Today, TMT development, Tom Moyer’s company that brought us the Fox Tower, announced they will stop construction on their second tower downtown for 9 months at the cost of 350 jobs. You may know this space – a huge hole in the ground just west of Nordstroms between the MAX tracks. Get used to a huge crane and a half-built parking garage because it is going to be that way for awhile. They state they will start back up again in 2010….we’ll see.
I understand the whys behind the decision. In today’s economy, everyone is cutting back on expenses and if a company has office space, they may choose to stay put and re-negotiate the lease instead of move to the tonier part of town. While TMT states the space is 55% leased, there is still the issue of credit for ongoing construction.
I lived in post-Soviet Armenia in the early 90’s as part of the Peace Corps. While in the capital city, I was always amazed at the many uncompleted structures that dotted the city. The material and the equipment was there, but the sites were shuttered and had been for awhile. This was throughout the downtown area. That is what happens when an economy goes haywire and gets turned upside down.
Is that what we’re in for? Will we begin to see other half finished construction projects just stop for lack of funds? The city dotted with cyclone fencing around holes in the ground or abandoned structures awaiting demolition that will never happen? I hope not, but I don’t think that is my call.
What if they stopped MAX construction mid-stream due to funding cuts? Lots of potholes…
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Strangely echoing last night’s Parks & Rec episode in which they try to convert an abandoned construction project/hole-in-the-ground into a city park. Good thing I had my hard-hat!
In many cities around the country this has already occurred, Portland being one of the odd exceptions. Matter of fact I can’t remember being to a city and not seeing some huge building incomplete. It seems that ever recession or depression leaves us with a few of these as part of the landscape.
Even New York City has a few here and there, and especially the rust belt cities. I hope they do start back up in 9 months (or find some reason to not stop), because that would be a horrific hole to just leave as it is.
Chicago ran into a similar problem last year with its Chicago Spire hole. Blair Kamin, the Chicago Trib’s architecture critic suggested the city fill it with water to create the world’s deepest swimming pool. “Perhaps demonic sports federation directors would threaten to send losers in Olympic swimming races there, forcing them to backstroke in circles for the rest of their lives.” http://bit.ly/JJsnu
There’s got to be something we could do with our pit if the tower doesn’t get built. Do we need an extra hole for the Big Pipe project? Ooh, ooh, I know! Throw in some seats and we’ve got our new MLS stadium!
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