November 21, 2005
Hurricane warnings
We're starting to see projections of the coming hurricane-related hikes in construction costs, and they could be substantial: The Indianapolis Business Journal reports that "construction industry officials say the hurricanes, along with increased demand for steel in China and India, could push up the cost of building stadiums and arenas as much as 12 percent." The American Institute of Architects projects just a 4% hike, but in either case, it could cause serious problems for projects already operating on slim margins; we've seen before how much trouble even a $30 million financing gap can be.
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