Delays to Foster + Partners' U2 Tower as negotiations extended
An agreement between Geranger – a consortium made up of U2, Ballymore, property developer Paddy McKillen and Foster + Partners – and the Dublin Docklands Development Authority (DDDA) was expected to be announced at the end of last month (July), but the deadline has now been pushed back.
A DDDA spokeswoman said: ‘Given current market conditions, the DDDA and Geranger have agreed to extend the negotiation period to allow for further analysis and for design issues relating to the Dodder Bridge.’
Geranger had originally claimed that the 130m-tall tower would be completed by 2011, but this is looking increasingly unlikely due to the current financial climate.
The €200 million (£157 million) scheme unveiled in October last year is to include a pod-shaped recording studio for the band at the top of the tower.