The rising cost of construction materials is having an impact on building projects of all sizes. Higher prices for steel and concrete in particular are adding to the price of development.
Those building the "Hard Rock" casino project say it's simply a case of supply and demand. Several years ago, it was gypsum drywall that drove up costs.
These days, it's concrete and steel products.
Chuck Dudenhefer is project manager.
"It adds to the cost. And we're trying to negotiate as many contracts as we can and get prices locked down as quickly as possible to try and avoid any of the escalations," he explained.
The rising cost of steel reinforement bar is one of the main materials affecting the cost of the Hard Rock. But the higher prices include a wide range of materials, including steel pipe for plumbing.
"A couple years ago it was gypsum drywall. You couldn't get ahold of it and the prices were high on the gypsum drywall. Now, it's steel and cement and some other things are in a prie escalation right now. Hopefully, that will level off and taper down a little bit here toward the end of the year," said Dudenfefer.
The $235 million hotel-casino project is scheduled to be finished by the summer of next year.