122-acre BMT redevelopment (PANYNJ net lease) — $3.5B Vision Plan.
Budget
$3.50B
Spent to date
$45.0M
Remaining
$3.46B
Budget used
1%
4 phases
| # | Phase | Timeline | Status |
|---|
| Budget / spent |
|---|
| 1 | Design | Jan 1, 2023 – Jun 30, 2024 | In progress | $45.0M / $525M9% |
| 2 | Procurement | Jan 1, 2024 – Jun 30, 2025 | Pending | $0 / $350M0% |
| 3 | Construction | Jan 1, 2025 – Jun 30, 2026 | Pending | $0 / $2.27B0% |
| 4 | Closeout | Jan 1, 2026 – Jun 30, 2027 | Pending | $0 / $350M0% |
6 inspection deficiencies bundled · $88.1M backlog
| Severity | Deficiency | System | Status | Est. cost |
|---|---|---|---|---|
| Critical | Critical piles deterioration — marine inspection SBMT Wharf & Heavy-Lift Pad | Marine Substructure | In Capital Project | $60,956,433 |
| Critical | Underwater utilities repair required — marine inspection Waterfront Structure | Services | In Capital Project | $14,878,966 |
| Critical | Piles repair required — marine inspection Cruise Terminal Pier 92 | Marine Substructure | In Capital Project | $4,794,148 |
| Critical | Marine substructure repair required — marine inspection Cruise Terminal Pier 88 | Marine Substructure | In Capital Project | $4,109,573 |
| High | Piles repair required — marine inspection Waterfront Structure | Marine Substructure | In Capital Project | $1,861,675 |
| High | Scour repair required — marine inspection Waterfront Structure | Marine Substructure | In Capital Project | $1,460,387 |
How the project's programmed budget is distributed across phases.
The primary asset plus every asset carrying a bundled deficiency.