Key Bridge’s price tag increases by more than 250%

No one is immune to increasing costs. That is proving true when it comes to rebuilding the Francis Scott Key Bridge in Baltimore.

Estimated costs to rebuild the bridge have increased by more than 250%.

Topographic and underwater surveys for the Key Bridge rebuild project began in January, and a new design was unveiled in February. Initial estimates were for a new bridge to be completed in late 2028 for just under $2 billion.

In September, Politico reported that rebuilding the bridge could now cost more than $5 billion.

The collapse

The Key Bridge collapsed into the Patapsco River early the morning of March 26, 2024, after it was struck by a ship. The U.S. Department of Justice filed a civil lawsuit against the owner and operator of the vessel in October 2024. That suit was settled for more than $100 million.

In December 2024, it was announced that federal funds would cover the cost to rebuild the bridge.

“Congress’ decision to work together to rebuild the Francis Scott Key Bridge marks a key moment in Maryland’s historic recovery and proves that moving in partnership isn’t just important – it is imperative for real progress,” Maryland Gov. Wes Moore said.

DOT’s concerns

U.S. Transportation Secretary Sean Duffy sent a letter to Moore on Sept. 18 regarding the new Key Bridge.

Among the U.S. Department of Transportation’s concerns expressed in the letter were using federal funds responsibly, prioritizing core project elements and maintaining the traffic capacity needs of the new bridge.

Delivering a project that exceeds the expectations of the traveling public should be the aim, Duffy wrote in the letter.

“It’s my job to ensure the American people’s tax dollars are spent properly and major projects are completed on time and on budget,” Duffy wrote. “We will leverage our oversight authorities to ensure this vital bridge is rebuilt the right way.”

Duffy added that the U.S. DOT plans to continue discussions on how to support Maryland’s DOT in completing the rebuild on time, on budget and in compliance with the law.

The letter referenced a $1.8 billion cost and a 2028 expected completion date. LL