[Rizzo]

Originally Posted by ardecila

http://www.metroplanning.org/news-events/blog-post/6673

Can someone explain to me how this possibly costs $85 million? You can put up a high-rise for less than that.

At these construction costs, it's easy to see why they need every subsidy and tax break under the sun.

I'm floored by the cost. I worked on a market rate residential project about half the size of this. Same number of floors (concrete and steel construction), retail space, internal parking, with a mid-high end palette of finishes and cladding on a busy downtown site. Cost was $15 million. Again, just half the size.