Slated for groundbreaking this year, Dan Gilbert's proposed 800-foot, $909-million tower for the site of the former J. L. Hudson Department Store will be the tallest building in Detroit since the Renaissance Center.
However, according to a "skyscraper curse," its construction could be a sign that the next recession is just around then corner.
The theory, put forth in 1999 by British economist Andrew Lawrence, states that the construction of tallest buildings is "a signal of an overheating economy that is nearing its peak, with a downturn fast approaching,"according to a Detroit Free Press story published this weekend.
The Free Press reports:
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