Complex sentence: In June 2008, the "The New York Times" reported that it would cost $50--$70 million to build, but it cost nearly $1 billion with combined rates of land on which it was built.
Split into simpler sentences: In June 2008, the "The New York Times" reported that it would cost $50--$70 million to build. But it cost nearly $1 billion with combined rates of land on which it was built.