Reader comment on: Photos of the Day
Submitted by John Gillis (United States), Apr 16, 2011 18:38
One aspect of the story that wasn't made explicit in the story is the insane financial mathematics of this "renovation".
476 million dollars divided by the 490,000 sf of space, results in a $971 per square foot cost for these renovations. In today's dollars, if I spent, as an architect, more than $500. per square foot on a NEW high end office building for one of the richest corporations in America, I would be overspending. And renovations usually only cost a portion of what it takes to build new buildings.
This is a remarkable misuse of funds by the government.
Given the terribly mistaken goal of simply spending money, which is the fiscal philosophy of Keynesians, throwing this money into such crazy projects is internally consistent -- even though actually destructive to the body politic.
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