City Council Facilitates the Groundbreaking of One Broadway Plaza

On Monday, July 19th the City Council facilitated the groundbreaking of the long-stalled skyscraper dubbed One Broadway Plaza by developer Mike Harrah and his company Caribou Industries. Amendments were made to the agreement between the City and the developer, including the removal of a clause that required the tower to be fifty percent leased before groundbreaking. Harrah says that he can break ground by the end of this year. It will not be the first time that he has given a timeframe for groundbreaking. The tower, if it is built, will be four years behind schedule upon completion, which will be no sooner than the fourth business quarter of 2012. It was originally scheduled to be completed by Q4 of 2008.

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