Like nearly every show on HGTV, team owner Arthur Blank is living through a construction nightmare that is coming in behind schedule and over budget. Remember back in 2007 when the new Falcons stadium was projected to cost $700 million? Well, that was before Blank found out he needed a new roof, the foundation was held up with a few bricks, and the old wiring is a fire hazard.
This flip is turning into a real flop.
The Atlanta Journal-Constitution reported that the stadium is expected to have nearly $200 million in changes, and is expected to top out at $1.5 billion. As it turns out, that wall was structural and will cost a lot of money to really open up the living space.
The latest project status report by the Georgia World Congress Center Authority says the Falcons’ stadium company “has issued change orders” to general contractor Holder Hunt Russell Moody “in the cumulative amount of $199.5M for various scope changes.”
Half of the changes were planned for in contingencies, but the Falcons are paying up the remaining $100 million for the changes. Luckily the tax payers are not on the hook for the additional costs, but the team has a very small window to complete the stadium on time for the 2017 season. The last mentioned completion date was June 1st, about 10 weeks before preseason typically starts.
What are change orders? I can only assume it is looking at counter tops at the introductory price, but falling in love with the expensive slab at twice the price. Then realizing it would be great to have the same material in the bathrooms, but you should really buy new vanities first. Then those new vanities are a different size, so you need new tile in the bathrooms.
The Property Brothers would have been able to find Blank an older stadium a little outside of his preferred area that just needed a little updating, but kept him within his budget. I think the Love It or List It crew would have made Blank fall in love with his old stadium all over again, while giving him the updated amenities he was looking for.