New York City
The estimated price tag for the memorial planned at the site of the World Trade Center has soared to nearly $1 billion, The New York Times reported this week. Officials have capped the budget for the memorial at $500 million. But construction managers now estimate they’ll need $972 million to construct the 16-acre memorial, which is to include an underground museum containing the names of all the victims, waterfalls, and two pools of water where the Twin Towers once stood. Meanwhile, the foundation in charge of raising money to supplement government revenue says fund-raising has been lagging. Insiders said the entire project—which would be the most expensive memorial in U.S. history—may have to be dramatically scaled down.
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