Dallas' new American Airlines Center will cost more
than $300M, a price tag "at least" 30% higher than
originally anticipated, and up from a "projected" budget of
$230M, but it "will not affect" taxpayers' contribution
because the city "capped its share" at $125M, according to
Robert Ingrassia of the DALLAS MORNING NEWS. Larry Stuart,
a partner with Hicks, Muse, Tate & Furst, the development
group building the arena: "It's going to be a bigger and
better arena than we thought about when we first started."
The arena "will feature an expensive double-vaulted roof,
top-notch materials and a variety of amenities for fans."
Officials said the "final" arena budget "won't be set" until
the design is completed in the coming weeks. The Arena
Group, involving the Mavericks, Stars and related firms,
plans to borrow $210M to pay "for its share of the project."
That could boost the "projected cost" to $335M. Mayor Ron
Kirk: "If it's costing more because we're building a more
dynamic facility, I'm excited" (DALLAS MORNING NEWS, 4/28).
