The new Medford High science labs have come in $1.8 million under budget, according to a Tuesday release from Mayor Michael McGlynn’s office.
The city received five bids on the project, ranging from roughly $8.4-9 million, according to the release. The contract was awarded to the low bidder, G&R Construction Inc. of Quincy.
The project is being funded by a grant from the Massachusetts School Building Authority at a 60 percent reimbursement rate. The city will pay the remaining 40 percent.
“Our savings is approximately $700,000,” McGlynn said in a statement, “and I am thrilled with the competitive environment we are currently experiencing.
“We hope this continues with other projects that are ‘shovel-ready,’ including Medford High School’s pool and the Department of Public Works building.”
McGlynn would like to see the $700,000 in savings go toward storm-drainage improvements in the Meetinghouse Brook area, which has experienced flooding in recent years that has affected hundreds of homes, according to the mayor.