BALTIMORE (WBFF) — The price tag for rebuilding the Francis Scott Key Bridge has climbed significantly, with officials now estimating the project to cost between $4.3 billion and $5.2 billion.
The Maryland Transportation Authority (MDTA) also announced Monday that the new bridge is expected to open to traffic in late 2030, extending the projected timeline by several years.
“As design has advanced and pre-construction work progresses, it became clear that material costs for all aspects of the project have increased drastically since the preliminary estimates were prepared less than two weeks after the initial tragedy,” said Acting Transportation Secretary and MDTA Chair Samantha J. Biddle, via press release. “The updated cost range and schedule are directly correlated to increased material costs and to a robust pier protection system designed to protect the new Key Bridge and reduce the likelihood of a future ship strike to the bridge’s foundational piers. The new Francis Scott Key Bridge isn’t just a local infrastructure project – it’s vital to our nation’s economy and will connect the Baltimore region to economies throughout the United States and the world. Although rebuilding will take longer than initially forecasted and cost more, we remain committed to rebuilding as safely, quickly and cost effectively as possible.”…