BOSTON-Despite recent reports that the Massachusetts Convention Center Authority was warned as far back as November of 1999 that the $750 million convention center project here in South Boston was over budget, MCCA officials insist that there was no way they could have known about the estimated $100 million in possible cost overruns.

“In November of 1999 we only had schematics,” Dean Stratouly, a powerful local developer who heads the MCCA board, tells GlobeSt.com. “At that point we were just estimating and that is so unreliable.”

Reportedly, Tishman Construction Corp., which is under contract with the MCCA, gave the MCCA a clear estimate then that demonstrated that costs were rising very quickly. According to Andy Antrobus, spokesperson for the MCCA, even if Tishman had provided project manager Walter Upton with an estimate back in November of 1999, it wouldn’t have been taken too seriously at that point. According to Stratouly, the first three bids for the center came in under budget.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.