Nerves of Steel Needed as Firms Face Inflation, Broken Contracts and Price-Gouging

When Elmhurst Group, a Pittsburgh-area developer, collected bids for a new mixed-use building starting last November, the price of the steel frame, roof and cladding panels for the $14-million project came in $382,000 higher than expected, a big enough disappointment to give the company pause. Overall material costs for the project were running more than $650,000 above what was originally calculated.

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