Those in the real estate industry would scrutinize the price tag on billion dollar projects or those in development, while those who want to hike it in a new park trail surrounded by greenery don’t care for the cost, as that is something to be determined by its city government, which is what most millennials think.
That dichotomy should be avoided, as a lot of time, energy but above all, money, has been used to complete each of these big-name projects we’ve brought together. And since we’ve been looking into high-end projects, it will emerge that these constructions will have one thing in common: exorbitant prices. It will also emerge that the projects we’ve listed are all part of an exclusive club. That the one thing they have in common is that they literally cost in the billions. Who will emerge as the highest in price? Who is over their budget? Why do some projects have to be over $30 billion? Without further ado, here are the most expensive real estate developments in American history.
City Center in Las Vegas, Nevada
The City Center on the Las Vegas Strip is enormous, and it costs a lot as well. The project entailed $8.5 billion, and began in 2006. That’s a long time ago to complete this ultra-high rise, but then again, it’s Las Vegas and anything can happen out here. The City Center features five towers, 16.7 million-square feet of casinos, boutiques so stylish and fresh that it always feels as if it were Manhattan Fashion Week. In addition there are also hotels, and crazy-insane condos.
The Spring District in Bellevue, Washington
The Spring District is a mixed-use development that’s impressive in its size. It has an amazing group of housing, office space, parks and retail, all wrapped around a light rail station, which will set to open in 2023.
The 16-block neighborhood will cost $2.3 billion, and the project will be completed in 2028.
Brickell City Centre in Miami, Florida
Located in Miami’s financial district, the Brickell City Centre cost approximately $1.05 billion to build from 2014 to late 2016. The developed mixed-use community includes shops, a movie theater, a ton of restaurants, as well as office towers and condos.
Springwoods Village in Spring, Texas.
Springwoods Village, in Spring, Texas, will cost an estimated $10 billion before the development is complete. 20 miles north of Houston, this unique community will feature 5,500 residences, a hotel, office spaces, retail and restaurants.
The Seaport District in Boston, Massachusetts
This development, in the Boston seaport district that has been around for about 150 years old, will include 3,200 residential apartments, and seems to be the most entertaining of the bunch of high-end locales, with tech hubs, a performing arts center, 5,500 parking spaces, a giant public promenade and a hotel. This space also seems to be the most expensive, as the roughly $2 billlion to complete this project has been utilized for just the construction materials.
Hudson Yards in New York City
Located in the farthest west side, the Hudson Yards in New York City will be an impressive neighborhood. It’s $20 billion purse, set to open by 2024, will have a lot to offer Manhattan just as Manhattan already has a lot to offer its residents. But the Yards feels like a neighborhood onto itself, utilizing its dozens of buildings mixed in with cafes, bars, the best restaurant and shops, residential units, and even a school. For greenery, there will also be 14 acres of public outdoor space and located in an area that is much beloved to New Yorkers right now, the High Line, the elevated urban park in Chelsea. If you wanted to copy the spirit of New York, you may just have to shell out $20 billion for the project, which, no surprise, is being referred to as now the largest private real estate development in American history.
The Trinity River Project in Dallas, Texas
Things are looking up in Dallas. The Trinity River Project, a 10,000-acre nature district, where you can hike it or bike it, is finally moving steadily along. The development was created as early as 2000. 5 years later, the project snagged as the over $609 million development went over. But the Trinity River Project will be nicely developed once residents see it, once locals see how where the money was spent on building trails, a bridge, a horse park, a golf course, and a community center in a forested area near the city.
Rebuilding of the World Trade Center in New York City
After the World Trade Center in lower Manhattan experienced its devastating fall, plans to get rid of its debris by building monuments, new offices, new places where workers can congregate together.
The planned project called for seven buildings, and 3 skyscrapers are now complete. The area will also include a $4 billion transportation hub and three new skyscrapers dedicated to new offices spaces. There’s also a memorial right beside WTC, and the entire redevelopment will be completed by 2021. The 4 billion sounded expensive, but, as the New York Times had written, the budget may end up higher than that, around $8 billion once you take into account each detail, such as damaged computer and electricity.