In 2005, Fordham Company introduced a project for a new building called the “Chicago Spire” (originally it was proposed as “Fordham Spire”) on 400 N Lake Shore Drive. This 116 floor residential establishment would be the second tallest building (2,000 feet) in the world after Burj Khalifa in Dubai. Although all members of the Chicago Plan Commission approved architect Santiago Calatrava’s design and the public seemed to be in favor of the building as well, several lawsuits and lack of financial resources terminated the project. In 2014, the idea was officially shut down. However, the beginnings of construction had already been put into place, so there has been a 110 feet wide and 76 feet deep hole right off the side of Lake Shore Drive in the South Loop since 2008. As of 2016, Architect Michael Pfeffer is in charge of leading the development of the site, but there no specific plans for the new building has been released yet.