DETROIT (AP) — Detroit officials say the cost to build a new arena for its NHL team has risen from $627.5 million to nearly $733 million.
The Detroit News reports that it’s unclear if any of the more than $105 million increase to build Little Caesars Arena is because of a possible move by the city’s NBA team, the Pistons, to share the venue.
Development authority officials say the price increase is mainly because of more specific prices paid for such things as materials, permits, design refinements, subcontractor agreements and other costs that were expected to rise in building the venue.
Officials say the revised estimate doesn’t mean there have been massive cost overruns nor that the city or taxpayers face additional expenses.
Construction on the arena began last year. The venue is scheduled to open next fall.