Construction of Columbus Crew SC’s new Arena District stadium is on time but slightly over its initial budget.
The stadium, due to be substantially completed in June, is now expected to cost $313.9 million by the time it’s finished.
According to the Crew’s updated budget, the $13.9 million increase over its original $300 million budget stems from several enhancements that are being funded by its private developers, the Haslam and Edwards families.
“The increase reflects stadium enhancements including a new plaza at the (northwest) entrance of the stadium, public plaza video board, finishes (and) social spaces,” according to a budget document provided by the Crew.
Of the $313.9 million in project costs, nearly $113.3 million has been spent so far on the project, which is moving forward with construction.
Crew stadium tour
The vast majority of the costs so far are $88 million in hard construction costs. An additional $17.4 million has been spent on professional and technical costs, $2.3 million has been spent in furniture and fixtures, $1.9 million has been spent in taxes and insurance and $1.3 million has gone to legal costs.
So far, the same amount of the project has been funded to date, according to the Crew. It has received the proceeds of $51.3 million in county-approved community authority bonds and $61.9 million has been contributed in private funds.
The Crew is still expecting $20 million from the state of Ohio and $25 million from a state loan program, called the Chapter 166 loan program, which we reported they were seeking last year.
Those funds have not yet been received yet, according to the document. The state of Ohio’s Facilities Construction Commission approved a $20 million Cultural Facilities Grant at its June 2020 meeting, but the actual funds still need to be released to the Crew, according to OFCC spokesman J.C. Benton. The Ohio Development Services Agency, which administers the Chapter 166 loan, did not respond to our request for comment on Friday about the status of those funds.
The entire buildout of the surrounding Arena District, which will also in the future include a mixed-use development, pedestrian bridge, parking garage, and city park, will cost much more.
The city of Columbus is contributing $63.9 million to that, and another $50 million toward the redevelopment of the Crew’s original stadium, Mapfre Stadium, into a training facility for the Crew and community fields.
According to the Crew, 86% of the project’s steel erection is complete, and 29% of the canopy structure and decking is complete.