SQUARE FOOT COST ESTIMATE



Lisa Bornemann, Lighting / Electrical

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Independence Visitor Center Dr. Moeck

Philadelphia, PA September 23, 2002

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Existing Construction Conditions

Executive Summary

Some of the information necessary for the completion of the existing construction conditions was not complete, so there were some gaps due to waiting for information to arrive. I am currently waiting on a list of general trades contractors that had separate contracts with the owner and a list of the sub-contractors used. I believe that when the construction manager is on the job in this case, there are no contracts between the construction manager and any sub-contractors. The construction manager helps the owner choose which general trades contractors to use and sub-contractors have contracts with each of the general trades’ contractors. This is something that I have to verify. It seems that the main contract types used were GMP and Lump Sum. Is this often the case?

The design of construction of the Independence Visitor Center spanned 3 years and 6 months. The design stages and construction documents took more time than did the actual construction. I had received a schedule with the most important points during the design and construction, so only these are shown on my schedule.

After analyzing the actual cost and performing two cost estimates, I realized that the visitor center’s cost in very high in comparison to most other buildings of comparable square footage, 54,000s.f. The building type is not a close match to any of the available building types used in each of the estimating methods. The systems cost in the visitor center are especially high for multiple reasons. There are two theaters that need specific systems and two large exhibit areas which also require specific systems. The security is high in this building due to the temporary exhibits that come to the visitor center as well as it being part of Independence Mall. I did make adjustments to each estimate; however, the results were still far off from the actual values.

Square Foot Cost Estimate

R.S. Means 2002 Data

Area: 54,000 s.f.

Perimeter: 1000 l.f.

Perimeter Adjustment:

Interpolate: 50,000 = 644 54,000 = 675.20

55,000 = 683

Interpolate: 50,000 = 1.95 54,000 = 1.75

55,000 = 1.70

Adjustment Factor = 1.75 x (1000-675.20)/100 = 5.68

Cost per Square Foot:

Interpolate: 50,000 = 103.20 54,000 = $102.76

55,000 = 102.65

Adjusted Cost per Square Foot = $102.76 + 5.68 = $108.44

Size Factor:

Proposed Building Area = 54,000 = 1.62

Typical Building Size 33,400

Cost multiplier from Chart = 0.95

Location Factor:

Philadelphia, PA = 1.11

Historical Cost Factor:

2002 = 139.9 136.9 = 0.98

2001 = 136.9 139.9

Cost:

54,000 x $108.44 = $5,855,760

Common Additives:

3 – Hydraulic Passenger Elevators: $44,625 each

Total Cost:

Adjusted for Elevators: $5,855,760 + 3(44,625) = $5,989,635.00

Adjusted for Size: $5,989,635.00 x 0.95 = $5,690,153.25

Adjusted for Location: $5,562,972 x 1.11 = $6,316,070.11

Adjusted for Time: $6,316,070.11 x 0.98 = $6,189,748.71

Total Cost = $6,189,748.71

Lisa Bornemann, Lighting / Electrical

[pic]

Independence Visitor Center Dr. Moeck

Philadelphia, PA September 23, 2002

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Project Cost Evaluation

Actual Costs

Design Costs: $2,800,000

Building Construction Costs: $18,866,878

Total Costs: $21,666,878

Major Building Systems Costs:

|Building System |Total System Cost |Cost per Square Foot |

|Electrical |$1,931,690.00 |$35.77 |

|Mechanical |$1,876,042.00 |$34.74 |

|Structural Steel |$1,433,287.00 |$26.54 |

|Cast-In-Place Concrete |$1,020,683.00 |$18.90 |

|Building Enclosure |$2,716,367.00 |$50.30 |

* Note: Building Enclosure includes masonry, entrances, and storefronts.

Cost Comparison

| |Total Project Cost |Cost per Square Foot |

|Actual |$16,318,192.00 |$302.19 |

|R.S. Means Estimate |$6,189,748.71 |$108.44 |

|D4 Estimate |$11,233,757.00 |$208.03 |

As the following pages will show, there is a large difference between the actual cost of the Independence Visitor Center and the estimated costs. The main reason for this is that the building type did not match any of the choices well for either of the estimates. For the Square Foot estimate, I chose to compare the visitor center to a college student union. My reasoning being that the Independence Visitor Center has comparable spaces to The HUB, which is a college student union. The square foot costs are significantly higher than those listed in either the Means Catalog or the D4 example In the D4 example, I adjusted the electrical, mechanical, and number of elevators to come up with a closer value. The building I compared it with did have a brick façade and steel framing like the visitor center. But the other system costs were much lower. The costs of the building systems in the visitor center are very high. The visitor center has certain specific use spaces that increase the cost of the systems. There are two theaters, two large exhibit spaces, and since it is a historical visitor center with important temporary exhibits such as the current exhibit of the original Magna Carta, security must be high therefore raising the cost. The cost of the visitor center is much higher than buildings comparable in size.

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