New info on construction costs of proposed garage

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New info on construction costs of proposed garage

Postby Kevin » Mon Mar 13, 2006 7:18 pm

Thanks, Eben, that's very important info! Short answer: No clear demonstration of substantial savings as would be required for a bidding exemption. (Despite various major ambiguities and potentially shaky methodology in comparing these estimates.)

Proposed no-bid:
Construction cost per square foot: $46.33

RSMeans (average of median price bracket):
Construction cost per square foot: $46.20

$46.33 > $46.20, => no savings

(If there was a reasonable amount of time before the hearings tonight, I'd ask several specific questions about the estimating assumptions and methodology. And/or, what about simply comparing the cost per space, which can be understood without having to parse the methods? Would that make the proposed project look better or worse?)

The note also raises a possible additional question about the long term operating efficiently (esp. in operating labor cost per parking space) of a garage smaller than any the city currently operates.

Best wishes,

Kevin


On Mon, 13 Mar 2006 14:44:55 -0800, Eben Fodor wrote:
>
> -----Original Message-----
> From: LAURENCE Nan [mailto:NAN.LAURENCE@ci.eugene.or.us]
> Sent: Monday, March 13, 2006 1:02 PM
> To: *Eugene Mayor and City Council; TAYLOR Dennis M; CARLSON Jim R
> Cc: SULLIVAN Mike C; BRAUD Denny; CUTSOGEORGE Sue L; NOBEL Amanda R;
> WEINMAN Richie D; MUIR Susan L; MUNROE Ann L; MILLER Dawna A; BOHMAN Jan
> L
> Subject: Garage Cost Comparisons
>
>> Councilor Pryor,
>>
>> Below are construction cost comparisons for parking structures per
>> your voice mail request. The cost of building a parking garage is
>> typically described on a cost per space basis and on a cost per square
>> foot basis. Construction cost per space varies widely based on site
>> parameters, garage configuration and design, including the amount of
>> retail space relative to the number of parking spaces. Construction
>> cost per square foot is the most valid basis for comparing cost
>> efficiencies between parking structures.
>>
>> Based on the negotiations underway with Broadway and High and Gerding
>> Edlen, the proposed garage would have a construction cost of
>> approximately $46 per square foot. We compared this number to three
>> examples: the Pearl Street public parking garage if it were to be
>> constructed today, a public garage in Bend currently under
>> construction, and two industry standards. Our conclusion is that $46
>> per square foot demonstrates an overall construction cost efficiency
>> within the range indicated by these comparables. We are particularly
>> comfortable with this cost since this would be the smallest public
>> garage in the City's system, so we lose economies of scale, and
>> because we anticipate that this garage would be an attractive,
>> well-designed structure.
>>
> Nan Laurence
>
>
>> 1. PROPOSED City of Eugene Public Parking Structure
>> The construction costs are based on a multi-story, mixed use structure
>> with 260 spaces and 5,000 square feet of retail space, all above
>> ground.
>>
>> Construction cost per square foot: $46.33
>>
>> 2. Pankow - Pearl Street Public Parking Structure
>> After completing the competitive bid process, Pankow was selected as
>> the contractor for the Pearl Street Public Garage turn-key project
>> built in 1997. Pankow recently provided a construction cost estimate
>> on the cost of building the same garage in 2006. The 272 space garage
>> is a multi-story, mixed use structure with 3,750 square feet of retail
>> space, all above ground.
>>
>> Construction cost per square foot: $50.78
>>
>> 3. City of Bend Public Parking Structure - under construction
>> The general contractor provided construction costs for the garage that
>> will be completed this spring. The 551 space garage is a multi-story,
>> mixed use structure with 10,000 square feet of retail space. One level
>> of the structure is below ground.
>>
>> Construction cost per square foot: $52.59
>>
>> 4. Construction CPR
>> Construction CPR, an Oregon Construction Management firm, provided
>> information utilizing two industry standard construction estimating
>> sources: RSMeans and Marshalls Valuation Service.
>>
>> The costs are based on building a parking structure with similar
>> features to the Pearl Street Public Garage. The main features
>> include: multi-story, mixed use structure with retail space, all above
>> ground.
>>
>> RSMeans: Construction cost per square foot: $46.20
>> (average of median price bracket)
>>
>> MVS: Construction cost per square foot: $36.79
>> (average of median price bracket)
>> MVS: Construction cost per square foot: $76.60 (upper
>> end historic cost)
>>

--
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