Construction
Following the city approval, it was announced that construction of the Chicago Spire was to begin in summer 2007, with caisson work scheduled to begin as early as June 2007. DuSable Park was designated as a staging area for the construction of the tower. The sales center for the Chicago Spire opened on January 14, 2008.
On September 19, 2008, a spokeswoman for the developer announced that construction was continuing on the building, but that the pace of construction would be slowed until the financial markets recovered from the subprime mortgage crisis. Kelleher promised that he still had financial backing, although analysts questioned the ability of the project to survive the current economic decline. A contractor to build the building's superstructure had not yet been named. The October 1, 2008 edition of The Wall Street Journal said that the building foundation was complete and the above ground construction would not continue until the markets recover.
Read more about this topic: Chicago Spire
Famous quotes containing the word construction:
“There is, I think, no point in the philosophy of progressive education which is sounder than its emphasis upon the importance of the participation of the learner in the formation of the purposes which direct his activities in the learning process, just as there is no defect in traditional education greater than its failure to secure the active cooperation of the pupil in construction of the purposes involved in his studying.”
—John Dewey (1859–1952)
“No real “vital” character in fiction is altogether a conscious construction of the author. On the contrary, it may be a sort of parasitic growth upon the author’s personality, developing by internal necessity as much as by external addition.”
—T.S. (Thomas Stearns)
“No construction stiff working overtime takes more stress and straining than we did just to stay high.”
—Gus Van Sant, U.S. screenwriter and director, and Dan Yost. Bob Hughes (Matt Dillon)