SkyRise Cost ‘Escalates Beyond’ $430 Million, Construction Expected By End Of 2016

The cost to build SkyRise is going up, and the developer is preparing to restart construction by the end of this year.

Jeff Berkowitz told Miami Today that the estimated cost to build SkyRise now exceeds the original estimate of $430 million. New attractions being added to the project have added to the cost of construction, he said.

The developer added that he is hoping to “recommence the construction” by the end of this year. Completion is scheduled for 2020.

Earlier this week, the developer announced a partnership with Legends, owned by the New York Yankees and Dallas Cowboys, to invest in, design, and operate SkyRise.

Berkowitz would not say how much Legends is investing in the project.