Could 'Earthscraper' really turn architecture on its head?

If built, the 65-story "Earthscraper" would plunge 300 meters into the ground beneath Mexico City.

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The 'Earthscraper'

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STORY HIGHLIGHTS

• Mexican architects believe they have solution to capital's overcrowding
• If built 'Earthscraper' concept would plunge 300 meters into the earth
• Designed as an inverted pyramid with a central void for light and ventilation
• Pipe-dream or genuine innovation? You tell us.

(CNN) -- A team of Mexican architects have designed a 65-story glass and steel pyramid to sit in the middle of Mexico City's most historic plaza. But, if it ever gets built, you won't see it anywhere on the skyline.

That's because it would be the world's first ever "earthscraper" -- a 300-meter deep office and living space with ambitions to turn the modern high-rise, quite literally, on its head.

"There is very little room for any more buildings in Mexico City, and the law says we cannot go above eight stories, so the only way is down" explains Esteban Suarez, co-founder of BNKR Arquitectura, the firm behind the proposals.

"This would be a practical way of conserving the built environment while creating much-needed new space for commerce and living," he added.

But would it really be that practical? The design, which would cost an estimated $800 million to build, is the shape of an inverted pyramid with a central void to allow for some much-needed natural light and ventilation.

Suarez says the first 10 stories would hold a museum dedicated to the city's history and its artifacts. "We'd almost certainly find plenty of interesting relics during the dig -- dating right back to the Aztecs who built their own pyramids here," he says.

The following 10 floors are assigned to retail and housing, with the remaining 35 intended for commercial office space, says Suarez.

Suarez concedes that getting natural light and fresh air down to the lower floors will be a problem and he is investigating a "system of fiber optics" that could deliver sunlight from the surface.