Estimated cost of West Seattle-Ballard link extension increases by 50%
Seattle's red-hot real estate and construction market are dramatically driving up costs of development for multiple Sound Transit link extension projects.
In a recent meeting of Sound Transit's Board Executive Committee, members were presented with new figures that showed a 50% increase in the estimated cost for the West Seattle-Ballard link from 2019 estimates and a 10% increase in cost for the Tacoma Dome extension.
CEO Kimberly Farley said "unrelenting pressures" in the area's real estate market compounded with lower revenue amid the COVID-19 pandemic are leading to the increase in cost.
"While estimated construction costs are up as we learn more during the project development process, the largest single cost driver is the need to acquire right-of-way while real estate prices continue to rise unabated, even during the pandemic, and new development occurs near projects," wrote Sound Transit in a blog post.
Cumulatively, the increased costs for both projects is estimated to be between $4.8 billion and $6.2 billion.
https://www.msn.com/en-us/news/us/estimated-cost-of-west-seattle-ballard-link-extension-increases-by-50/ar-BB1cGLMd?ocid=hplocalnews