Phoenix Project's Rising Costs Forces Officials to Make Changes

Watts, Jim
May 2006
Bond Buyer;5/31/2006, Vol. 356 Issue 32392, p44
Trade Publication
The article reports that the city officials in Phoenix, Arizona are planning to make changes in the "Phoenix Project" due to the rising costs in the construction industry. The cost has risen more than 10% in 2005, which is forcing the authority to apply some revisions regarding the payments for the ongoing $600 million expansion of the downtown convention center project. The city has estimated the construction costs including the cost estimation of tripling of the size of the existing facility in April 2005. This will expand the size of the center to a total of 872,000 square feet of rentable space.


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