When last we checked in with the Arts of Collin County, the organization pushing to construct a joint arts complex for Plano, Frisco, and Allen was bidding out the project in hopes that lower construction costs would enable them to get under way sooner.
ACC executive director Mike Simpson was expecting that costs would come in under $80 million, far less than the costs of constructing the first phase (a 2,100-seat theater) were originally estimated to be. Well, Simpson’s wildest dreams came true, the nonprofit announced today. The construction bid came in at $69.9 million. That’s $16 million less than than they were projecting early last year.
So Simpson has shrunk the deficit necessary to get dirt moving by April to just $5 million. They have $57 million pledged years ago by the three cities, and they’ve raised about $10.4 million in donations. If that math doesn’t add up it’s because some of those donations aren’t payable until construction is under way or after it’s completed.
Who wants to buy some naming rights? I suspect they’re looking at you, AT&T.
