The cost of consolidating Greenwood city offices in the Presnell Cos. office tower has risen to about $6.2 million, close to what a new building was supposed to cost a few years ago.
Greenwood originally estimated that renovations would cost $2 million, but an architect has determined the city will have to spend nearly twice that amount to make the office tower into the new city hall. Greenwood now is looking at spending $3.9 million on sweeping renovations that include a new electrical system and office space. The money will come from an eastside tax-increment financing, or TIF, district.
The city paid $1.75 million to buy the tallest Old Town building out of foreclosure, as well as two nearby parking lots. And the cost of fixing it up is projected to be about $3.9 million. Unexpected work includes moving load-bearing pillars, controller Adam Stone said.