The launching of the unique floating house SeaPod was supposed to be Panama's event of the year. Even Panama's president attended the unveiling of the project. The cost of such a house exceeded $1.5 million. However, on the day of its release as soon as it was in the water, the entire construction went down in front of the amazed crowd.
The company Ocean Builders intended to install the SeaPod at the height of 10 ft above sea level. The home stands due to air-filled steel tubes below the surface, which hold the entire structure and create the effect of its floating in the air.
The unusual home was designed by the Dutch architect Koen Olthuis. Its whopping price of $1.5 million includes everything one can dream of: minimalist design, panoramic windows, jacuzzi, impressive exterior, high-tech equipment, and modular furniture. The two-story building was to be lowered into the ocean.
For Panama, the project was also of great economic importance. The local authorities hoped that its success would have attracted wealthy investors to the country. However, on launching the first SeaPod, the building instantly went down, ending up partially submerged:
It was only later that the SeaPod manufacturer discovered that the house sank because of a faulty bilge pump. It released gallons of seawater into the hold of the house, which tilted the structure.
It is still unclear whether the project will be developed in the future. Panama's president walked away from the presentation enraged.
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