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U2 Tower Delayed Until 2011!


jackie_llopis
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Here's what atu2.com is reporting:

 

No elevation for U2 Tower until 2011

The Sunday Business Post,January 31, 2010

By: Gavin Daly

 

Theplanned U2 Tower in the Dublin docklands has been put on hold foranother year. The Dublin Docklands Development Authority (DDDA) haswritten to the backers of the €200 million project, saying it will notgo ahead until next year at the earliest.

 

It is the latestsetback for the skyscraper project, which had already been put on holdfor a year because of the deterioration of the property market and theeconomy.

 

The tower was to be developed by Geranger, a consortiummade up of U2, Sean Merlyn's Ballymore Properties, property developerPaddy McKillen and architect Norman Foster. The consortium was namedpreferred bidder for the project in October 2007 and the 130metre towerwas originally due to be completed next year.

 

The consortium isunderstood to still be interested in the development, but the DDDA hasdelayed following board discussions late last year. It says it willstill consider whether to go ahead with the project if conditionsimprove.

 

The DDDA has been at the centre of controversy over anumber of developments. It is facing large losses from its involvementin the buy-out of the former Irish Glass Bottle Site in Ringsend for€412 million. That site is now valued at €65 million.

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Wasn't Bono in the papers when this tower was proposed saying how he doesn't like heights?
Can't remember it, but I was living in Dublin at that time and I remember it was a Council's idea, they wanted the soil where the studio is, they have a really good view of the Grand Canal and that was a part of the revamping of the former industrial area into a residence neighbourhood, U2 said yes, but they wanted a studio in the same area and the Council came up with the idea of the U2 tower. The area is now a good neighbourhood, nothing to do with the lonesome and dangerous place it used to be.
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To be honest , iv'e walked into really posh style homes and buildings but especially homes really nice ones and I feel like dirt when I enter one , dont like how I feel even though I may like what I see ..... Really hate that feeling.....But its really downgrading..

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