Cost to rebuild Baltimore's Key Bridge, toppled by cargo ship last year, expected to double

The rebuilding cost of Baltimore's Francis Scott Key Bridge has more than doubled, and has a new expected opening of late 2030.

The Key Bridge, which collapsed in March 2024 after being hit by a cargo ship, is now projected to cost $4.3 billion to $5.2 billion to rebuild, up from the previous cost estimate of $1.7 billion to $1.9 billion, CNN reported. The bridge was also originally expected to be completed by 2028.

“Preliminary cost and project time estimates were made less than two weeks after the initial crash and before any engineering or design studies were conducted,” Maryland Democrat Gov. Wes Moore said Monday.

“Since then, national economic conditions have deteriorated and material costs have increased. At the same time, elevated costs have resulted from federal design and resilience standards – not discretionary state choices.”

As many as 35,000 vehicles a day traveled across the bridge before the ship ran into one of its pillars, resulting in the death of six people. 

Maryland's acting Transportation Secretary and Maryland Transportation Authority Chairwoman Samantha J. Biddle gave a similar explanation about the higher costs and projected completion date.

“The updated cost range and schedule are directly correlated to increased material costs and to a robust pier protection system designed to protect the new Key Bridge and reduce the likelihood of a future ship strike to the bridge’s foundational piers.”