In a recent government meeting, officials discussed the ongoing cost estimation and budgeting processes for two significant construction projects: the Stanton and Greenville developments. The discussions highlighted the challenges faced in managing project costs and the strategies employed to mitigate budget overruns.

The Stanton project, initially estimated at $73 million, has undergone a rigorous value engineering process aimed at reducing costs. Officials reported that through various adjustments, including changes to design and scope, they have managed to bring the construction costs down to approximately $57.4 million, which is about $622,000 under their revised target. However, the project remains about $2 million over budget when factoring in soft costs.

In contrast, the Greenville project has encountered its own set of challenges, including unexpected site conditions and additional requirements such as a traffic light installation. As a result, the project is currently estimated to be $600,000 over budget. Officials noted that the need for a retaining wall remains uncertain, which could further impact costs.

Both projects are in the design development stage, and officials emphasized the importance of continuous value management efforts to identify potential savings. They expressed optimism about the future of the projects, citing improved information from recent soil reports that could influence excavation and construction strategies.

Overall, the meeting underscored the complexities of large-scale construction projects and the ongoing efforts by officials to navigate budgetary constraints while ensuring project viability. Further updates on both projects are anticipated as the teams continue to refine their estimates and address outstanding issues.