$100,000,000.00 Skyscraper Fail!

youtubes ~ High-rise condominium was to be opened in 2008. The building began to have settling problems. It sunk as much as 14 inches. The only option was to destroy the building.
Ravenisays...

From the prospectus: "At Ocean Tower SPI you can always rely on the fact that you will be living in a building that is an architectural gem of the highest quality with the latest technology."

A lawsuit was filed in June 2008 against the engineering firm and design consultants, Datum Engineering, Inc. and Raba-Kistner Consultants, Inc.; construction company Zachry Construction was dismissed as a defendant in the lawsuit.

spawnflaggersays...

I hope the $100M pricetag was to be what it would have cost had it actually been completed. The empty shell I see in this vid shouldn't have cost nearly that much. Unless all the concrete was shipped in via airplane.

ReverendTedsays...

>> ^spawnflagger:

I hope the $100M pricetag was to be what it would have cost had it actually been completed. The empty shell I see in this vid shouldn't have cost nearly that much. Unless all the concrete was shipped in via airplane.
According to one source, this was backed by a $75M bank loan, of which $65M "evaporated" with the destruction of the tower. There was a $125M lawsuit pending.

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