SLC Terminal Redevelopment

December 2, 2016 Comments Off on Terminal Redevelopment Budget Increases by $350M Views: 249 National News, Southwest, Utah

Terminal Redevelopment Budget Increases by $350M

The Salt Lake City Department of Airports announced that the Terminal Redevelopment Program’s (TRP) budget has increased by $350 million. The estimated construction cost for the program is now at $2.9 billion.

The reason for the increase is additional construction and labor costs. Utah’s strong economy has led to an active construction market. Construction activity typically averages $2.5 billion annually. But the current economic client has pushed construction activity to an all-time high of $5 billion annually.

The TRP is focused on replacing the airport’s passenger terminals, concourses and related areas. The original cost of the first phase was estimated to be $1.8 billion. The project is on track for a late 2020 phase one opening date.

Read More at Utah Business

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