Inflation is wreaking havoc with the budget for the North Park project.
Almost exactly a year ago, Oakville town council downgraded plans and upsized the budget for the new library, community and sports field development located at the corner of Dundas Street West and Neyagawa Boulevard.
Originally expected to cost $73 million, council bumped the budget to $106 million last June to cover rising construction and material costs.
A parking structure for the project, which will provide recreational facilities for the growing North Oakville community, was also abandoned.
Costs for the project have now risen to $130 million, with completion of the community centre and library delayed until mid-2025.
Town staff say the rising costs of high-dollar construction projects are due to labour shortages, supply chain issues and high inflation rates.
Connecting the new buildings to the existing Sixteen Mile Sports Complex has also added to the project's complexity.
The North Park project is funded 95 per cent from development charges, which are fees the town levies on new development to cover the cost of expanding community services.
Councillors approved the new budget for the facility at its meeting on June 19.
"This is something that's going to bring all of our community together, and I don't think just Ward 7. It's going to be all of Oakville," said Ward 7 councillor Nav Nanda.
"We're just excited about the great things that are happening ahead."
What to expect:
- The community centre and library construction will start in July or August and be "substantially complete" by the second quarter of 2025.
- Two sports fields (one synthetic turf, one natural turf) and the cricket pitch will be finished completed by the end of 2023.
- The remaining park amenities, including the skateboard park, bike pump track, splash pad, playground and fitness station, are due to be completed in late 2024.
- Phase three of the park, which will include four tennis courts, seven pickleball courts, three basketball courts, and four beach volleyball courts, is scheduled for completion in 2025, subject to council approving funding in the 2024 capital budget.