9/11 Memorial Cost Jumps to $1 Billion

05-06-06 - Construction costs for the World Trade Center memorial have risen to an estimated $1 billion, twice as much as officials had planned to spend. Last year, officials said the memorial, slated to open in 2009, would cost $490 million to build.

Contractors this week issued a revised estimate of $1 billion. The new estimate includes $700 million for memorial and museum construction and $300 million to prepare the site, such as work shoring up a retaining wall and other infrastructure costs, the source said.

The names of the nearly 3,000 dead will surround the pools underground. An underground museum dedicated to Sept. 11 will be built around the memorial. The memorial would by far be the most expensive ever built in America. The World War II memorial in Washington cost $182 million to build. Construction costs for Maya Lin's Vietnam War Memorial wall, also in the nation's capital, were $4.2 million.