Irish-backed €2bn spire to tower over Chicago

DESPITE the US economy’s downward spiral, it is onwards and upwards for the Irish-backed tallest residential tower in the world, to be built in a twisted shape in Chicago.

The 150-storey building, designed by the Spanish “starchitect” Santiago Calatrava, will reach 2,000ft in height by 2011. That’s the equivalent of 10 Liberty Halls in Dublin, or nine Cork’s County Halls.

Valued at more than $2 billion (€1.4bn), Chicago’s Spire is so big it leaves all else in the shade. The Spanish architect made bridges look sexy, with his engineering prowess, and his Chicago design, which moves on from a twisting tower he completed in Malmo, Sweden, is already being hailed by his architectural peers as “iconic”. That translates into expensive too, so only those who don’t have to ask the price can afford them. Already, a Savills selling website has 4,000 registered expressions of worldwide interest, including some high-earning Irish names, but whether many translate into booking deposits will rest on investor sentiment early next year. Many will look to “twist” on their Spire investments for a quick-ish buck.