It sounded like a sure thing when the global economy was riding high on housing crack. But like leading economic indicators, reality has descended upon the U2 Tower, bringing plans for the tallest building in Ireland back to Earth.
Which is where they will stay until further notice. According to the Associated Press, the Dublin Docklands Development Authority has shelved the project indefinitely.
"The objective is to see this landmark project completed," the DDDA explained in a statement on Friday. "However,
given the current unfavorable economic environment, more time is neededat this juncture," adding that the agency is "confident that these economic uncertainties are short-
to medium-term."
That may be wishful thinking, but then again so was building a $250 million skyscraper in Dublin's purposefully low-rise cityscape. Or counting on the citizenry's ability to drop a million euros apiece for 180 apartments, or footing the bill for an egg-shaped pod studio for U2 at the tower's peak. The project has already languished in development for six years and gone through three rounds of architectural competition. A brutal slowdown in Dublin's economy may doom it to the dustbin of rock history.
Photo: Jnestorious/Wikipedia
