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President Donald Trump boasted earlier this year that the US would spend only $200,000 to $300,000 on a new US Embassy in Jerusalem, but it seems the project will cost nearly $20 million more than that estimate. [...]
The US spent just under $400,000 on modifications to the consular facility that allowed it to open as the US Embassy in May, but the State Department told CNN at the time that it planned "for construction of a new extension [...] as well as for additional security enhancements"
— CNN
Back in March, the 'Builder in Chief' promised that the highly controversial new United States Embassy in Jerusalem would have to be built "very quickly and very inexpensively" at a bargain price tag of around $250,000. According to documents made public this month, the State Department however... View full entry
Work has ground to a halt at the New York Wheel, a massive attraction that developers say will help turn the St. George Ferry Terminal into a bustling tourist destination. The latest projections put the wheel’s price tag at $590 million, more than twice initial estimates. The developers concede there have been setbacks, but they say they are still on firm financial footing and expect the project to succeed. — Crain's New York Business
Building an audience from scratch for a new, expensive attraction on Staten Island's North Shore where visitors are also willing to spend $35 per ride to recover the half-billion-plus-dollar investment will be a steep challenge, Crain's reports: "To break even, the wheel likely needs to attract... View full entry
The best things in life are free, but construction cranes still cost money, which has prompted an investor to sue the developers behind SHoP's 111 West 57th Street for failing to budget appropriately for the cost of cranes (among other things) for the super skinny tower, which is already way over... View full entry
What will higher timber prices as a result of Trump's new tarriff mean for architecture? Dr. Warren Mabee, who is the Canada Research Chair in Renewable Energy Development and Implementation at Queen's University, told me over the phone that it will likely halt or significantly alter the design... View full entry
Documents that Macedonia's Special Prosecution, SJO, seized on Tuesday with a court order from the Culture Ministry refer to a million-euros-worth tender to build the Museum of VMRO and Macedonian Struggle for Independence...The SJO [...] says it will reveal the start of two new investigations. If one refers to "Skopje 2014", it will be the first-ever serious criminal investigation into this costly project which, according to BIRN’s database, has cost 667 million euros already. — Balkan Insight
Balkan Insight reports that the hefty €667 million+ price tag (approx. $730 million+) of the grandiose revamp “was mainly due to the signing of 123 contracts with firms and individuals for its construction, many of which were annexes to the original contract.”Balkan Investigative Reporting... View full entry
Mortenson Construction Vice President John Wood said stadium designers and builders will cover the cost, so it won’t be added to the overall budget or cost taxpayers or the team any money. [...]
the Minnesota Sports Facilities Authority tentatively agreed to pay Mortenson $16 million for cost overruns even though the final figures are still being tallied. The authority is overseeing construction of the $1.1 billion stadium and approved the payment to resolve a mediation claim by Mortensen.
— washingtontimes.com
Related on Archinect:How Cost of Train Station at World Trade Center Swelled to $4 BillionBudget Busters: ranking the world's most overbudget monumentsHKS is chosen to design new Vikings stadiumStadium Sticker Shock: Costs Explode for Russia's 2018 World CupPATH/Fail: The Story of the World’s... View full entry
With Frick and her book [Remaking the San Francisco-Oakland Bay Bridge] as guide, CityLab tracked bridge expenses over time to get some sense of how the project that Herbert Hoover once called “the greatest bridge yet constructed in the world” became yet another example of a major public works project in which the cost ended outrageously higher than it began—and some ideas for what to do about it. — CityLab
Zaha Hadid isn't the only one who has suffered from hugely inflated construction estimates: back in 1995, Caltrans estimated that it would only cost $250 million to retrofit the earthquake-damaged Bay Bridge. Eleven years and several construction estimates later, that figure had swollen to $... View full entry
World-famous architect Tadao Ando was astonished to learn that the design he chose for the new National Stadium would cost ¥252 billion to build, he said at a press conference Thursday, where he spoke for the first time since the swelling cost became an issue. — The Japan News
According to Reuters, the massive ballooning in the construction costs of Zaha Hadid's relatively unpopular proposed design for Japan's National Stadium are not the fault of the chairman of the design committee, Tadao Ando: "Soaring construction and labor costs, along with a rise in Japan's... View full entry
