I reached out to a friend of mine who owns a construction company and asked for his assistance in getting the cost for our project. I sent him our conceptual for him to understand what we were trying to construct. I had to give him our site size and the size of the building but he was able to give us the estimated costs for everything. We had forgotten about the site work for the alley and sidewalk but luckily it was not too much more…about $6100. We had also thought we could get away without having to put a sprinkler system in but he said we should plan on it so we did. We told him we wanted to just have the shell space for downstairs b/c we were not sure what the user would want to have as a build out and to what extent. He said the shell would cost about $50 psf and it would be a pretty nice finish out with another $40 psf. He said we need to plan on about $102 psf for the residential and that would get us a very nice finish out with granite countertops, wood floors and good tile work. This is more than what Dr. Forgey wanted however, since we are doing a for sale product vs. a for lease product, and we are targeting a higher cliental, we felt it was going to have to be higher end.
Peace out,
J2M
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