millennium tower san franciscoVanguard Properties

The Millennium Tower rises 58 stories above San Francisco's Financial District.

But as the saying goes, the higher you rise, the further you fall.

City officials are scrambling to figure out the series of events that led to the development and sinking of the $350 million Millennium Tower. The skyscraper, which houses some 400 multimillion-dollar condos, has sunk 16 inches and tilted two inches since it opened in 2009. All told, it could sink over 30 inches, according to CBS.

While the building is not currently at risk of keeling over, residents are furious that their property values are plummeting, the San Francisco Chronicle reports. The city will hold a hearing starting September 22 to piece together statements from the high-rise's developers and city officials about what caused the sinking.

Here's everything you need to know about the Millennium Tower.

View As: One Page Slides