The much-needed and quite impressive renovation of the New York Aquarium in Coney Island is being “watered down because of soaring costs,” according to Jotham Sederstrom in today’s Daily News. Earlier this week, Sarah Ryley of the Brooklyn Daily Eagle broke the story that the renovation had been put on the back burner because of cost and competition for funds with a new shark exhibit. Mr. Sederstrom reports that cost estimates have “swelled from $125 million to $200 million.” Here’s a bit of his detail:

Nearly a year after Philadelphia-based firm Wallace, Roberts and Todd was chosen to redesign the 51-year-old aquarium in Coney Island, officials said a shrinking budget may only allow for a new shark exhibit. “The best way to say it is, in terms of priority, the shark exhibit comes first,” said a source close to the project. “As for the rest, we don’t know what that’s going to cost, and that’s what’s holding up the shark exhibit.”

More to come, we suspect.