Plans for U2 tower halted

U2's plans to build a nearly 400-foot skyscraper in the heart of Dublin's docklands area have been suspended due to the ongoing global financial crisis. According to NME.com, the Dublin Docklands Development Authority (DDDA) said on Friday (October 31st) that it had "suspended negotiations" over the tower for up to 12 months "due to uncertainty in the property and financial markets." The members of U2 were principal investors in the tower, which was slated to house the band's brand new recording studio in a giant futuristic pod suspended at the top.

The tower, which would have been Ireland's tallest building, would have also housed a hotel, residences, shops and a public viewing platform.

The DDDA said in a statement, "The objective is to see this landmark project completed. However, given the current unfavorable economic environment, more time is needed at this juncture."

The planned project has also drawn protests in the area for its potential effect on the local area and Dublin skyline.