Unlike a city in China desperate to achieve World Heritage Status which is chopping the tops off skyscrapers, we have been spared this drastic action to preserve our status with the demise of Calotongate. The UNESCO report said to be damning of the proposed project and its handling by the City of Edinburgh Council will be published in a couple of months time.Read this article written in August 2005 perhaps Caltongate developers Mountgrange should have read it before they arrived in the city the same year
From the article -
"And it isn’t just the residential market that will be in trouble. The commercial property sector also has an ominous feel about it. Speculative skyscrapers are going up as much because of their iconic appearance as for the economics of the tenanted sector, and more and more capital is being tied up in real estate rather than put to work in research and development. All over Europe too, money that should be funding the factories and infrastructure that would raise EU productivity is instead seeking out windfall gains in real estate. This will also end in tears and the net result will be the arrival of recession by 2010, something that may well be aggravated in Britain by a new ‘land tax’."
This great photographic website gives a good overall view of when Mountgrange appeared in 2005
