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News & updates · MethodologyMoney
Public documents report major spending categories, but do not provide a complete vendor-level general ledger. Reported spending and engineer estimates answer different questions.
≈$35M
Source record
As of October 2025, the developer reported approximately $34.59 million to $35 million in land-development costs.
≈$18M
Source record
As of October 2025, the developer reported approximately $18 million in vertical construction spending.
≈$3.5M
Source record
As of October 2025, the developer reported approximately $3.5 million in general conditions.
≈$33M
Combined category. Marketing cannot be isolated from this figure.
Source record
As of October 2025, the developer reported approximately $33 million in a combined category of architecture and engineering, consulting, marketing, and financing costs. Marketing is not isolated inside this category.
≈$89.5M Derived sum of the reported categories · Oct 1, 2025
These categories may overlap and are not an audited capital stack or proof of all project spending.
Source record
Arithmetic sum of the four reported categories: About $35 million + About $18 million + About $3.5 million + About $33 million combined. Completeness and non-overlap are not established.
| Category | Reported amount | Status |
|---|---|---|
| Land development | $34.59 million to about $35 million | Developer-reported Sources (1) ↗Source record Evidence behind the recordSupportsLand development: $34.59 million to about $35 million. Reported October 2025.
|
| Vertical construction | About $18 million | Developer-reported Sources (1) ↗Source record Evidence behind the recordSupportsVertical construction: About $18 million. Reported October 2025.
|
| General conditions | About $3.5 million | Developer-reported Sources (1) ↗Source record Evidence behind the recordSupportsGeneral conditions: About $3.5 million. Reported October 2025.
|
| Architecture and engineering, consulting, marketing, and financing | About $33 million combined | Developer-reported Sources (1) ↗Source record Evidence behind the recordSupportsArchitecture and engineering, consulting, marketing, and financing: About $33 million combined. Reported October 2025.
|
These categories are roughly $90 million if added, but the source is not treated here as proof that the list is exhaustive or non-overlapping. No total is labeled as all project spending.
About $33 million combined
Reported spent
As of October 2025, the developer reported approximately $33 million in a combined category of architecture and engineering, consulting, marketing, and financing costs.
Marketing is not isolated inside this category.
Source record
As of October 2025, the developer reported approximately $33 million in a combined category of architecture and engineering, consulting, marketing, and financing costs. Marketing is not isolated inside this category.
| Category | Estimated cost |
|---|---|
| Land acquisition | $13,900,000 |
| Wetlands basins | $1,700,000 |
| Earthwork | $18,357,220 |
| Roadway construction | $30,329,955 |
| Entrance features | $408,534 |
| Water supply facilities | $24,607,774 |
| Sewer facilities | $12,215,795 |
| Stormwater facilities | $2,279,455 |
| Electrical | $1,600,000 |
| Landscaping / parks | $4,000,000 |
| Professional fees | $1,100,000 |
| Contingency | $11,049,917 |
| Total including contingency | $121,548,650 |
Line items other than contingency sum to $110,498,733. The engineer narrative's pre-contingency figure of about $110,498,773 is close but not identical. A separate exhibit total of $119,776,493 is also preserved. The differences stay visible.
$121,548,650 estimate
Estimated
February 2024 master methodology materials include a project-cost estimate of $121,548,650 including contingency.
Source record
February 2024 master methodology materials include a project-cost estimate of $121,548,650 including contingency.
About $110.5 million before contingency
Estimated
The same engineer material describes a pre-contingency capital-improvement total of approximately $110,498,773.
Source record
The same engineer material describes a pre-contingency capital-improvement total of approximately $110,498,773.
$119,776,493 alternate exhibit
Estimated
A separate project-description exhibit showed a total of $119,776,493.
Different lighting and contingency treatment. The tables are not collapsed into one total.
Source record
A separate project-description exhibit showed a total of $119,776,493. Different lighting and contingency treatment. The tables are not collapsed into one total.
| Improvement | Estimated cost |
|---|---|
| Wetland basins | $500,000 |
| Earthwork | $2,400,000 |
| Roadways | $3,959,216 |
| Entrance features | $500,000 |
| Water supply facilities — Described as privately funded and operated in the Series 2025 table. | $7,094,807 |
| Sanitary sewer facilities — Described as privately funded and operated in the Series 2025 table. | $7,864,796 |
| Stormwater management | $1,141,490 |
| Electrical | $878,377 |
| Landscaping / parks | $750,000 |
| Professional fees | $1,000,000 |
| Contingency | $2,596,369 |
| Total — A later allocation divides estimated benefit about $17,115,516.20 residential and $11,444,538.40 commercial. | $28,560,055 |
The stated total is $28,560,055. The line items above add to $28,685,055. Both figures are shown. A later allocation of the stated total is about $17,115,516.20 residential and $11,444,538.40 commercial. Costs not funded by the Series 2025 bonds were expected to come from developer equity, deposits, and EB-5 loan proceeds.
More than $800 million claimed
Dated observation
A December 2025 government grant application claims more than $800 million in combined financing for the overall development. The filing does not break that figure down enough to treat it as cash already invested.
Not treated as cash already invested.
Source record
A December 2025 government grant application claims more than $800 million in combined financing for the overall development. The filing does not break that figure down enough to treat it as cash already invested. Not treated as cash already invested.
A combined-financing claim in this filing is not treated as cash already invested.