Construction approved for new 49ers stadium

Posted by IronPlanet on Dec 15, 2011 4:21:00 AM

The Santa Clara Stadium Authority has voted to approve an $850 million loan, which would go toward the construction of a new stadium for the San Francisco 49ers. The 49ers are hoping to move to Santa Clara in the near future, with plans for a new $1 billion complex already well underway.

The last piece of the puzzle is for the NFL to step in and fund the final $150 million of the project, which will require a vote from the owners. Most believe that the deal will get done, but the question is when. Optimistically, the plan is for the 49ers to be in their new home for the 2014 season, but that could potentially slip to 2015 depending on how fast the process moves, reports the San Francisco Chronicle. This will be a large project, as the stadium's website projects the new facility to be 1,850,000 square feet, with a total seating capacity of 68,500.

When construction companies bid on big projects like this, the key is keeping the cost of doing business lower than competitors. One way to score an advantage is by buying used construction equipment off IronPlanet. Items marked with the IronClad Assurance symbol include a detailed point-by-point inspection report, so buyers know exactly what they're getting when they bid. However, the auction nature of the site still allows them to get great deals compared to the cost of buying the equipment new.

Topics: Construction, Industry Headlines