A major renovation of Hartford’s XL Center would cost tens of millions of dollars more than an estimate of $107 million, throwing into uncertainty a long-debated makeover of the aging arena and likely forcing another downsizing. Five months ago, the Capital Region Development Authority sought bids for what the already-downsized renovation of the sports and entertainment arena would actually cost. Since then, an analysis by the quasi-public CRDA of the bids — covering the individual components of the project — came in at more than $140 million. That’s not only well above the estimate, but also the state funding and private investment tentatively in place to finance the renovation. Freimuth said the $140 million is clearly a “nonstarter.” But Freimuth said he believes the project could be trimmed down to $125 million, making some deep cuts without sacrificing what is needed to make the venue profitable, critical to securing the private investment. The approach will require a new set of bids, as required under the state’s procurement rules, Freimuth said. A decision would be pushed out until June and it’s not certain, even then, if the project will go forward. If it does, renovations would potentially get underway in the fall. If the next set of bids comes in close to the $125 million, the project still may require additional money, perhaps from the local corporate community.
Renovation of CT sports and entertainment arena skyrockets to $140M. It’s a ‘nonstarter.’