Another $4M added to Waterloo Park renovation budget

One of the City of Waterloo's big projects is moving ahead with a larger price tag than expected, though still lower than the initial estimate.

The overhaul of Waterloo Park will cost almost $14 million rather than the budgeted $10 million, mostly due to increased costs of construction.

“Construction costs continue to go upward, with the costs of PPE, demand for construction, and the component costs of construction,” said Mayor Dave Jaworsky. “For example, as we all know, building a deck in the backyard: Lumber costs are outrageous right now.”

The cost of concrete has also risen, adding to the bill. 

City staff don't expect those costs to decrease anytime soon, which is why council decided it was best to go ahead with the project rather than look for a better price. 

“I know anyone looking at this report on its own is probably going to get some sticker shock,” said Ward 7 Councillor Tenille Bonoguore. “But, as staff have explained in the report and in discussions with me over the past week, there is an overall savings that is quite considerable for all the work that is going on in the park.”

The third part of the project will turn the north shore into a beach area, among other upgrades and improvements. Construction is expected to be finished late this year.

“Construction fatigue is real, pandemic fatigue is real,” said Bonoguore. “I think people are keen to have the park ready for use, so it seems wise to continue now, to get it done, and then once we are free to gather again, we're going to have a beautiful park just waiting for us.”

Those savings are around $4.7 million compared to the original estimate of over $18 million in 2019. Staff divided the grand renovation into three parts to be bid on separately, and managed to save that money as a result.

The $7 million part of the renovation was awarded to Gateman-Milloy Inc.