Residents of sinking, leaning Millennium Tower to receive a huge settlement

Millennium Tower in San Francisco is still sinking and leaning.

But there’s finally a bit of good news for residents of the luxury building at 301 Mission Street, which has sunk 18 inches and tilted 14 inches since it was completed in 2008.

A tentative settlement was just reached that will require Millennium Partners and Transbay Joint Powers Authority (TJPA) to pay for the $100m plan to fix the building, according to a report by The Guardian. Residents will also be compensated for their financial losses due to the building’s notoriety.

Though an inspection by the city in 2017 showed that Millennium Tower is safe to occupy, the situation has motivated some people to bail out. Residents previously said they sold their homes short of what they paid for them, with about 100 condos falling $320,000 in value on average in 2017.

Here’s what we know about Millennium Tower.