The bulletproof glass facade proposed for the glitzy arena will cost a mind-blowing $625 per square foot, a source familiar with the designs told The News.
“I think the owners clearly didn’t have their financing tied down for this project, and that’s going to be the biggest hurdle,” said the source, who spoke on condition of anonymity about the sky-high prices associated with securing the 850,000-square-foot arena against terrorism.
“With the security concerns at the arena, there’s not much you can do to make it that much cheaper,” added the source.
As The News first reported last month, developer Forest City Ratner has hired value engineers to find ways to cut costs at the $4.2billion development project.
Sources close to the project said the cost of reinforcing the arena’s thick glass with a ballistic-resistant glaze shocked even Gehry’s own designers.
“The office was very surprised at how expensive the glass configurations actually were,” said the source, who added the arena’s price tag jumped from $637 million to $950 million because of the cost of protecting it from attack.