GREENSBORO, N.C. -- The estimated cost for the Stephen Tanger Center for the Performing Arts has increased by $6.6 million.
The Greensboro City Council voted Tuesday evening to award a $57.9 million construction contract to the Barnhill Contracting Company.
The total estimated cost of the project has increased from $78.1 million to $84.7 million.
Walker Sanders, President of the Community Foundation of Greater Greensboro, says the cost of doing business has gone up since 2015 when the last estimate was given.
"We're in a really strong economy right now. Building is strong, and prices are going up," Sanders said.
Construction is expected to take about 22 months with the center opening in early 2020. In June, project leaders had said the projected opening was in 2019.
The cost of the project will be split between the city and private donors.
The city plans to use hotel/motel tax revenue, ticket fees, garage parking revenue, VIP parking revenue and grants to cover the cost.
The Community Foundation of Greater Greensboro and the city teamed up in 2012 to begin the project. The performing arts center was originally set to open in 2017.
"This to be a first-class facility that this community can be proud of for 100 years to go," Sanders said. "If it's going to take us a couple of years longer to design it the right way and not make those compromises, then we were willing to take that extra time to do it right."
Project leaders say budgeting, designing the building and permit approvals all played a role in delaying the construction.
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