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Vol. 25 No. 8 CONSTRUCTION COST CASE STUDY
The costs for this case study are from a project that IVI has monitored on behalf of a lending institution.
August 2010
Project
Senior Housing
Sarasota, Florida
Senior Housing, Sarasota, FL
Size 72,000 SFG; 85 units; three (3) 3-story buildings with on-site parking for 95 cars
Site 1.3 acres
Schedule 12 months
Delivery Stipulated Sum
Labor Open shop
Outline Specifications
Site Grading, utilities, paving, and lighting
Foundation Cast-in-place foundations and slab-on-grade
Superstructure Wood frame with prefabricated wood floor and roof trusses
Facade Exterior insulation finish system (EIFS)
Roof Asphalt shingles
Finishes Painted drywall partitions and ceilings; vinyl tile in kitchens; ceramic tile in bathrooms; and carpet in all living areas and bedrooms
Elevators Three (3) 3-stop, hydraulic passenger elevators
Fire Protection Fully sprinklered
Plumbing Cast iron sanitary waste and vent piping; copper domestic water supply; and three (3) central gas-fired water heaters
HVAC Through-the-wall heat pumps in units and split HVAC system in common areas
Electrical 1,800 amp, 120/208 volt, 3-phase 4-wire service
Amenities Community room, library/recreation room, and laundry room
Direct Cost Synopsis
Trade Rounded Cost Cost
Per Unit
Cost
Per SF
Site Work 908,000 10,682 12.61
Subtotal Site 908,000 10,682 12.61
General Conditions (8%) 73,000 859 1.01
General Contractor Fee (5%) 49,000 576 0.68
Total Site 1,030,000 12,118 14.31
Concrete 119,000 1,400 1.65
Masonry 67,000 788 0.93
Metals 179,000 2,106 2.49
Carpentry/Drywall 2,055,000 24,176 28.54
Thermal/Moisture Protection 557,000 6,553 7.74
Doors/Windows 110,000 1,294 1.53
Finishes 382,000 4,494 5.31
Specialties 5,000 59 0.07
Elevators 251,000 2,953 3.49
Fire Protection 249,000 2,929 3.46
Plumbing 669,000 7,871 9.29
HVAC 239,000 2,812 3.32
Electrical 390,000 4,588 5.42
Subtotal Base Building 5,272,000 62,024 73.22
General Conditions (8%) 422,000 4,965 5.86
General Contractor Fee (5%) 285,000 3,353 3.96
Total Base Building 5,979,000 70,341 83.04
Total Rounded Direct Cost 7,009,000 82,500 97.00
Cost Distribution
Case Study Pie Chart

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