The scope of a new city development, combined with a booming construction market, has raised the price of building new police headquarters and affordable housing in Aspen.
Jeff Pendarvis, asset project manager with the city, said the preliminary budget was calculated based on schematics, but now that steps are underway to begin building, current market rates have changed.
“As you know we are in a hot market here for construction, the market is ever-changing and it is escalating with inflation and the cost of doing business,” he said.
Originally the project was predicted to cost $17 million, current estimates come in at almost $21 million. A modular design will be used for the housing component, which is cutting costs by allowing work to be done off-site and then placed on the property located off of Main Street during the final stages of development.
