Second Proposal
After numerous designs the finalized height for the second proposal had been approved at 196 metres (643 feet) or 62 floors and 58,993 m² (635,000 sq. ft.) in density. Construction was expected to start in spring 2007, with an opening in early 2009. Levels 2 through to 11 would have been office space, Level 12 would have been an amenity floor for residences, Levels 13-42 would have been 'house like apartments', Levels 43-60 would have been a long stay boutique hotel, and Levels 61-62 would have been the sapphire penthouse suites in the crystalline part of the tower.
On July 20, 2007, Sapphire Tower Development Corp., the parent company fully owned by Harry Stinson, was approved for bankruptcy protection. All future plans of development for the Sapphire Tower were stopped. Sapphire Tower Development Corp. is currently listing the development (including land) for sale to respective buyers in order to repay creditors.
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