GRAND RAPIDS, Mich. (WOOD) — The cost of the latest project at the Soo Locks is reportedly coming down. According to The Detroit News, the U.S. Army Corps of Engineers says the cost estimate for the new lock has dropped 13%.
Previously, the cost estimate was set at approximately $3 billion. In a stakeholder presentation last week, the USACE said the latest estimate is around $2.62 billion.
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Most of the changes come from eliminating contingency costs now that each contract with the project has been awarded.
“Being able to award all nine options on time meant that we were able to eliminate essentially $250 million worth of risk to the project,” USACE Deputy District Engineer Kevin McDaniels said.
Construction on the new lock is still on track to be completed by the summer of 2030. The new lock, which is being built “in the footprint of the Sabin Lock,” will be the same size as the Poe lock: 1,200 feet long, 110 feet wide and 32 feet deep…