Not everything at the Pan Am Games is on budget and on time

A close look at the $2.5-billlion Games shows significant cost overruns as contractors rush to get 31 venues in 16 municipalities ready for the big event.

Thestar.com
April 30, 2015
By Richard J. Brennan

Pan Am officials say the $2.5-billlion Games are on time and on budget but a closer look shows significant cost overruns as contractors rush to get 31 venues in 16 municipalities ready for the big event, starting July 10.

Here’s a look at where things are really at:

Tim Horton’s stadium, Hamilton: On budget, not on time. There was a fixed budget of $145-million is about a year behind schedule, June 30, 2014. Trouble getting materials and strained relations between the general contractor and the subcontractors have contributed to the tardiness.

Velodrome, Milton: On time but over budget. The difficulty was due in large part to delays in the installation of the track. The final tab was $56 million, $6 million more than estimated.

Centennial Park BMX Centre: Not on time and over budget. The original estimated cost was $1.54 million but ended up costing almost $4 million. The extra cost involved turning it into a permanent facility for a growing sport.

Pan Am shooting centre, Cookstown: On time but over budget. The estimated cost $3.68 million but ended up costing $6.2 million, about $2.5 million more. The extra cost came from unexpected increases in construction cost.

Pan Am / Parapan Am Athletics Stadium, York University: Not on time but expected to be under budget by $7.5 million. Original estimate was $52.95 million. Last-minute track work has delayed it.

However, not all is troubling news. Many of the other venues are on time and on budget or under budget to the tune of $56 million on the capital side, officials claim.