By Jon Walton www.constructiondigital.com
One World Trade Center – the iconic office building slowly reaching skyward in New York City’s Lower Manhattan – has far outpaced other skyscraper projects around the world in cost of construction at $3.8 billion, by last estimates.
The politically-charged project has experienced waves of delays and price increases in the decade since the September 11th attacks, almost doubling from its original estimate of $2 billion. Even at these more modest numbers, however, the tower would still have dwarfed other global projects, including the Burj Khalifa – the world’s tallest tower – at a mere $1.5 billion.
The latest price hikes came as the Port Authority voted to incorporate leasing expenses for the office building into estimates for the project, moving projections forward $700 million from the $3.1 billion estimate in 2008. More info