December 2, 2016
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.
For comments, questions or concerns, please contact Amy Sorter