Like many of Spain's recent construction efforts, this unfinished mega-project has turned from a sign of a city's rebirth into an infamous symbol of real estate excess. The 47-story "InTempo" apartment towers in the southeast coastal village of Benidorm near Alicante, will become Europe's tallest residential complex, topping off at 650 feet.
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Construction started in 2007 and was originally targeted for a 2009 opening. Now, the building is now scheduled to receive its first tenants this December. But according to a recent report in El Pais, an error has left the tower with an elevator that can only reach the first 20 floors. The architects have since resigned and refuse to comment on the matter.
The miscalculation is one of many things wrong with the project. Due to financing issues, construction workers were forced to go four months without pay at one point. Until the project reached 23 floors, there was no freight elevator, forcing workers to use the stairs. Once there was one, it collapsed, injuring the 13 workers who were inside it at the time of the incident.
Despite its tainted image and managing to sell only 35 of its 269 units, the developers haven't lowered InTempo's prices. A one-bedroom apartment starts at $475,459, the price increasing every 10 floors.
Once known as a fishing village, Benidorm saw a glut of tall residential projects define the city's skyline during the early 2000s during Spain's building boom. Its collection of new towers enough to earn the city a new nickname, "Beniyork."
With InTempo, the city of 71,000 certainly has itself a new architectural symbol, just not the kind it was looking for.