The white concrete curves of the Kennedy Center’s new pavilions soar above what’s still an active construction site in the center’s first major expansion in its nearly 50-year history. Unfortunately, as with many projects so sweeping in scope, the budget has also soared.

The project is now expected to cost $175 million, up from an original estimate of $100 million, and the center won’t have its official grand opening until September 2019, more than two years later than expected when the project kicked off in 2014.

David Rubenstein, chairman of the John F. Kennedy Center for the Performing Arts and co-founder of D.C. private equity giant The Carlyle Group LP (NASDAQ: CG), told press and key donors gathered Tuesday that the center will now work to raise a total of $250 million, up from $170 million raised so far.

(WBJ)