So the Second Ave subway project is already over budget. Yeah, I know. I said “What a surprise,” when I heard that too. A shovel has not yet hit the ground and they are planning to start $54 million in the hole…so to speak.
Rising real estate prices will force the Metropolitan Transportation Authority to pay about $54 million more than it had anticipated to buy five Upper East Side buildings and portions of 24 others to make way for construction of the Second Avenue subway, according to a new estimate provided to the authority.
Sometimes is makes me wonder why they even budget things like this. You know it’s going to go way over, and not just by a little bit. All they have to say is that they need more money, and the get it!
Don’t get me wrong, I’m all for the new line. However, lets just cut through all bullshit. We all know they they are going to go through with it. Once it starts, there’s no way in hell they are going to stop in the middle. Knowing that, contractors purposely hide costs that “all of a sudden” show up after the project gets under way. Why? Because the extra costs will just get approved and swept under the carpet.
That’s why I’m sorta shocked about this real estate news. Isn’t it someone’s job to think about this stuff?