Subcontractors said they’re owed millions as the $850M presidential center prepares to open after years of cost overruns and delays | Obama Presidential Center (Obama.org, Getty)
By TRD Staff | The Real Deal
Contractors on the Obama Presidential Center say their invoices are going unpaid, reportedly missing millions in payments and jeopardizing the future of businesses.
The Obama Center has gone hundreds of millions over its original $300 million cost estimate. The 19-acre museum and library’s construction cost has ballooned over the years to a staggering $850 million, nearly tripling the projected budget.
African American Contractors Association president Omar Shareef said that a total of seven separate subcontractors have contacted him for help with pursuing missing payments in the past several months, according to Crain’s. Some of the contractors are owed seven figures. They’re willing to settle for less, as long as they can keep their businesses running.
“It’s to the point that they wished they had never done (the project),” Shareef told the outlet.
The delays and skyrocketing costs were caused in part by the pandemic and in part by a half-decade legal battle. By the time the groundbreaking ceremony was held in 2021, the cost was pegged at $830 million. The center will finally open on next Friday, the Juneteenth holiday, and the public will gain access to the work of roughly 475 subcontractors, according to the outlet.
Report continues here.
Leave a Reply