I-5 replacement bridge costs: $6 billion, with luck
PORTLAND, Ore. (PORTLAND TRIBUNE) -- The replacement Interstate Bridge will most likely cost $6 billion to build, program administrator Greg Johnson said on Friday.
The first official estimates for the project released on Dec. 9 ranged from a low of $5 billion to a high of $7.5 billion. Johnson said he is hopeful the program team can hold the cost to $6 billion and maybe even lower.
"The low estimate is if everything goes right and falls into place with no problems. The high estimate is if everything goes wrong. We are confident we can keep the costs within the range," Johnson said.
The cost estimates are scheduled to be presented to the Bi-State Legislative Committee composed of lawmakers from Oregon and Washington on Monday, Dec. 12.
The new estimates are nearly double the cost from the Columbia River Crossing project that died in 2013 when Washington legislators balked at helping to fund it at the last minute. The estimates are also higher than the $4.5 billion to $4.8 billion building the CRC was projected to cost as recently as 2020. Johnson is not surprised.
Read the full story in the Portland Tribune.