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One of San Francisco's Toniest High Rises Has a Sinking Feeling
"The Millennium Tower, a leading symbol of San Francisco’s new high-rise and high-end living, is sinking — setting the stage for what could be one of the most contentious and costly real estate legal battles the city has ever seen," according to an article by Matier & Ross for the San Francisco Chronicle.
Specifically, "since its completion in 2008, the 58-story building has sunk 16 inches" and "two inches to the northwest." The building is located across the street from the Transbay Transit Center and the site of the new Salesforce Tower. Condominiums in the building go from $2 million to $10 million.
According to the article, the Millennium Tower's homeowners association is gearing up for a likely legal battle, hiring engineering consultants and considering legal options. The homeowners association, "cited any number of parties that could be held 'legally accountable' — including the developer, the high-rise’s designers, the contractors and the Transbay Joint Powers Authority, which is run by San Francisco, AC Transit, Caltrans and the agency that operates Caltrain," according to Matier & Ross.