Falling construction costs could benefit convention center hotel project

If you’re a convention center hotel supporter, this story over the weekend will make you smile: Construction costs are down, thanks to the recession, and that might help get the hotel done. Apparently, cities throughout Texas are finding hordes of eager contractors underbidding each other to get work these days. For example, the city saved about $2.4 million (from an original budget of $7.1 million) on construction of the Annette Strauss Artist Square downtown at the Center for the Performing Arts. And assuming the hotel bonds can be funded during the next 30 days or so (another DMN story over the weekend), someone downtown will soon be arguing that the hotel’s increased bond interest costs will be offset by the projected lower construction costs.

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