The only reason the site of the old Public Safety Building is empty after all these years is that the city tried to be a real estate developer, which of course didn't work. They they tried to put a bunch of "affordability" provisions on it, which of course didn't work. I don't know if the mayor's who gaze upon it from their office on top of City Hall like having an unimpeded view, or if they regard the site as a failure. Probably the former.

As for those twin towers, they better do something, or the building department is going to step in. The last thing they want is another McGuire Building on their hands.

I’m shocked there aren’t more of these. Putting up a building requires enormous risk and faith that supplies, labor, financing, weather, governance and many other factors Im sure will collaborate and result in a functional, finished building. I spent some time in assorted types of Mexican pueblos and cities this year, and abandoned, half finished buildings was a very common thing.

overbuilding during a bull market and then stiffing the contractors.

It should probably be noted that work resumed on 1200 Stewart about a month ago and they quickly finished the windows on the west tower (excluding the very top penthouse/amenity floors) and have since been installing the windows on the east tower as well as balconies on the west tower.

"I do want to make this observation about capitalism"

Charles, have you ever posted anything to the SLOG that wasn't about capitalism? I mean, 95% of your posts use the term "Kenyesian" at least twice.

There's a certain hilarity in using North Korea as your closing example for the usual capitalism diatribe. Before I moved to Seattle I heard was brilliant, and his writing technique certainly is...but as far as I see his content is phoned in. Vapid word salad, evil capitalism, obscure socialist writer quote.

Also, what will happen is the developer will go broke and another one will buy it and finish it. Take a couple years at most. Unless they tag on new equity regs that cause it to not pencil out.

@5,

If you're so put off by Charles' writing, why on earth do you continue to read it?

These buildings will be finished. by the original developer or someone else. As much as you'd like them to rot empty as some kind of demonstration of how capitalism has failed, it ain't happening.

And it's more than a little ironic that you bring up the unfinished building in Pyongyang, as that pretty well demonstrates the ACTUAL failure of Communism.

@7: hbb didn’t say he was put off by Charles’ writing; he wondered why Charles was noting as unusual behavior which has actually been bog-standard operating procedure for years.

@5: To answer your question, back in the day, Charles used to post reams of his personal nastyporn about Amanda Knox, with no hint of economic content. (Any non-sexual content in such posts consisted of Charles shouting “racism” at anyone who dared notice an African man had actually committed the crime for which Knox had been punished.)