Reporter Rochelle Olson updates you on the construction of the new Minnesota Vikings stadium in downtown Minneapolis.

Meeting set for Friday on stadium costs

Posted by: Janet Moore Updated: November 19, 2013 - 12:48 PM

The Minnesota Sports Facilities Authority, the public body overseeing construction of the $975 million Vikings stadium, will meet Friday morning to discuss true construction costs related to the project.

This discussion over the "guaranteed maximum price" or GMP of the stadium was supposed to occur more than a week ago, but reports have surfaced about the authority and the Vikings being far apart in terms of what stays in the project, and what goes. Construction manager Mortenson Construction and architect HKS Inc. are also deeply involved in the negotiations.

The construction budget is $737 million -- and we've reported that bids have come in $20 million to $30 million higher than expected. On Friday, the public will learn more about the construction budget. Once the GMP issue is settled, a ceremonial groundbreaking will take place on Dec. 3, and the state will issue bonds to help pay for its portion of the project.

MSFA chairwoman Michele Kelm-Helgen said earlier this month that the stadium is still on track for a summer 2016 opening. That's in time for the 2016 Vikings season.

Janet Moore covers commercial real estate for the Star Tribune.

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