After three and a half years since its initial proposal, the Syracuse Inner Harbor aquarium project is finally seeing progress as the economy catches up with it. County officials reassure that the project will remain on budget, although the surge in construction material costs by nearly 40% over the past four years will likely lead to some scaling back of the original plans.

The construction of the $85 million aquarium in Syracuse has commenced, with County Executive Ryan McMahon affirming that the total cost will not exceed this amount. However, Ken Simonson, the chief economist of the Associated General Contractors of America, points out that the increased costs mean some adjustments will need to be made. He suggests that a reduction of around 25% in size or certain features may be necessary to align with the budget constraints brought on by the recent cost spikes.

McMahon’s team acknowledges that the purchasing power of $85 million has diminished since the project was announced in 2021. They express openness to receiving donations or corporate sponsorships to enhance the aquarium’s exhibits when additional funding becomes available.

When projects like the Syracuse Inner Harbor aquarium need to downsize, every aspect must be carefully reevaluated, according to Simonson. This involves scrutinizing the design to determine which elements are essential and what can be reduced in terms of size, floor area, and display space.

The impact of budget constraints leading to project scaling down is not exclusive to New York State, as highlighted by the New York chapter of the General Contractors of America. Budgets may remain the same, but adjustments in project size are often necessary to align with financial realities.