The to-be skyscraper named the Bishopgate Tower left the rest of the first world declaring “Go home, London, you are drunk”. And London did just that. The extravagant designs of the tower required more funds than were revealed to be available to the city in 2008. “Oh, wait, it’s going to be crayface expensive to uniquely cast every single window of a massive spiraling vortex of glory? My b, you guys” said London. That may or may not be a direct quote but the point is that the city had no choice but to eventually completely abandon construction, leaving the not even half finished project to stand in the financial center as a gigantic reminder that the economy just sucks right now.
Photo via Gizmodo
Lucky for London, a purchase has been made, a new design approved, and construction of the tower just might finally begin again and this time finish the job. So who saved the day (and by day I mean around five years or so)? A Middle Eastern backed investment company called Arab Investments purchased the tower last year for somewhere around 325 million dollars (you know, just casually) through their offshore investment vehicle Pinnacle. Pinnacle is backed primarily by private equity investors aka basically just ridiculously rich people. Said rich people had designated a year’s time from their 2012 purchase that the new architect- KPF- would be ready with a new and less outrageous design to either finish or completely restart the tower. It seems that time has come. The new project has received the final planning consent from London and that means the city is ready when you are, Pinnacle.
Photo via Gizmodo
People are wondering if the tower will look anything like it was originally planned to, whether the new owners have found a way to afford the costs or have a visually similar design that’s a bit more economical, or if they’re going to start from the beginning with a new simpler and more basic tower. Either way, the skyscraper is supposedly set to amount to 60 stories and a total of 950,000 sq ft, making it the tallest building in London. Hopefully, soon enough, the city’s skyline will be restored.