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RALEIGH, N.C. — Construction crews will soon begin digging to build a $25 million underground parking deck with a hotel above it. On Wednesday, Raleigh city leaders met with business owners to let them know what is happening with the project.
The new facility will have 900 parking spaces for the public, hotel guests and patrons of the new convention center.
The $192 million project is on schedule, but staying on budget will be tough. Extra expenses such as an additional $1.3 million for asbestos removal have popped up. Plus, costs for steel and concrete continue to rise.
In the next few months, the Raleigh City Council will meet to decide if any changes need to be made to keep costs down and ensure the new buildings go up.
Demolition is scheduled for later in the fall. Construction on the underground parking garage starts in January while onstruction on the hotel starts in October.
The new convention center is slated to open in 2008.
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