NASHVILLE – Rising prices for items such as concrete, steel and labor are helping drive up costs of some state building projects, including the University of Tennessee at Chattanooga’s planned west campus housing and garage.
Tennessee Building Commission members this month approved a $3 million increase for the $80 million UTC project. It represents a 3.75 percent markup over the original estimate, bringing total costs to $83 million.
“This request covers market price increases, primarily those involving concrete and steel,” University of Tennessee President Joe DiPietro told building commission members.
The project includes a 600-bed dorm, associated dining facilities and a 650-vehicle parking garage. The university’s existing Racquet Center, built in 1976, is being demolished and existing tennis courts are scheduled for renovation.
Building commission members also approved a $5.7 million increase in funding for a proposed $22.3 million parking garage addition at the UT-Knoxville campus. The 900-1,000 parking space facility will be adjacent to an existing Lake Avenue garage. It’s projected cost – now $28 million – is 26 percent above the original plan.