Building budget rises for Vancouver Olympics

The construction budget for the 2010 Winter Olympics in Vancouver is still $110 million over budget. The Vancouver organizing committee (VANOC) released its first quarterly report on June 14.
The construction of the various venues was originally budgeted in 2002 to cost $470 million, but earlier this year was revised to $580 million.
British Columbia’s booming construction market has driven up construction costs 40 to 50 per cent in the same period.