Apple’s proposed solar-powered “spaceship” campus is expected to cost an additional $2 billion more to construct than originally estimated. The total projected cost of $5 billion would make the structure more expensive to build than the new World Trade Center complex in New York City ($3.9 billion) according to five people close to the project as reported by Bloomberg.
If you recall, the late Steve Jobs personally announced plans to build the facility during a Cupertino City Council meeting in June 2011. In fact, it was his last public appearance on behalf of Apple before his death.
The co-founder was instrumental in designing the elaborate 176-acre complex which is expected to feature curved glass throughout with no seams, gaps or paintbrush strokes visible anywhere. What’s more, every wall, ceiling and floor is to be polished to a supernatural smoothness while the interior wood will consist of “heartwood” from the center of a specific type of maple tree.
It’s unclear whether or not all of these stringent design elements will stand as the architect behind the project, Foster + Partners, is reportedly trying to shave $1 billion from the budget. What we do know, however, is that the projected completion date has been moved back from 2015 to 2016 – validating rumors on the subject from late last year.
Apple could cancel the project altogether but that would likely be a huge mistake as A) they need the office space and B) it could be brand suicide. We’ll have to wait and see how investors react to these latest developments in the midst of declining stock value.