I'll be curious to see how the design gets finalized and how much it resembles these renderings.
I lifted the info below from a 2020 report that the CoS had published, but I believe the actual budget was prepared in 2019.
Quote:
Budget
The project budget is $134 million. The total project budget crosses multiple budget years, $132.7 million in 2019 and $1.3 million in prior years.
The budget includes all project costs:
Land $ 9,000,000
Professional Services & Consultants $ 12,600,000
Construction & Site Preparation $ 73,300,000
Furniture & Equipment $ 9,600,000
Permits, Fees & Other $ 1,300,000
Public Art & Public Engagement $ 1,300,000
Insurance $ 500,000
Escalation Allowance (Inflation) $ 3,000,000
Tax $ 7,000,000
Contingency $ 16,400,000
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$73,3M for 136,000 sqft of building works out to about $539/sqft. That's not particularly high for a building of this type. With the construction cost escalations we've seen in the last couple of years, I'd say that the $16.4M contingency is already gone. So, something's going to have to give. Either the design gets modified/shrunk or the City is going to be paying more money for the project. Given that this is already a somewhat contentious build, I things things are going to get ugly when the cost overruns begin to be reported.