By Richard Webner Updated 12:32 pm, Tuesday, April 17, 2018 window._taboola = window._taboola || []; _taboola.push({ mode: 'thumbnails-c', container: 'taboola-interstitial-gallery-thumbnails-5', placement: 'Interstitial Gallery Thumbnails 5', target_type: 'mix' }); _taboola.push({flush: true}); window._taboola = window._taboola || []; _taboola.push({ mode: 'thumbnails-c', container: 'taboola-interstitial-gallery-thumbnails-10', placement: 'Interstitial Gallery Thumbnails 10', target_type: 'mix' }); _taboola.push({flush: true}); window._taboola = window._taboola || []; _taboola.push({ mode: 'thumbnails-c', container: 'taboola-interstitial-gallery-thumbnails-15', placement: 'Interstitial Gallery Thumbnails 15', target_type: 'mix' }); _taboola.push({flush: true}); window._taboola = window._taboola || []; _taboola.push({ mode: 'thumbnails-c', container: 'taboola-interstitial-gallery-thumbnails-20', placement: 'Interstitial Gallery Thumbnails 20', target_type: … [Read more...] about River Walk hotel project abandoned due to high construction costs
Construction costs
Sky-high construction costs rose again in 2017
The cost of construction in New York City increased 3.29% between the first quarter of 2017 and this year, according to a report released Monday. The rise will add to the end-cost of apartments and public projects like the Second Avenue subway. The rise here was less dramatic than in the country as a whole, which saw construction costs notch up 4%, according to a report from Rider Levett Bucknall, a Hong Kong–based consulting firm. And any effects from President Donald Trump's steel tariffs, which were anticipated for months before he announced them in March, were noticeably absent. "With the suspected exception of a jump in sales of antacid tablets and enrollment in meditation classes," Julian Anderson, Rider Levett Bucknall's President for North America, said in a statement, "the federal tariffs proposed for imported steel and aluminum have had few quantifiable effects on the marketplace." article continues below advertisement The company pegged construction costs in the … [Read more...] about Sky-high construction costs rose again in 2017
AGC: Construction costs climbed in March
Construction costs climbed again in March, with increases for a wide range of building materials, including many that are subject to proposed tariffs that could drive prices still higher and cause scarcities, according to an analysis by the Associated General Contractors of America of Labor Department data released April 10. Association officials warned that tariffs ... … [Read more...] about AGC: Construction costs climbed in March
Construction costs put squeeze on Target Center project
A long-planned renovation of the city-owned Target Center may have to be scaled back in some areas to cope with rising construction costs across the Twin Cities. The news comes exactly a year after city, Timberwolves and AEG officials announced a $97 million deal to overhaul the 24-year old building. The project is still on schedule for fall 2016 completion, but Timberwolves Senior Vice President Ted Johnson said they know the original budget won’t buy as much as they initially expected -- given the current construction market. The budget has also grown slightly, to $99 million, because the city and team each kicked in another $1 million after the Timberwolves vacated their Target Center offices – triggering a clause in the term sheet. The team is moving to the building formerly known as Block E. “We’re not going to be able to afford the exact same specific project that we had envisioned at $99 million two years ago,” Johnson said. “But I don’t … [Read more...] about Construction costs put squeeze on Target Center project
MTA’s excessive construction costs are paralyzing growth: Report
Critical issues at every stage of development have led the MTA to build the most expensive transportation projects in the world, with bloated costs and delays that threaten to keep the authority from growing further, according to a new report. The report, published by the Regional Plan Association on Tuesday after more than two years of research, found that cities across the country and the world are building rail projects for much cheaper rates than the MTA and pointed to systemic, cultural and bureaucratic problems at every stage of government as a reason why. It offers sweeping reform recommendations for every step of the process — including labor, political, contracting, engineering, construction and post-construction processes. “The extraordinarily high costs associated with building transit projects in New York are due to many factors, at every stage, from decisions made by political leaders at the inception of the projects to the final stages of lengthy planning, … [Read more...] about MTA’s excessive construction costs are paralyzing growth: Report