FRISCO, Colo. (AP) - Frisco officials say construction on a workforce-housing project has been pushed back to next spring because of rising construction costs.
The Summit Daily News reports a project representative informed the town council last week that the only bid he received was $600,000 over the project’s budget.
The project had four interested contractors, but only one ended up submitting a bid.
Town officials attribute the increase in construction costs to a statewide building frenzy and devastating Gulf Coast storms.
They say lumber prices have increased by 28 percent in the past two months.
The project called Mary Ruth Place will house town staff and employees of local businesses. Officials had originally anticipated breaking ground on the project by the fall.
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Information from: Summit Daily News, https://www.summitdaily.com/
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