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July 24, 2008
Forest City in the News
Cleveland Plain Dealer, Forest City revamps proposal for riverfront convention center
The cost of building a riverfront convention center will exceed the $400 million cap set by the county, even with a substantial redesign.
Forest City Commercial Group reworked its plans for a convention center after updated estimates put the cost at more than half a billion dollars.
David LaRue, the company's chief operating officer, said Monday the redesign could shave up to $100 million in construction costs. Still, the company doesn't think it can meet the county's cap.
LaRue wouldn't give the latest project estimate but said it was "within the ballpark."
The Cleveland Free Times, Payrolls And Politics
Forest City unveiled its new design for the planned convention center. To shave a few pennies off the half-billion-dollar, publicly funded construction project, which the residents of Cleveland balked at, they decided to get rid of the stilts and not charge the county for "air rights." Um, thanks?
Posted by lumi at July 24, 2008 3:55 AM