New Waltham High School at Current Site Could Cost $283.5 Million

WALTHAM, MA – Building a new Waltham High School at the existing site could cost as much as $283.5 million, with the city – and its taxpayers – picking up $171.4 million of the tab.

Of course, all of this is conjecture, as the actual cost will depend on where the city decides to build, the final design and competitive bid results. But the preliminary estimate laid out a special city council meeting Monday night has the project clocking in as the most expensive in state history.

The city is eligible for a Mass School Building Authority (MSBA) grant to the tune of about $112.1 million, leaving the remainder to be paid by Waltham taxpayers through a bond issue.

Waltham would be allowed to reduce that debt through a property tax increase over a period of 30 years. Of note, while Somerville residents had to vote to exempt $130.3 million from the limits of Prop. 2 1/2 to fund their newly approved high school, Waltham does not need to override the statute.

If the actual cost of the project falls in the vicinity of initial estimates, Waltham's new high school would surpass Somerville's as the most expensive in Massachusetts history.

Photo Credit: Alex Newman/Patch Staff