Hunter
07/21/22
University of Iowa Health Care is asking for a third more in funding to build its new North Liberty hospital.
The Gazette reports that Hospital officials are asking the Iowa Board of Regents for approval on a revised construction budget for the 469,000-square-foot campus at the southwest corner of Forevergreen Road and Highway 965. All together, the new price tag is $525,628,000.
Officials say inflation and a shortage of workers is causing the cost increases.
The project is already under construction and there are no plans to change the campus layout, building design or floor plans as a result of the increased cost.
Senior Vice President for Finance and Operations at the University of Iowa Rod Lehnertz cited examples causing the increased costs. One was the Russian invasion of Ukraine, which has impacted the world’s aluminum supply and driven prices to new records. The cost of glass, according to Lehnertz, has risen 35 to 40 percent in the last few weeks alone. In addition, contractors are having a hard time finding skilled workers.
The Iowa Board of Regents will vote on the revised budget at its meeting next week.
The ten-year master plan for UI Health Care includes a new tower on the main campus in downtown Iowa City, a new College of Medicine building, and a clinic. The North Liberty project is expected to be completed by the summer of 2025.