Nothing Learned

Posted: July 18, 2019 in Culture, Economics, Idle Nonsense, Industrial Collapse, Skyscrapers, Technophilia
Tags: ,

The supertall skyscraper biz has had its, um, ups and downs. My position over the 15 years of this blog is that they’re paeans to techno-utopianism and -narcissism and probably ought to stop being designed and built in an era of rapidly diminishing returns for economies around the globe. The initial price tag on these giants runs into the billions, and I have severe doubts they can be maintained even on the short term should when the next financial collapse impoverishes everyone. Just won’t be enough juice to keep nonessential luxury projects operating. That was very nearly our experience with the last collapse in 2008 — a (temporary or permanent?) setback from which many have not yet recovered despite new U.S. stock market records being set nearly every day (in mid-July 2019).

Eleven years ago, a number of skyscraper projects around Chicago were either scrapped entirely due to disappearance of financing or truncated well below their planned heights after lengthy construction hiatuses to allow time to regroup, redesign, and refinance. I had thought developers might be chastened enough by that experience to limit the grandiosity of future plans. Well, seems memories are short and nothing was learned. According to Curbed Chicago, the Loop has multiple projects in the conceptual through construction phases:

  1. Vista Tower — under construction at 1,198 feet
  2. NEMA Chicago — under construction at 896 feet
  3. Bank of America Tower — under construction at 820 feet
  4. One Chicago Square — site being prepped at 969 feet
  5. 1000M — approved at 832 feet
  6. Lakeshore East “Parcel I” — approved at 950 feet
  7. Salesforce Tower — approved at 813 feet
  8. BMO Tower — approved at 700 feet
  9. 725 W. Randolph — approved at 615 feet
  10. Tribune Tower East — proposed at 1,422 feet
  11. 400 N. Lake Shore Drive — on hold pending redesign
  12. The 78 — master plan approved, design subject to change
  13. One Central — conceptual

Number 11 is of particular interest to me as it’s the site of the ill-fated (doomed might be a better word) Chicago Spire (a/k/a Fordham Spire), a planned 2,000-foot building that would have been the world’s second tallest after the Burj Khalifa (a/k/a Burj Dubai) — at least until they were both eclipsed by the Jeddah Tower (a/k/a the Kingdom Tower) if stalled construction is ever restarted and completed. The most audacious and unnecessary proposal above is One Central, a preposterous 34-acre site situated atop existing Metra tracks serving commuters traveling into the Loop from the south and southeast.

All these projects appear to be mixed-use luxury developments: a combination of commercial, hotel, and condominium space. Affordable housing is a far more pressing need in Chicago, but those modest projects don’t produce the (presumed) profit or enhance the skyline. Where all the exceedingly well-heeled buyers will materialize from is a mystery. Indeed, claims that Chicago is fast becoming the new North American technology center for young, urban professionals after Seattle, Silicon Valley, and Austin (TX) are played out are hard to justify.

The skyscraper craze is a peculiar sort of madness from which we show no signs of recovering. A few similar madnesses have overtaken us. For instance, on the heels of the 50th anniversary of the moon landing, NASA has a renewed project for a manned moon shot. How far will we launch skyward in either aspect (skyscrapers or space travel) before our hubris gets the better of us?

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