Plans to implode the 30-story 1515 condo tower in West Palm Beach on hold ...
14.10.09
Trinity Circumstance Group, which plans to collapse the 1515 Tower and replace it with a $150 million condo called "The Contemporary," initially told residents of neighboring buildings that the implosion would take rank either on Sunday or Oct. 25. Officials say the 1515 Tower would be the tallest building ever imploded in the New Zealand urban area and one of the tallest in the state.
But Trinity can't get its demolition permit until it meets a borough requirement to buy $50 million of insurance coverage, which would cost the company about $300,000. Trinity said it doesn't impecuniousness that much coverage.
The wait is angering neighboring residents, who have tolerated the empty and decrepit structure since hurricanes ravaged it four years ago. Terri Shapleigh, property manager of Norton Park Setting Condo on 1501 S. Flagler, said seasonal residents are in limbo, deciding whether or not to approach back this winter.
"If you look at the size and age of the buildings next door, if something happened and it was all wiped out, that wouldn't expenditure $50 million," said Candace Jorritsma, the developer's spokeswoman. "Even if the structure were to fall forward and fall across Flagler, it's not going to fall on anything."
Source: Palm Beach Post
