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As skyscrapers push the boundaries of height, one crucial building component has risen to the challenge: the elevator. Technological advances in the industry are providing faster, smoother rides to building residents—and adding a little glitz to their trip.

Elevators are of top concern to architects, engineers and developers in the early stages of building design. “We consider them almost immediately,” said Ken Lewis, managing partner of the international architecture firm SOM. The elevator and stairs make up the core of…