The $750-million project is reportedly $100 million over budget and the Massachusetts Convention Center Authority is currently looking at options to reduce that figure. It blames most of the overruns on rising construction costs. Among the other cost-cutting measures under review is reducing the 600,000-sf exhibition space by 100,000 sf. But because construction drawings are 75% complete, this would require much of that work to be redone, adding to the design fees. The change might also require legislative, environmental and community approval.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
