Existing Construction Conditions

Timothy R. Nolan
Mechanical
The BondStreetWharf
Baltimore, Maryland
Resubmitted, December 13, 2002

Existing Construction Conditions

Executive Summary

The BondStreetWharf’soriginal cost was $20 million. This was inflated by 5% to $21 million by the end of the project for extra work done and by unforeseen conditions. Using Meanscost data for a cost analysis I calculated a total of $20.1 million. This is an accurate estimate because this matches the original estimate for the building. Conversely, I used the D4 cost 2002 and calculated a total of $33 million. This is $12 above the final cost of the building. One major difference is the total mechanical cost. The total mechanical cost for the building came out to $3,500,000, while the D4 estimate was $6,038,227. This is a difference of over $2.54 million. If this number is this far apart than other like electrical, finishes and metal (structural steel) may also be off.

Project Delivery System

The owner hired an AE firm RTKL Inc. to overlook the project. Than RTKL architects hired the rest of the design team. They hired the civil engineers, STV Inc., Landscape Designers, Mahan Rykiel Associates Inc. and the general contractors, Struever Bros. Eccles & Rouse, Inc.. The general contractor than hired the sub-contractors with lump sum with reimbursable contract. See page 6 for project delivery system diagram.

Schedule Summary

The total length of the project was 1 year 10 months. The job started on January 1st 2001 and was occupied in October 2002. The foundation was started in July 2001 and done in the end of September 2001. The structure started around a month and a half after the start of the foundation. There were many caissons that needed to be in place before the structure was erected. Enclosure of the building took place around February 1st 2002. Finally finishes started in May 2002 and finished up as the building was being occupied. See page 7 for schedule.

Timothy R. Nolan
Mechanical
The BondStreetWharf
Baltimore, Maryland
Resubmitted, December 13, 2002

Project Cost Evaluation

• ActualBuilding Construction Cost: Approx. $17.5 million, $80.31/sqft
• Total Project Cost: $21 million, $96.37/sqft.
• Major Building Systems Costs:

HVAC & Plumbing: $3.5 million, $16.06/sqft.

Raised Floor: $650,000, $2.98/sqft.

Electrical: $1.23 million, $5.64/sqft.

Elevators: $500,000, $2.29/sqft.

• Design Cost:

Mechanical/Plumbing: $850,000, $3.90/sqft

Electrical/Telecommunications: $ 1.05 million, $4.82/sqft.

Structural: $1.1 million, $5.05/sqft.

• Means Cost Data is on page4.
• D4 analysis is on page 5.

The D4 cost analysis differs from the actual cost by $12 million dollars. Two reasons that this has happened is because there wasn’t an exact match for my building and the buildings I compared mine to were more expensive. On the other handMeans cost data was closer in cost. It was 4.3% lower than the actual cost. The Means cost data is a more accurate estimate for my building.

Timothy R. Nolan
Mechanical
The BondStreetWharf
Baltimore, Maryland
Resubmitted, December 13, 2002

RTKL Cost Data

Timothy R. Nolan
Mechanical
The BondStreetWharf
Baltimore, Maryland
Resubmitted, December 13, 2002

Means Cost Data

Calculations:

1. Interpolation for square footage.

(250-216) / (250-200) = (87.6-x) / (87.6-89.25)

x = $88.72 per square foot

1. Multiplied by the square footage.

Total square footage: 216,000

$88.72 * 217,919 = $19,333,773

1. Additives:

4 – 3500lbs Elevators @ $107,400 = $429,600

20 – Duct smoke detectors @ $405 = $8,100

Total with Additives: $ 19,771,473

1. Total times Location factor:

Baltimore, Maryland = .91

.91 * $19,601,220 = $17,992,041

1. Times Historical factor:

Baltimore, Maryland in 2001 = 111.7

1.117 * $17,837,110 = $20,097,109 = Final Cost, $92.22/sqft.

Timothy R. Nolan
Mechanical
The BondStreetWharf
Baltimore, Maryland
Resubmitted, December 13, 2002

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