How were the cost projections developed?
The alternative approaches presented are only conceptual designs so budgets were developed using a cost model that took into account the amount of square footage to be minimally renovated, moderately renovated, substantially renovated and newly constructed. The cost model includes site development, asbestos removal, phasing, remodeling (light, medium, heavy), mechanical, electrical, plumbing (MEP), roofing, accessibility, code requirements, design and construction contingency. Estimates were then made for each of these categories as they applied to the conceptual schematic.
