![]() ![]() In the meantime, lawsuits are still pilling up and homeowners continue to press the city to reassess their six and seven-figure condos, even though Assessor-Recorder Carmen Chu has previously adjusted the values of only a few homes slightly downward.ĭespite all of the bad press, several Millennium Tower homeowners have managed to sell their condos at a profit since the bad news broke last August.Ī four bed, four bath home in the tower’s podium building still hopes to net $5.9 million on the open market now.īut this doesn’t necessarily reflect on whether the structural defects should hurt the assessed home values. Newly released monitoring data shows that San Francisco’s Millennium Tower tilted a quarter inch during the four days it took to install the first test pile. The engineering firms estimate the fix will cost $100 million to $150 million - more than your average home foundation repair, but a lot less than the billion-dollar-plus price tag that some experts have feared. The building, known for years for a pronounced tilt, moved another quarter inch. Each pile would be anywhere from 10 inches to a foot in diameter. Dec 9, 2021, 2:21 PM By TRD Staff SHARE THIS ARTICLE San Francisco’s Millennium Tower is on the move again. The firms say the problem can be remedied by drilling 50 to 100 new piles down to bedrock from the building’s basement. In comments to NBC Peskin compared his hearings (which he vowed to continue) as “yelling into the wind.”Īt the same time, the San Francisco Chronicle reports that two engineering firms hired by developer Millennium Partners have a potential solution: Senator and former Mayor of San Francisco Dianne Feinstein that the city could manage the building’s woes. “Accelerated sinking continues,” tweeted Peskin, then sarcastically referenced Mayor Ed Lee’s efforts last year to reassure U.S. Supervisor Aaron Peskin, who has conducted a series of City Hall inquisitions trying to figure out who dropped the ball on the building’s design, took to Twitter to voice his exasperation. The data also show the building has sunk close to 17 inches at its low point, settling about an inch since the problem emerged last year. It is now listing at least 14 inches toward the massive Salesforce building going up nearby on Mission Street. The data, compiled by the ARUP engineering firm brought in by officials of the nextdoor Transbay transit terminal project, suggest the structure is tilting twice as fast as it had been in earlier ARUP data. Millennium Tower, the tony but troubled downtown high-rise that made international headlines last year when the secret got out that it’s slowly sinking and tilting, returned to its customary place in the news late Tuesday when NBC Bay Area revealed that the building “has tilted two and half more inches in just the first half of this year, according to new monitoring data.” ![]()
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