In Syracuse, New York, plans for an aquarium at Inner Harbor are finally moving forward after three and a half years of being proposed. Despite efforts to keep the project within its $85 million budget, the rising costs of construction materials over the past four years are likely to result in some scaling back of the original plans.
County Executive Ryan McMahon is determined to stick to the $85 million budget for the aquarium, although Chief Economist Ken Simonson predicts that adjustments will need to be made to accommodate the increased costs. It is estimated that the aquarium may need to be reduced in size or features by around 25% to stay within budget.
To address the budget constraints, McMahon’s team is considering securing donations or corporate sponsorships to potentially enhance the exhibit offerings when additional funds become available. Every aspect of the design will need to be reevaluated if the project needs to be downsized to align with the budget.
Despite the challenges, the construction of the $85 million aquarium in Syracuse’s Inner Harbor is still moving forward. The expectation that the project may need to be scaled down due to budget constraints is not uncommon in New York State, according to the New York chapter of the General Contractors of America.