Plaza de Panama back on track, bids for restoration higher than estimated

SAN DIEGO (KUSI)- Last Friday, bids for a grand restoration of Balboa Park came in, and they are considerably higher than earlier estimates.

About 40–percent higher for construction costs alone. The City is evaluating those bids which could determine whether or not this project goes forward.

The Sam Diego City Council approved this project back in 2012 as a public-private partnership between the City of San Diego and the Plaza De Panama committee. But, it’s been delayed all these years by legal challenges.

The City would contribute $49 million, and $30 million was pledged by philanthropist, Irwin Jacobs.

Two other bids came in at $85 million and $105 million respectively. The City is currently evaluating those bids.

With construction costs escalating by the month the committee will be lobbying the new council members to move forward with this partnership. Plaza De Panama board member, Jim Kidrick feels confident this project could get underway before this summer.

Categories: Local San Diego News