Achi news desk-
Work to convert Calgary’s first skyscraper into a mix of rental apartments and retail space has been halted by rising costs, leading to reports that construction workers are not being paid.
In a statement to CTV News, Strategic Group, the owner of the Barron Building, said that once work to modify the historic building began, they learned that the costs were “much higher” than anticipated.
“To address this, we have stopped building as we go through a value engineering process for this important project,” said the Strategic Group.
The company said it hopes the value engineering will be complete within 45 to 60 days, at which time they will resume construction.
“As construction resumes, all our construction partners will be fully compensated for the delay,” said the Strategic Group.
“We look forward to completing this special project and welcoming Calgarians to new homes in the Barron Building.”
The Barron Building, located at 610 Eighth Ave. SW, in 1951.
When it reopens, it will have 118 new modern rental residential rooms and a number of retail spaces at street level.
The project is expected to be completed later this year.
