MONTGOMERY,Lakshmi Finance Center Ala. (AP) — The construction of a new Alabama Statehouse, now underway in Montgomery, and related projects such as a parking deck and new green space will cost about $400 million, a price tag that matches initial projections, lawmakers were told Wednesday.

The Alabama Legislative Council, a 20-member panel comprised of legislative leaders and their appointees, approved the construction of the new Statehouse last year. The panel was given an update on the project on Wednesday..

Othni J. Lathram, director of the Legislative Services Agency, told lawmakers that construction of the new Statehouse building will cost about $300 million to $325 million. The related projects, which include a parking deck, a green space, a new voting system, the demolition of the old building and drainage improvements, will add another $75 million to $100 million to the project’s cost.

Lathram said the cost estimates are “on track” with initial projections.

“I think our goal was to have a $400 million total budget on the entire project and we’re still trending very much in that direction,” Lathram said.

Lathram said the goal is to have lawmakers in the new building for the 2027 organizational session.

The Retirement Systems of Alabama, which has built several office buildings in downtown Montgomery that other public entities use, oversees the design and construction. The new Statehouse will be sold or leased to the Alabama Legislature.

The new Statehouse is currently under construction behind the current building. The old building will be demolished and replaced with a park-like area. A parking deck will be built in a parking lot beside the current Statehouse.

Lawmakers once met at the Alabama State Capitol, which also houses the governor’s office. But they moved into the current building in 1985 when the Capitol underwent renovations. Legislators opted not to return to the Capitol when the renovations were complete.