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The current, temporary trade center station serves... only 10,000 more than use the unassuming 33rd Street PATH terminal in Midtown Manhattan.
In fact, the hub, or at least its winged “Oculus” pavilion, could turn out to be more of a high-priced mall than a transportation nexus, attracting more shoppers than commuters. The company operating the mall, Westfield Corporation, promises in a promotional video that it will be “the most alluring retail landmark in the world.”
— nytimes.com
Damningly described as ‘hell on wheels’, ‘malice in blunderland’, and ‘a field of dreams’; welcome to a run-down of some of the world’s most eye-wateringly over-budget projects. — Podio.com
After adjusting costs for inflation and converting into US Dollars, Podio put together a simple, nifty visualization of the world's most over-budget monuments. Unsurprisingly, Olympic and large infrastructure projects rank high, with projects like Healthcare.gov and the International Space... View full entry
Many in the art world were staggered by recent reports that the Italian curator Germano Celant is being paid €750,000 to organise a pavilion for the Milan Expo 2015. Celant’s fee, and the incredulity it provoked, raises questions about how much curators are typically paid for organising biennials and large-scale international exhibitions.
The Art Newspaper surveyed around 40 international curators and biennial organisers [...].
— theartnewspaper.com
Moscow wants to make Russia the "center of the sporting world," but the price tag will be steep. Four years before the 2018 World Cup, costs are exploding in the next host country, with the two most important stadiums each costing more than a billion euros. — spiegel.de
NATO is building a new headquarters for one billion euros. But the construction consortium is in financial difficulties and the project is at risk of being halted. — spiegel.de
Watch a 2008 video interview below with lead architect Jo Palma of Skidmore, Owings and Merrill discussing the ideas behind the design of the building. More European key projects in dire financial troubles: ECB Headquarters: Skyrocketing Costs for Skyscraper Project Starchitect Trio: The Men... View full entry
Art Critique Of Gramsci Monument: A Work in Public Space by Thomas Hirschhorn at Forest Houses, the Bronx, New York. — newcriterion.com
Thomas Hirschhorn’s Gramsci Monument, a temporary public art work sponsored by the Dia Foundation now on view at Forest Houses in the Bronx, reportedly cost $500,000 to construct.1 If you try accounting for its material costs in plywood, nails, tarps, and packing tape, and still come up... View full entry
Premier Dennis Napthine announced HASSEL + Herzog & de Meuron as the winners of the state government's competition for the redesign of the iconic station, but the plan for the redevelopment itself has been met with a degree of skepticism from some. On top of the $1.6m spent on the competition, Napthine estimates that the realisation of the plans would cost $1 to $1.5b and would take over a decade to be built. The state government has not yet committed to its completion. — au.artshub.com
Previously: HASSELL + Herzog & de Meuron Win Flinders Street Station Competition Big Names on Flinders Street Station Shortlist - Public Voting Now View full entry
At $3.74 billion, plus another $200 million in contingencies, the “Transportation Hub” at the World Trade Center—not even the busiest station in the Financial District—will be far and away the most expensive train station built in modern history.
The Hub, as it’s known in Port Authority speak, will be the crowning artistic statement of the World Trade Center complex, perhaps the last grand gesture at a site that was supposed to be full of them.
— observer.com
The Hirshhorn Museum’s proposed Seasonal Inflatable Structure, also known as “the Bubble,” a project announced in 2009 and intended as an architecturally and culturally transformative space on the Mall, would operate at a loss in each of three scenarios examined in an assessment done by the Smithsonian. — washingtonpost.com
“We’ve said from the beginning, and the secretary [G. Wayne Clough] has said it, this is a bold project,” said Richard Kurin, the Smithsonian’s undersecretary for history, art and culture. “We’ve encouraged this, but it has to be raised by private money. In terms of doing that... View full entry
In order to trim 300,000 square feet of construction costs from its budget, Apple has pushed the entire Tantau Development to Phase 2, which means it will be completed after the main campus is built.
Apple's revised campus plan includes the addition of an expanded section detailing bicycle access improvements, which comes with an included visualization of what bike pathways and sidewalks might look like on the campus.
— macrumors.com
Download all the revised plans from Cupertino.org View full entry
Since 2011, the budget for Apple’s Campus 2 has ballooned from less than $3 billion to nearly $5 billion, according to five people close to the project who were not authorized to speak on the record. If their consensus estimate is accurate, Apple’s expansion would eclipse the $3.9 billion being spent on the new World Trade Center complex in New York, and the new office space would run more than $1,500 per square foot—three times the cost of many top-of-the-line downtown corporate towers. — businessweek.com
Affordability, along with a minimalist aesthetic, were the reasons she decided on a prefab house — points on which Mr. Buryk, who had years before remodeled a 100-year-old house in Portland, Ore., wholeheartedly agreed. “I, similar to Zoe, was coming from a place of not wanting to do that again,” he said.
But it wasn’t quite as affordable as they had hoped. The house cost $260,000 to build, from start to finish (the kit itself was $47,000) — nearly $100,000 more than they’d expected.
— nytimes.com
The city was initially prepared to contribute €77 million to the project – but this figure has since gone up by nearly five times to more than €323 million – more than half the expected €600 million total cost. And the original completion date of 2010 has been pushed back to 2014.
The building’s designers had underestimated certain costs – such as an acoustic panelling for the main concert hall which cost five times as much as expected, adding more than €10 million to the bill.
— thelocal.de
The planned 2012 opening of the Sept. 11 museum at the World Trade Center is in jeopardy amid a dispute over hundreds of millions of dollars in unexpected costs related to redeveloping the site, people familiar with the matter said. — online.wsj.com
