The projected cost for the proposed public safety building project in Esquimalt has ballooned by nearly $14 million.
The project, which will see the replacement of the demolished former public safety building, was originally pegged to cost $42 million in February 2021.
But after tenders were issued in December 2022, the new cost jumped up to $62.2 million.
A report released Wednesday calls the presented budget from the project’s construction manager “unexpected.”
The Township says the original budget was revisited in June 2022, when it was increased by $6 million.
At the time, Esquimalt staff adjusted the forecasted cost of the project and determined another $6 million was needed to finish it, bringing the grand total to $48 million.
Since then, it has ballooned by another $14 million. Esquimalt officials are attributing the cost to a skyrocketing construction industry.
A spokesperson with the Township of Esquimalt has stated that council is seeking grants to alleviate some of the burden of projected cost overruns. To date, the public safety building has not received any significant funding to offset the $62.2-million price tag.