Elevator Replacement Cost for Ontario City Rises Considerably

The cost to replace a pair of elevators serving the King Street parking garage in downtown Peterborough, Ontario, Canada, has increased by CAD240,000, from CAD545,000 (US$402,973) to CAD795,000 (US$587,823), The Peterborough Examiner reports, citing soaring construction costs. The city received four bids and selected the lowest bidder: Toronto-based B.E. Construction Ltd., which bid CAD685,750 (US$507,043). Additional costs will include consultant and contingency fees. According to a city staff report, the elevators are original to the building and are past their useful life. New units are needed to ensure accessibility. A City Council vote is scheduled on August 28, and work — which will involve shutting down one elevator at a time — is set to start in early 2024 if the plan is approved.