Construction costs hammer in savings
Construction costs hammer in savings
After a long time of struggling to finance construction and infrastructure projects, developers now are seeing a big savings on their large-scale plans. Cost of materials including steel and lumber recently have dropped significantly allowing developers to get going with their projects that were put on hold for over last year. Now there is a great opportunity to save money as much as 70 percent below from the price previously estimated. These unexpected savings include projects as follow:
- Hetch Hetchy water system improvement,
- New structures in San Francisco's Mission Bay,
- Doyle Drive rebuilds.
Also, costs are recalculating for other construction projects including:
- BART's Warm Springs extension that will cost 45 percent below its previous estimate,
- San Francisco International Airport's Terminal 2 renovation that will cost 8 percent below its previous projection,
- A total of nine Hetch Hetchy projects will cost 31 percent below their previous estimates.
SF Business Times-9/11/2009