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Cost Increases For Potomac Yard Metro Project

Posted on Apr 06,2018
Filed Under News , Community,
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Image via bakdc/Shutterstock

By Emily Leayman

ALEXANDRIA, VA. - The Potomac Yard Metro project is moving closer to construction, but first the Alexandria City Council must approve the revised budget.

The council is reviewing changes to the project ahead of approving the revised funding agreement on April 10. The $320 million budget is a notable increase from the original $268.1 million budget, based on rising construction costs.

The construction bids Washington Metropolitan Area Transit Authority received last year were much higher than the initial budget, which was based on 2015 estimates. The latest budget factors in cost increases for concrete, steel and labor. In February, the city and WMATA received revised proposals factoring in cost-saving practices.

Once the council approves the new funding agreement, the Washington Metropolitan Area Transit Authority can award a construction contact. The city has already approved a special use permit for the project, but the contractor will have to request an amendment to implement cost-saving practices.

The council will also consider a proposal to eliminate a future tax district to pay for the station. The current funding plan involves a "Tier I" district, which has taxed commercial properties in the north and central areas of Potomac Yard since 2011, and a "Tier II" district that will tax residential properties when the station opens. City staff recommend replacing the "Tier II" district revenue with right-of-way easement revenue from a new underground power line proposed for construction along Potomac Avenue.

The station will be funded mostly through continuing development in Potomac Yard, special tax district revenue, regional transportation authority grants and developer contributions. That means Alexandria residents outside Potomac Yard won't be contributing tax revenue to the project.

Construction on the new Metro station could begin as early as late 2018 and finish to be open in late 2021 or early 2022.

For more information on the project, visit www.alexandriava.gov/PotomacYard.

Source Patch



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