A planned and approved building in Portland would have pushed Cross Laminated Timber to new heights, but fell short of the needed financing to get done.
Plans for the tallest timber building in North America "have been shelved," reports Sydney Franklin from Portland.
The building, called Framework, would have reached 12 stories. The building received a permit and $6 million from the city to include 60 units of affordable housing.
"The developer, project^, said that inflation, escalating construction costs, and fluctuations in the tax credit market are to blame for the sudden hold," according to Franklin. "Despite massive investment, the project still had not met it’s $29 million fundraising goal as of Monday."
The current tallest timber building, which uses Cross Laminated Timber, is also located in Portland.
Read the full story: Construction on Framework, the tallest timber tower in the U.S., has stalled
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