Target dates at the World Trade Center have been moved by months and years for the more than $16 billion project, with the target end-date for the Port Authority to finish all of the site’s components by the end of 2013, the agency announced today.
Delays have been known publicly for months, and since June the Port Authority, which owns the site, has been working to resolve about 15 outstanding issues in order to set a new public schedule and budget for the project. The result was a 70-page report, issued this morning, which outlined the revised approach to the project and its individual components [PDF here].
The new target dates, (“probabilistic” dates), and [old dates] both set by the Port Authority:
- PATH Hub: 4Q 2013 (2Q 2014) 
- Memorial: 3Q 2011 (4Q 2011) 
- Museum: 1Q 2013 (2Q 2013) 
- Freedom Tower: 2Q 2013 (4Q 2013) 
- Greenwich Street: 2Q 2012 (4Q 2012) 
- Vehicle Security Center: 1Q 2012 (3Q 2012) 
In its report, the Port Authority did not cite a specific dollar value for all the overruns, though reported a price tag increase at the PATH station of about $900 million compared with a year ago, bringing the total station estimate to $3.1 billion (however, given federal contingency funds, the total cost is about $500 million more than previously estimated).
The Port Authority is looking at a total increase in costs of about $1.7 billion, according to multiple people familiar with the agency’s findings.