subscription. More on that here.

In today's big story, all eyes are on if Nvidia's earnings report will send its shares surging even higher.

What's on deck:

But first, here comes Nvidia.


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The big story

AI, for better or worse

Photo illustration of Jensen Huang.

The stock market's darling takes center stage today when Nvidia reports earnings after the bell.

No company has captivated investors quite like Nvidia over the past year. Even amid a bullish market, the AI chipmaker has stood out.

Nvidia's performance reads more like a meme stock than a company with a market cap north of $2.3 trillion. This year alone it's up nearly 100%.

But can it keep climbing?

Business Insider's Matthew Fox has a rundown on what Wall Street expects from Nvidia. Even with its upcoming release of a next-generation chip potentially dimming demand for its current chips, some analysts see Nvidia still having room to run.

As complex as stock analysis can be sometimes, the case for Nvidia is fairly simple. Big Tech has big plans — and budgets — for AI. The only way to get there is using Nvidia's chips.

It might not always be that way. The Financial Times recently reported Nvidia's rivals and customers are supporting an effort to break the company's dominance in the space.

But for now, it's Nvidia or bust.

Scarlett Johansson and Sam Altman

Elsewhere in AI land, things aren't going as swimmingly.

The buzz from OpenAI's humanlike voice feature for ChatGPT has quickly faded. Self-congratulations quickly turned to backtracking after Scarlett Johansson threatened legal action over how "eerily similar" one of ChatGPT's voices is to hers.

On the one hand, AI being accused of misusing creative work isn't new. (Not that that makes it OK.)

But tussling with Johansson is particularly risky, writes BI's Eammon Jacobs. The actor went head-to-head with Disney over the release of "Black Widow" and secured a settlement.

It also begs the question: Are we sure these OpenAI people are as smart as we think? BI's Katie Notopoulos has more on that.

Even if Johansson doesn't escalate things — OpenAI already pulled the voice — it's another setback for a company looking to gain people's trust that has plenty of skeptics, including its own former executive.

It's also an example of what some allege is OpenAI's "ask forgiveness, not permission" strategy, writes BI's Hasan Chowdhury. (It's giving "move fast and break things.")


3 things in markets

JPMorgan's Marko Kolanovic against a green background.
  1. Wall Street's biggest pessimist isn't backing down. JPMorgan's Marko Kolanovic is the lone top strategist among the big banks predicting a market downturn. He recently doubled down on his take that the S&P 500 will fall about 20%. "We do not see equities as attractive investments at the moment and we don't see a reason to change our stance," Kolanovic wrote.
  2. The crypto world is getting excited about another ETF. Approval for an ethereum ETF could come as soon as this week, sending the price of the cryptocurrency surging more than 20%. It could also be a step toward further legitimizing bitcoin, and the wider crypto market, according to one expert.
  3. China dumped a record amount of US bonds last quarter. The country sold $53.3 billion worth of Treasurys and agency bonds over the first three months of 2024, Bloomberg reported. The acceleration is another symptom of deteriorating trade relations between Beijing and Washington.

3 things in tech

Apple TV +, Peacock, and Netflix logo inside a lasso
  1. We have some theories about the discount for Comcast's new streaming bundle. For $15 a month you can get Netflix, Peacock, and Apple TV+, which is about $8 cheaper than if you bought them separately. One reason could be subscribers coming from broadband companies, like Comcast, are less likely to churn.
  2. ICYMI: Here's what went down at Microsoft Build. At its annual developer conference, the company unveiled Team Copilot, which will bring its AI agent to Microsoft Teams chats and meetings. OpenAI's Sam Altman also made a surprise appearance to talk about GPT-4o and offer advice to founders and developers.
  3. How the leaders of the world's biggest tech companies spend their spare time. From Mark Zuckerberg's newfound love of the UFC, to Elon Musk's obsession with gaming, to Bill Gates' luxury car collection, here's a list of wealthy tech execs' favorite hobbies.

3 things in business

A highway sign that reads "Welcome to WeLoNoBroSoWa."
  1. Neighborhood names are getting much, much dumber. You may have noticed that in booming cities, the names of neighborhoods are getting weirder — take Denver's RiNo, SoBo, LoDo, and LoHi areas, for example. It's all an attempt by builders to redevelop neighborhoods in their image.
  2. Trump's proposed tariffs could cost Americans $500 billion a year. Researchers at the Peterson Institute warned Trump's planned taxes on imports could have households spending an additional $1,500 each year. They also said the plan would hit lower-income households harder.
  3. These are the most affordable cities to buy a home in the US. SmartAsset identified 12 areas where the median home price is below $175,000 and no higher than 2.5 years' worth of local incomes. The Midwest dominated the top of the list.

In other news


What's happening today


The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. George Glover, reporter, in London.

Read the original article on Business Insider

Take a look inside Graceland, the Memphis mansion that Elvis Presley called home. His granddaughter is fighting a forced sale.

Graceland's exterior.
Graceland's exterior.

  • Graceland is the 13.8-acre estate in Memphis, Tennessee, that Elvis Presley once called home.
  • The King of Rock 'n' Roll lived in the house from 1957 until his death in 1977.
  • Now, Presley's granddaughter is fighting to stop an auction of the estate.
It's been 47 years since Elvis Presley died, but legions of fans still flock to Memphis, Tennessee, to see the sprawling Graceland estate the star once called home.
Rock and roll singer Elvis Presley strolls the grounds of his Graceland estate in circa 1957
Rock 'n' roll singer Elvis Presley stands in front of his Graceland estate.

Per the official Graceland website, Presley lived in the mansion from 1957 until his death in 1977. Located off a highway that was renamed Elvis Presley Boulevard in 1971, the two-story residence sits on 13.8 acres of land.

Since 1982, Graceland has operated as a museum dedicated to the star. Ticket packages offer access to the mansion, with prices for adults starting at $82. According to the website, it has hosted over 20 million visitors from across the globe.

On May 19, 2024, a public notice announced the foreclosure sale of the property, claiming that Promenade Trust — which operates Graceland — owes Naussany Investments and Private Lending $3.8 million to repay a loan that Presley's late daughter, Lisa Marie Presley, took out in May 2018.

However, Lisa Marie's daughter, the actor Riley Keough, filed a lawsuit to prevent the auction of the estate, alleging that the signatures on the loan documents were forged.

A temporary restraining order was granted, delaying the auction. An injunction hearing is scheduled for May 22, per USA Today.

Also known as the "King of Rock 'n' Roll," Presley was a cultural icon of the 20th century.
Elvis Presley
Presley is also known as the King of Rock 'n' Roll.

Presley was born on January 8, 1935, in Mississippi. Heavily influenced by the country, gospel, and blues music that he listened to as a child, Presley started his singing career in 1954.

With hits such as "Hound Dog" and "Can't Help Falling in Love with You," he would go on to become one of the most successful performers of all time, with 14 Grammy nominations and millions of records sold, per the Recording Academy.

On August 16, 1977, Presley collapsed in his Graceland home and was found unconscious by his girlfriend, Ginger Alden. She documented the moment she found him on the master bathroom floor in her 2014 memoir, The Mirror reported.

According to The New York Times, coroners pronounced him dead on the same day, with the official cause of death attributed to heart failure. He was 42 years old.

Presley purchased the Graceland estate in 1957 for $102,500.
Exterior view of Elvis Presley's house Graceland, Memphis, Tennessee, United States
Exterior view of Elvis Presley's house, Graceland, in Memphis, Tennessee.

The Colonial Revival-style mansion, which was built in 1939, has eight bedrooms and four bathrooms, The Guardian reported after a tour of the house. About half of the 23 rooms in the house are off-limits to visitors, including the entire second floor — where the star's master suite is located.

According to the Graceland website, visitors are only allowed access to common spaces, including the living room, the kitchen, and the TV room. Spanning 17,552 square feet, the sprawling residence has five sets of staircases, three fireplaces, and a kidney-shaped swimming pool.

Presley frequently had friends and family over at the mansion, including an entourage of confidants and associates the media dubbed the "Memphis Mafia." Some members of the group were childhood friends of Presley's, including his bodyguards Red and Sonny West.

In 2006, Graceland was designated a National Historic Landmark, per the National Park Service.

One of the most iconic features of Graceland is the entrance gate. Designed to resemble a musical score, there are figures on the gate depicting the star with his guitar.
Front gates to Graceland.
Entrance gates to Graceland.

According to the museum's website, Presley had the gate — which cost $1,339 — installed shortly after he purchased the residence. Throngs of fans would wait by the gate in hopes of catching a glimpse of their idol. Occasionally, he would also sign autographs for them through the gate.

"Back in the day, if you were ever at the gates of Graceland and you saw the cars around the front of the mansion, that meant Elvis was home," Angie Marchese — the Graceland archivist — told The Daily Express.

The brick wall that surrounds the estate is also popular with fans, the website states. Over the years, it has been covered in personal messages that fans have left in memory of their idol.

The interiors of Graceland are lavishly decorated. The living area has a custom-built 15-foot sofa and a 10-foot coffee table.
Elvis' Living Room in Graceland.
Elvis' living room in Graceland, with a custom-made 15-foot sofa and coffee table.

The sofa was originally a metallic blue, but Presley later had it reupholstered in white — which is what it still looks like today, per the Graceland website. He added the stained-glass windows in 1974 and chose to use a peacock design, which symbolizes eternal life and resurrection in ancient Christianity.

The dining room, which has black marble flooring in the center, was a place for Presley and his friends to gather.
Elvis Presley's dining room in Graceland.
Elvis Presley's dining room in Graceland.

"Elvis sat at the head of the table because it did give him one of the best views of the TV that's over to the corner on the right," Marchese said during a 2020 Instagram Live on the estate's official account.

She added that there was also a button under the table where they could call the kitchen for more food.

One of the most famous rooms in Graceland is the Jungle Room.
The 'Jungle Room' At Graceland
An armchair in the corner of the Jungle Room in Graceland.

The room's name only came about after the mansion opened to the public.

Presley personally picked out the Polynesian-inspired furniture because it reminded him of Hawaii, which was his favorite holiday spot, per the museum's website. He installed a waterfall and covered the room with plants to complete the look.

A shag carpet covers both the floor and the ceiling, per the website. This soundproofed the room and allowed Presley to turn the space into a makeshift recording studio. Presley recorded some of the songs on his album "From Elvis Presley Boulevard, Memphis, Tennessee," here.

The pool room features fabric-lined walls and ceiling, which took 10 days to install.
The pool room
A fan takes a photo of the pool room.

The Graceland website states that Presley worked with a designer, Bill Eubanks, to develop the room's concept.

A crew of three was needed to cut and attach 350 to 400 yards of cotton fabric strips to the walls and ceiling.

Presley died upstairs in his master suite, and it has been preserved exactly as he left it.
One of the staircases in Graceland
One of the staircases in Graceland during Christmas.

"It looks as if he just got up and left," Marchese said during the 2020 Instagram Live. "The record on the record player is the last record he listened to. There's a styrofoam cup that sits on a bookshelf."

Towards the end of his life, Presley spent much of his time holed up in his bedroom upstairs, especially if he was "in pyjamas or unshaven," Alden told The Daily Express.

The TV room, which is designed in a navy, white, and yellow color scheme, has three television sets.
The TV room
The TV room.

Inspired by US President Lyndon Johnson, who liked to watch three news broadcasts simultaneously, Presley also wanted three television sets in his TV room, per the official Graceland website.

Although the upper floor remains off-limits, Presley's office desk has been brought down and turned into an exhibit for fans to see.
Elvis' upstairs office
Elvis' office on the upper floor.

Presley's record label, RCA, gave him the desk as a gift for selling one million copies of the "Blue Hawaii" soundtrack, Marchese told The Daily Express.

Presley's gold records are on display in the Hall of Gold in the Trophy Building.
Elvis Presley's gold records on display in the Hall of Gold in Graceland.
Visitors can walk down the famous Hall of Gold to see the star's gold records.

Presley constructed a new wing in the mansion in the mid-1960s to store a slot car track, as stated in Graceland's National Historic Landmark Nomination application.

Connected to the main house via a sheltered walkway, the estate renamed the new wing the "Trophy Building" and remodeled it to house his awards.

The estate updated the building in 2017 to feature an exhibit that focuses on Presley's personal life and his family, per the Graceland website. Some items on display include his wedding outfit, family photos, and his daughter's childhood toys.

Presley enjoyed playing racquetball. After he died, the racquetball building was transformed into an additional trophy hall for a few years.
Elvis Presley memorabilia on display in the racquetball building in Graceland.
Elvis Presley memorabilia on display in the racquetball building in Graceland.

The entire room was filled with posthumous awards and included a display of his famous jumpsuits, per the museum's website. In 2017, the racquetball court was restored to its original condition and all the trophies were moved into a new exhibit.

Presley has been laid to rest alongside his parents on the grounds of the Graceland estate, in the Meditation Garden.
Elvis Presley's grave at Graceland in Memphis, Tennessee
To commemorate the anniversary of his death, fans from around the world leave flowers at his grave during Elvis Week.

Elvis Week, which commemorates the anniversary of Presley's death, takes place between August 9 and August 17, per the museum's website.

Every year, fans from around the world flock to Graceland to leave flowers at his grave. The estate hosts around 500,000 visitors every year.

Presley's only daughter, Lisa Marie Presley, is also buried in Graceland, next to her late son Benjamin Keough and close to her father.
USA Photo of Lisa-Marie PRESLEY and Priscilla PRESLEY and Elvis PRESLEY, with his wife Priscilla and daughter Lisa-Marie - c.1970
Lisa Marie Presley, Priscilla Presley, and Elvis Presley. c.1970

Lisa Marie Presley died on January 12, 2023, at 54. The announcement of her death came hours after her mother, Priscilla Presley, confirmed she had been rushed to the hospital.

In an August 2022 essay she wrote for People Magazine, Lisa Marie spoke about grief and how she was "destroyed" by her son Benjamin Keough's death. She also blamed herself "every single day."

Keough died by suicide in July 2020, at 27, and was buried at Graceland.

In January 2023, a representative for Riley Keough, Lisa Marie's eldest daughter, confirmed in a statement to BI that her mother would be buried next to her son.

Elvis Presley saw a resurgence in popularity in 2022 when the Baz Luhrmann movie, "Elvis," starring Austin Butler and Tom Hanks, came out in theaters.
Austin Butler as Elvis Presley
Austin Butler starred as Elvis Presley in the Baz Luhrmann movie, "Elvis."

Members of the cast showed up at Graceland for the Memphis premiere of the film on June 12, 2022, per the daily Memphis newspaper The Commercial Appeal.

A press junket to promote the film was also in the screening, including a GMA interview with Tom Hanks and Austin Butler recorded in the Jungle room.

 

May 22, 2024: This story has been updated to reflect details of the ongoing lawsuit regarding the property's foreclosure.

Read the original article on Business Insider

I was an airline pilot for 11 years. The Singapore Airlines incident shows why you should always wear your seatbelt.

Emma Henderson.
Emma Henderson worked as a pilot for Easyjet from 2009 to 2020.

  • Captain Emma Henderson MBE was a pilot for Easyjet for over a decade. 
  • She told Business Insider passengers should keep their seatbelts on at all times to avoid injury.
  • It comes after a Singapore Airlines flight was hit by extreme turbulence, and one passenger died.

This as-told-to essay is based on a conversation with Emma Henderson MBE, a former EasyJet pilot. It has been edited for length and clarity.

I'm a former airline captain. I started flying 30 years ago when I was at University.

I became a first officer at EasyJet in 2009, and worked there for 11 years until I took voluntary redundancy in 2020.

The Singapore Airlines incident this week is a reminder that passengers should always wear a seatbelt when flying, even if the seatbelt sign is off.

This is for people's safety. The basic truth is that an aircraft is a hard surface, and people are soft.

Turbulence does happen, and when the aircraft moves around, if you are not strapped into your seat, you can move out of it.

A sudden movement of the aircraft down will result in you staying where you are in that space until you catch up with the aircraft. And it means you risk injuring yourself if you are not strapped in.

The interior of Singapore Airline flight SQ321 is pictured after an emergency landing at Bangkok's Suvarnabhumi International Airport, Thailand, May 21, 2024.
The interior of Singapore Airlines flight SQ321 is pictured after an emergency landing at Bangkok's Suvarnabhumi International Airport.

Turbulence can be unexpected

Aircraft are equipped with weather radar, which shows what's ahead of you. If there's water ahead, it paints it as a certain color on a screen; if there are hailstones ahead, it paints it as a different color.

Some of the weather radar systems on the newer aircraft that I operated can also show thunderstorms and turbulence.

However, it's not possible to see everything all of the time.

The reason it's recommended that seatbelts are fastened during the flight, even when the seatbelt signs are switched off, is because anything can happen at any time.

Even if you're flying in very clear air with good visibility all around you, an aircraft might have crossed your path a couple of miles ago, and you could fly through their wake, and you'll get a slight jolt.

Putting on a seatbelt just means you know that if anything should happen, you are much less likely to become injured.

Singapore Airlines incident

The interior of Singapore Airline flight SQ321 is pictured after an emergency landing at Bangkok's Suvarnabhumi International Airport, in Bangkok, Thailand May 21, 2024
The damage on Singapore Airlines flight SQ321 saw panels and oxygen masks hanging from the ceiling.

What happened with the Singapore Airlines flight was an extreme case. It's very unusual for something like this to happen in such a way.

When flying in an area like that, you're flying through areas with a lot of high-energy air movement and thunderstorm activity. And at this time of year there's a lot of heat in the atmosphere and a lot of moisture in the atmosphere.

So it sometimes is the case that you might be flying through weather and be aware that there is a risk, but there's not any immediate risk visible.

You can't climb above the clouds in that situation, and sometimes you just have to punch through them. You avoid the worst areas, but you can't see everything.

If you're flying in an area where there are very few other flights around, there's less information available. So it's unsurprising that something like this could happen and take people unawares.

Pilots are trained to deal with situations like this, and it's a testament to the high caliber of training of the Singapore Airlines pilots that even though they knew there were injured people aboard and one fatality on board, they were able to land safely in Bangkok.

They still brought that aircraft to a safe landing. Their training kicked in, and that's what you have to do.

My own experiences with turbulence

I've never encountered anything like what happened yesterday because it is so rare.

There are three different types of turbulence: light, moderate, and severe.

I have experienced moderate turbulence while descending through bad weather into Geneva, for example.

If you have to land somewhere, you don't have much choice. You will divert around as much of it as you can, but at some point, you may have to fly through quite bumpy weather.

When you're in the flight deck, and that's happening, you have complete confidence in your aircraft because you know it can withstand the extreme forces that it can be subjected to.

You trust your instruments, your aircraft, your instinct, and your skill.

I don't ever worry about flying, and even after the Singapore Airlines incident, I wouldn't worry about flying because I know it's so unusual.

I know the aircraft can withstand those forces and because I know everything about what happens on a flight, I don't worry about it.

Read the original article on Business Insider

I toured an Arizona neighborhood that banned cars and found a walkable oasis in the middle of a Phoenix suburb

Culdesac Tempe: An alleyway lined with white buildings with red trimmings
Culdesac is a housing startup with a car-free neighborhood in Tempe, Arizona.

  • Culdesac is a car-free neighborhood in Tempe, Arizona.
  • The housing startup has 200 residents who use bikes, scooters, and ride-share services to get around.
  • Take a look inside the walkable oasis filled with courtyards, local shops, and plenty of shade.

Walkable neighborhoods are on the rise. In a country run by cars, many millennials and Gen Zers are willing to spend more to live in a community where it's easy to get around without a vehicle, according to a 2023 study by the National Association of Realtors.

Enter Culdesac — the budding Arizona block making a name for itself as the "first car-free neighborhood built from scratch in the US."

Located in Tempe, home of Arizona State University, Culdesac is a community where cars are banned. It's been a project in the making since 2018. Last year, the neighborhood opened to residents. Now, 200 people live on the 17-acre block, a company representative told Business Insider. Eventually, Culdesac plans to house 1,000 residents.

As a New Yorker without a car, Culdesac intrigued me. So, on a recent trip to Arizona, I visited the car-free neighborhood and thought it felt like an urban oasis in the Phoenix suburb.

Culdesac is in the greater Phoenix area.
A map of Arizona with arrow pointing to Culdesac Tempe
Culdesac is in Tempe, Arizona.

The neighborhood is located on the east side of Tempe, just about 10 miles from Phoenix.

I recently got a private tour — and the chance to chat with the CEO.
Culdesac Tempe: Left: A person in a green shirt stands in front of white buildings
CEO and cofounder Ryan Johnson lives at Culdesac.

During my visit, I met with CEO and cofounder Ryan Johnson. After years of working in the real estate and transportation industries — and traveling to walkable places around the world — he was inspired to create a neighborhood free of cars.

From New York City to Budapest, Johnson says his travels launched a passion for cities.

"I saw those places and said, 'Wow, this is a much better way to build a city — with thoughtful architecture, great transportation systems,'" he told BI.

Johnson added that developments in the transportation industry, from ride-share apps to public transit systems and electric bikes, have made living car-free possible in places like Arizona.

Johnson, who grew up in Phoenix and currently lives at Culdesac, hasn't had a car in 14 years.

All around the property, I spotted electric bikes and scooters.
Culdesac Tempe: Two Electric Bikes parked in a floral area surrounded by white and blue buildings
Electric bikes parked at Culdesac.

Visitors and delivery drivers can park their cars at Culdesac, but residents cannot.

The company representative told BI that for residents with cars, "it's regulated through their lease agreement that they won't park on-site or on any public streets within 0.25 miles."

Some residents park their cars elsewhere in Tempe, while others, like Johnson, don't have a vehicle at all. Residents get around on foot, bicycles, electric bikes, and electric scooters. The neighborhood has more than 1,000 bike parking spots.

One Culdesac resident previously told BI that living without a car can be challenging outside the neighborhood, as the surrounding city was built for vehicles.

However, according to the company's website, Culdesac provides residents with a mobility package worth almost $3,000 a year to make transportation easier. It includes a complimentary Valley Metro pass for the light rail that goes through Phoenix and Tempe and discounts on ride-share apps like Lyft and Waymo, a self-driving cab service.

My tour began in the plaza.
Culdesac, Tempe: A red, brick courtyard with a map in the middle and jumbo Connect Four and shaded tables on the left
The Plaza at Culdesac in Tempe.

The plaza, located across from the neighborhood light rail stop, is the communal center of Culdesac. It's marked by a sculpture by artist Matthew Salenger that doubles as a canopy.

Here, there are games, shaded tables, and weekly events.
Culdesac Tempe: A blue ping pong table in a red-brick courtyard surrounded by white buildings
A ping-pong table in the plaza.

Every Thursday evening, Culdesac hosts Little Cholla, a public outdoor night market with music, vendors, food trucks, art, and activities such as line dancing and yoga.

There's also a two-story gym.
Culdesac Tempe: Inside an empty gym full of exercise equipment
Inside the fitness center.

A two-story building in the plaza with giant windows is home to the neighborhood fitness center. It offers workout classes and is lined with equipment.

Across from the plaza, there are local shops run by residents.
Culdesac Tempe: A shop with brown doors behind an outdoor table, trees, and shrubbery
A storefront at Culesac.

From thrifted clothing to unique dishware and candles, there's plenty of local shopping at Culdesac.

According to the company's website, there are about 11 micro-retail shops, including a market, a laundromat, a medical spa, an art studio, and a plant shop.

These micro-retailers have the option to live in their workspace.
Culdesac Tempe: A storefront with a brown, open door showing inside
A peek inside a micro-retail shop.

The company representative told BI that the small-business owners at Culdesac are residents, and some even live in their stores thanks to a zoning permit that allows them to do so.

All the stores have kitchens and bathrooms, and some have bedrooms.

Steps from the plaza, the neighborhood has a restaurant with outdoor seating.
Culdesac Tempe: A brick courtyard with a restaurant with outdoor seating on the left ad a map on the right
Cocina Chiwas is a restaurant on the property.

In April 2023, Culdesac's Cocina Chiwas opened. It's a family-owned Mexican restaurant serving Chihuahuan cuisine.

As I strolled the communal paths, I noticed that Culdesac didn't feel as hot as the surrounding streets. That's because there's no asphalt on the property.
Culdesac Tempe: a red brick road lined with white buildings
A wide, shaded pathway in the neighborhood.

It's no secret that the Phoenix area is hot — sometimes dangerously so in the summers. So Culdesac was built to keep pedestrians cool without asphalt — a road material that gets hotter in the sun.

In the residential areas, the walkways are narrow.
Culdesac Tempe: A narrow alleyway between two white buildings with green and pink plants on the sides of the buildings
Paths lead to residents' quarters.

Culdesac intentionally placed the buildings close together to create as much shade as possible.

The buildings' color is also no accident. Culdesac chose white because it reflects sunlight rather than absorbs it.

Between residential buildings, there are courtyards with grills, tables, hammocks, and firepits.
Culdesac Tempe: A courtyard with white buildings and a table and grills on the left in front of a colorful mural
A courtyard in the residential area.

More than half of the entire property is open, landscaped space.

Culdesac has apartments ranging from studios to three-bedroom floor plans.
Inside a living room with blue and brown furniture, a mounted TV, and wide windows on the left show a balcony outside
Inside one of the units.

Culdesac currently has 172 units. More will open in the fall, and the neighborhood will eventually have 760 units.

Studios start at $1,300 a month, one-bedrooms are $1,400, two-bedrooms are $2,100, and three-bedrooms are $2,900 a month.

On the outer rim of Culdesac, there's a bike shop with tune-up services.
Culdesac Tempe: Inside a bike shop with helmets, bikes, clothing, and other accessories on display
Inside Archer's Bike Shop.

Archer's Bike Shop sells manual and electric bikes. And Culdesac residents get complementary services and product discounts.

Culdesac seems like a place where people can not only live car-free but also get to know their neighbors.
Culdesac Tempe: A white building with brown doors behind shrubbery and a small table with two chairs
The Culdesac leasing office.

After my visit to Culdesac, I chatted with Brad Biehl, a 24-year-old resident from Colombus, Ohio. Biehl has lived in the neighborhood for six months. He said one of the best parts of living there is the sense of community.

"We're usually in environments where we walk from our door to our car and from the car into the place," Biehl said. "But here, to go anywhere, I usually pass at least two or three of my neighbors, even when I'm just walking to the light rail right around the corner."

Biehl added that he's optimistic about the future of Culdesac when more residents and retailers come in.

"While there are still not a ton of people here yet, there's way more going on than I would've expected there to be," he told BI. "The number of serendipitous interactions that have taken place with the limited number of residents makes me super excited for what people will experience here."

Read the original article on Business Insider