Tag: Chicago

Skyscraper Building Boom

When we visited Toronto Canada for the first time in 2009 we were astonished by the number of high rise buildings under construction throughout the city.  Walking on Yonge Street there were signs announcing plans for more sky scrapers to be built within the coming year or two.  When we visited Toronto again in 2017 the construction of new sky scrapers had not diminished.

Yonge Street Toronto

There is a high rise (skyscraper) construction boom under way in many major cities all over North America.

The Comcast Development Center in Philadelphia is adding a 1,121-foot-tall building to that city’s skyline.

Chicago is adding the Vista Tower. It is an 1,186-foot tall luxury hotel and condo tower. There is actually 50 high rises of 100 feet or more under construction in Chicago.

After 1992, when the California Plaza was built there were no new skyscrapers in Los Angeles until 2003. That new high-rise was just a 35 story building. Then starting in 2009 there has been a resurgence in high-rise construction throughout Los Angeles. The Wilshire Grand was just completed last year as the tallest building west of the Mississippi. It is about to be eclipsed by another high-rise at 1107 feet.

77-story planned Bunker Hill tower drawn into a photo of the area

The first phase of a massive redevelopment of the old Boston Garden site will ultimately add 1.87 million square feet of shops, restaurants, offices, hotel rooms, and residences and is set to finish sometime this year. Eventually, the joint project between developers Boston Properties and Delaware North will include a 38-story residential tower, 21-story office tower, as well as new transit connections and outdoor space.

There 14 high-rises under construction in San Francisco right now. The Salesforce Tower will be that city’s new tallest building beating the famous TransAmerica Tower.

Meanwhile Toronto Canada is trying its very best to be second to New York City with traffic, subways and over 60 high rises over 500 feet. Most of them are jammed into their downtown area. The tallest is 978 feet. A 1,043 foot tall 85 floor building is under construction now an even taller 98 story building is awaiting approval of their city council.

 

Artist conception – Tallest building tower “Yonge Street Living” is proposed for downtown Toronto

Most of these projects are a combination of offices, hotels, stores, and residences.  Living closer to the center of the city means less commuting.  That translates to less traffic on our congested roads and easier access to museums, entertainment centers, and hospitals.  Add to that is we like living in busy cosmopolitan cities.  The proof is the tourism to NYC, Las Vegas, and downtown San Francisco.

Spend Today – Let Tomorrow be Someone Else’s Problem

I am exhausted by government mismanagement.  It’s not about Obamacare.  It’s about foolish spending at the state and local levels.

Here in California the EDD (Employment Development Department),  that is the department that pays unemployment insurance, they decided to implement a new computerized check paying system.  California paid Deloitte Consulting $62 million to develop EDD’s new computer system.  An estimated 148,000 people have experienced delays of up to four weeks in receiving their payments due to computer glitches.

The Los Angeles DWP implemented a new billing system in October of this year.  Thousands of people received bills that were double their normal charges.  Some received bills one half their normal charges.  When those receiving incorrect overcharges refused to pay they were threatened with shutoff notices.

A retired DWP construction worker volunteered his retirement benefit to me, $6,000 per month.  Stunned, I said nothing.  The DWP has a powerful union.

Meanwhile Chicago officials, as they often do, turned to borrowing to relieve the financial pressure. This time they used taxable bonds with high interest rates, making the ultimate price tag even bigger.  A $12 million bill related to disabled parking will be paid off in 2039 for at least $30 million.  The Chicago Tribune found that the mayor’s boasting of tough choices amounts to selling taxable bonds to cover day-to-day expenses.  Long after he is gone the bill for retirement benefits will come due.  With a declining population (in the 1950s it was 3.5 million people, today the population is 2.5 million) this city may be the next Detroit.