SkyscraperCity banner

1661 - 1669 of 1669 Posts

·
Moderator
Joined
·
9,072 Posts
A more detailed article has been released. Apparently the reason for the delay is because the plans have not been finalized yet.

They have obtained an official extension to delay the project further (without an extension granted, this project would be at risk), and now the official target from Lotte is to begin construction in September 2020 (with completion in December 2023).

https://go.seoul.co.kr/news/newsView.php?id=20191206021001&wlog_tag3=naver
 

·
Moderator
Joined
·
9,072 Posts
The project is still very much alive, without a doubt. Compared to many other projects, in Korea or in the rest of the world, this one has more chance to be built than most, for a few reasons:
  • The developer, Lotte, is a very large group which plans to directly build and operate the building, so they are more invested in this project than if it was proposed by a financial developer who just raises capital and sub-contracts the construction of the project, as such developers tend to more easily give up on any project if it gets too complicated or if the project is not viable for them
  • Lotte actually owns the land, part of which is used for its Lotte Department Store Gwangbok Store, one of the Lotte's flagship retail locations. So the project is part of a greater plan to raise the profile of this area, and use this landmark to benefit its department store overall
  • Preparation work was already partly done, so it would be easier to restart construction
  • The issue about the project is not so much about Lotte failing to come up with the capital to make this plan work, but due to legal issues regarding the use of the floor space, which is being discussed with the city

Of course, that doesn't mean necessarily that the project will resume immediately or that the design will please everyone, but I still believe that this project has good chances of being built, one way or the other. For reference, the Lotte World Tower in Seoul was first envisioned back in the 1980s, and construction of the 555-meter tower only began in earnest in 2010, for a completion in 2017. So, in a way it's not shocking that this project is taking its sweet time too. It's been in planning one way or the other for about 20 years now.

There were actually some very concrete news about the project just a couple of months ago. Lotte officially requested to Busan City, which accepted Lotte's request, an extension to the construction permit, on the grounds on finalizing or changing the design. What is expected is that Lotte would like to change the designs once again to have some space dedicated to a use which is financially more profitable for Lotte. Before, one of the main issues which prevented construction to move forward was Lotte wanting to include residential space (more profitable) in a tower initially designed and approved for commercial/office space. So it seems that the issue today is still quite similar.

 

·
Moderator
Joined
·
9,072 Posts
So is this still the same design as the original one, just Wuhan’d?
The current design is this one:

This new development has been all over the local press today. Here is just one of the many articles about it.

The information shared above is correct. This is the new render, and the height has been decreased to 380 meters.

It will be an observation tower, rather than an actual skyscraper.

The tower project was announced today by Busan City, and its main feature will be the "aerial arboretum", located between 220m and 300m. The cost of the project will be nearly USD 450 million.

The tower will be divided in 3 sections. The lower one will have 12 floors and rise to 71 meters, and include a theme park for kids, retail space, and an innovation support center, as well as an aquarium underground.

The thin mid section will have a rock climbing facility, a playground and a skydeck.

Finally, the upper section, which will start at 220m, will of course feature the arboretum, as well as a book café, a gallery, an observation desk, and a restaurant, and some more.

Now for the question nobody asked: what do I think about this? Well, I think overall it's good news. On one side, the tower we expected is gone, and replaced by a significantly shorter tower, which will probably not qualify for a skyscraper.

On the other hand, this project has been delayed forever, and on hold for almost 10 years (it's been underway since 2000!). There had been significant issues regarding the land use, and it would have been difficult to change the plans of the building to have something which makes sense financially for Lotte, but which can be approved by the city has well.

The great news about this new project is that it is supposed to start construction this October, according to today's announcement, for a completion in 2023. In addition, the final renders are quite interesting. There are many skyscrapers over 400 meters in the world, and the previous tower would have been just "one of many" supertall skyscrapers. With this new tower design, the chance of it being unique and a true landmark are probably actually higher.

I don't really know how it will turn out, but this will certainly be interesting.

10년째 공사 중단된 380m 부산롯데타워… '공중수목원'으로 부활

More renders:





롯데그룹, 초고층 랜드마크 `부산 롯데타워` 짓는다
 
1661 - 1669 of 1669 Posts
Top