Private real estate development projects in major cities of the United States are not cheap. Total costs easily reach over a billion dollars. BusinessInsider recently posted about the eight most expensive real estate development projects in America as of 2017.
City Center – Las Vegas, Nevada
The City Center is located in the heart of the Las Vegas Strip and boasts 16.7 million square feet of the finest shops, casinos, hotels, and luxury condos. The project took over three years to complete and was estimated at $8.5 billion.
The Spring District – Bellevue, Washington
The Spring District is a work in progress that’s estimated to be complete by 2028. This $2.3 billion project features a 16-block neighborhood that includes a light rail station, parks, and office or retail spaces.
Brickell City Center – Miami, Florida
Completed in 2016, the Brickell City Center is located in the financial district of Miami and cost about $1.05 billion. The development stretches across five blocks and has a number of restaurants, condos, office towers, and even a movie theater.
Springwoods Village – Spring, Texas
Another work-in-progress is the Springwoods Village which sits just 20 miles north of Houston, Texas. The development is estimated to cost $10 billion and feature offices, residences, restaurants, hotels, and lots of green space. Phase 1 has been complete since 2014, but the end date for the entire project is estimated to be another decade.
The Seaport District – Boston, Massachusetts
The Seaport District is nothing new to Boston, in fact, it has been around for over 150 years. What landed it on this list though is its redevelopment that began roughly seven years ago. So far, it’s a $2 billion project, but if the city approves more of the development’s components, it could easily rise higher than that.
Hudson Yards – New York City, New York
The development of the Hudson Yards in New York City is set to be the largest real estate development America has ever seen. Located on the far west side of Manhattan, this $20 billion project is forecasted to be open by 2024.
The Trinity River Project – Dallas, Texas
The Trinity River Project has been in the works since the early 2000s. So far, the city of Dallas has spent over $609 million building trails, a golf course, and a community center for the 10,000-acre nature district. The last part of the project is the Harold Simmons Park which is estimated to cost $250 million.
The World Trade Center (Rebuilding) – New York City, New York
The attacks on the World Trade Center on September 11, 2001, left many buildings destroyed beyond repair. The development is planned to rebuild all seven buildings. As of this past year, four of which are complete. These four rebuildings cost over $4 billion. When you take into account the rest of the project that is left to be completed, including a memorial, it will jump to over $8 billion. According to the New York Times, if you factor in all that had been lost and the cost to replace and clean-up, it comes to nearly $55 billion.