An ambitious new timber skyscraper that's set to become the tallest of its kind in the United States – and indeed the world – has hit a snag. The building has been under construction in Milwaukee, Wisconsin, for a few months now. However, despite speedy progress, it has run into some issues and the future of the project seems uncertain.
The project, named Neutral 1005 N Edison St, is slated to rise to a height of 375 ft (114.3 m), which is significantly taller than the world's current tallest timber tower, the 284-ft (86.6-m) Ascent. Its interior will consist of 31 floors and 350 residences, plus retail space, a fitness center, health clinic, and other amenities.
The would-be record breaker is being primarily built using modern mass timber products like cross-laminated timber and glued laminated timber, while there will be some concrete reinforcement in the elevator and stair core. So far its foundations are fully completed.
The issues don't come down to engineering or construction headaches as one might assume, but instead finances. Developer Neutral has put out a statement explaining that current US tariffs, along with broader inflation issues in the construction industry, have increased costs to the point that it's no longer feasible to continue.
Neutral is now working alongside C.D. Smith Construction on a major "cost-cutting and value-engineering" effort in a bid to make things work. The developer does stress that halting the work is only temporary and that it expects to continue at some point in the future, though whether it will still be the world's tallest timber tower after the number crunching is done remains to be seen.
"Pausing to value-engineer is a difficult but prudent step to safeguard the long-term success of 1005 N. Edison," said Nate Helbach, CEO of Neutral. "Our focus remains on delivering a resilient, exceptional building for Milwaukee."
Source: Neutral
