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Vol. 26 No. 2 CONSTRUCTION COST CASE STUDY
The costs for this case study are from a project that IVI has monitored on behalf of a lending institution.
February 2011
Project
LIHTC Apartment Complex
Riverside, California
LIHTC Apartment Complex, Riverside, CA
Size 160-Units, 15 2-Story Buildings; 190,000 SF
Site 14 acres
Schedule 13 months
Delivery Stipulated Sum
Labor Open Shop
Outline Specifications
Site Earthwork, irrigation, fencing, utilities, landscaping, flatwork, and 238 parking spaces.
Foundation Concrete foundation walls, footings and slab on grade.
Superstructure Pre-fabricated wood floor and roof trusses supported by conventional wood framing.
Facade Horizontal fiber-cement siding and cultured stone.
Roof Asphalt shingles.
Finishes Painted drywall partitions and ceilings through-out. Ceramic tile flooring at entrances, kitchens, dining rooms, and bathrooms; carpet at bedrooms and living rooms.
Plumbing PVC sanitary waste and vent piping, copper tubing domestic water supply with individual water heaters.
HVAC Electric split-systems with individual exterior air-cooled condensers.
Electrical 900 amps, 120/240-volt, single-phase, 3-wire service for each building; individual metered units provided with 125 amp service.
Direct Cost Synopsis
Trade Rounded Cost Cost
Per Unit
Cost
Per SF
Site Work 1,313,000 8,206 6.91
Excavation/Foundation 342,000 2,138 1.80
Subtotal Site 1,655,000 10,344 8.71
General Conditions (10%) 166,000 1,038 0.87
General Contractor Fee (3%) 55,000 344 0.29
Total Site 1,876,000 11,725 9.87
Concrete 1,986,000 12,413 10.45
Masonry 512,000 3,200 2.69
Metals 63,000 394 0.33
Carpentry/Drywall 4,193,000 26,206 22.07
Thermal/Moisture Protection 614,000 3,838 3.23
Doors/Windows 814,000 5,088 4.28
Finishes 1,047,000 6,544 5.51
Specialties 62,000 388 0.33
Cabinets/Appliances 675,000 4,219 3.55
Plumbing 1,478,000 9,238 7.78
HVAC 619,000 3,869 3.26
Electrical 947,000 5,919 4.98
Subtotal Base Building 13,010,000 81,313 68.47
General Conditions (10%) 1,301,000 8,131 6.85
General Contractor Fee (3%) 429,000 2,681 2.26
Total Base Building 14,740,000 92,125 77.58
Total Rounded Direct Cost 16,616,000 103,850 87.00
Cost Distribution
Case Study Pie Chart

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