Friday, March 2, 2012

The most expensive building in the world

Freedom Tower
One World Trade Center, expected to open in Spring 2013, will cost an estimated $3.8 billion, making it the most expensive building in the world.  By contrast, the Burj Khalifa in Dubai cost only $1.5 billion.  1WTC will have a really, really tall pole attached to it, which will make it the 3rd tallest building in the world, at a symbolic 1776 feet.  However, the highest usable floor space will not be as high as Willis/Sears Tower in Chicago.

It will immediately be a white elephant.  "It turns out that there are plenty of people, including former New York State officials and New York City developers, who believe that 1 World Trade Center is folly. “An emotionally induced misuse of money,” said one such person. “You can only understand this as a political statement,” said another. “It makes no sense as a commercial real estate endeavor.”

Ok then, if it makes us feel better about ourselves, it is worth it right?

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