Quote:
Originally Posted by Sky88
McCourt must hurry up he has to build the tower before an upcoming economic crisis.
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I doubt it will start in time, unless the potential financial crisis holds off until the spring of 2021. I would also doubt that the crisis will be anywhere near as deep as the Great Recession and even if it was worse, the crisis would at most delay this building, if even that. Let's look at how the various projects we knew about from a decade ago weathered the storm:
1-3-4 WTC, One57, Manhattan West, 3 Hudson Boulevard, WPC and 53W53rd were all proposed before or at the height of the great recession and are now mostly complete except 3 Hudson, which is nonetheless an active construction site.
Every single one besides One57 and 4 WTC however suffered design changes including value engineering (1 WTC radome, 3 WTC spires and the original 53W53rd lighting scheme) height cuts (1 Manhattan west, 3 WTC, 3 Hudson, 53W53rd) but not one of the changes was caused by the great recession.
1 Manhattan West was cut to create 3 Manhattan West, 3 WTC had engineering changes to mechanical space, 53W53rd was snipped by the city and 3 Hudson BLVD was snipped by Moinian after they figured the old design wasn't financially viable for the market of 2017.
15 Penn and 2WTC were both proposed before the great recession and both are still active proposals, the only reasons they aren't rising is because there is a lot of product coming onto the market, but they will get their time in the light pretty soon.
The only realistic supertall (those pie in the sky Penn Station Towers from 2007 weren't realistic) we lost to the Great Recession was the World Product Center, but even then the site now houses 55HY which is a pretty cool building in my opinion.
I'd say that we should be far more worried about delays and developers changing their visions than outright cancellations.