New constructions is not always 2 to 3 times more. In fact by the time you
retrofit for seismic upgrades, technology upgrades, rewiring, plumbing, etc., it
will usually cost more than a new building.
New construction is always 2 to 3 times more than restoration. More
contractors, more sub contractors, more risk with weather delays, more
insurance costs, more legal fees, more bond underwriting fees, more
environmental issues, lots to go around. Just because the $238 million was
approved, doesn't mean it all has to be spent.