Redevelopment of Halifax interchange more costly
The project budget for the redevelopment of the Cogswell interchange has risen significantly.
The cost to redevelop an aging interchange in downtown Halifax has risen dramatically since the project went to tender.
The Cogswell interchange project is expected to be awarded to Dexter Construction, which came in with the lower of the two bids at $95.7 million. Now, however, higher than anticipated construction costs will increase the price tag to $122.6 million.
The boost in price is being attributed to inflation and construction costs that have risen since the original estimate.
All told, 6.5 hectares of concrete roads and ramps will be demolished and this space will ultimately be converted into a mixed-use neighbourhood.
If council approves the staff recommendations, the project could begin in December and be wrapped up in 2025