The Leaning Tower of San Francisco

0
77

The Leaning Tower of San Francisco

The leaning tower of San Francisco, a luxury skyscraper named the Millennium Tower, was featured yesterday on the weekly news show “60 Minutes.” The building is sinking as well as tilting – about six inches to one side. Some residents and the city are suing the developer.

What did the Developers and Building Inspectors Know?

Documents obtained by the city show that as early as 2009, developers and city building inspectors knew the tower was settling faster than expected; however, the residents were not informed of the issues until May 2016. By this date the building had sunk more than a foot while it leaned six inches to the northwest.

The 58-story Millennium Tower is one of the new skyscrapers concentrated in a neighborhood of squishy land reclaimed from the San Francisco bay. Not only is the structure changing it is also sinking unevenly.

Some condo owners at the Millennium Tower say their multimillion-dollar condos are “nearly worthless,” as the value, with all of the negative publicity, has caused the prices to drop considerably.

There are presently at least 20 lawsuits related to the complex. The Millennium Tower is the fourth-tallest skyscraper in San Francisco. It soars 645 feet allowing residents some of the most panoramic views of the Bay Area. The complex offers many amenities to the owners including a pool, fitness center, wine cellar and tasting room, movie theater and concierge service. When Millennium Tower first opened more than $100 million worth of condos sold in the first five weeks. The sales tag ranged from $1.6 million to $10 million.

City officials say the complex is safe to occupy – most of the residents do not agree. It’s just a matter of time, most likely, before the number of lawsuits grow.




LEAVE A REPLY

Please enter your comment!
Please enter your name here