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Before the start of the design process in March 2009, an independent construction estimator, C.P.
O'Halloran Associates, Inc., prepared a Preliminary Concept Cost Estimate. The estimated cost of
construction at that time was $107,633,286 without contingencies. With the addition of estimated
design, project management, environmental documentation, ancillary costs including furniture, the
preliminary budget was $140 million. During the subsequent design process, the design team, staff, and
the Building Committee meet regularly to guide the project. A significant part of those periodic
meetings was exploring ways to reduce potential costs through value engineering and phasing. At the
November 10, 2009 Council meeting, staff shared the current costs. At that meeting staff shared the
possible scenarios from conservative to very optimistic. The very optimistic estimates envisioned: being
able to sell or give away the dirt from the excavation at a savings of $4 million; an additional 10%
reduction for a better bid environment of $9 million; additional value engineering at $5 million; and
phasing the bridge and North Park parcels for a later project at $7 million. Additional cost estimates
were run at each stage of the project design. At the conclusion of the Design Development phase, April
2010, another estimate by the same firm showed the construction cost to be $102,779,710. Another
estimate in October 2010 by C. P. O'Halloran showed the cost to be $103,816,895. C.W. Driver also ran
an independent estimate in October 2010 and their projected cost was $106,796,863. Despite our
wishful thinking, the final bid totaled $106,504,125 which was very close to the preliminary estimate in
2009.