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<br />Box 106 ma 405
<br />building evaluation report. The Vero Mall was built in 1978 and closed in early
<br />1998. It is SCP's opinion that it will be very costly to convert this facility into the
<br />administrative center and if converted, the final result will not be the quality
<br />obtainable with new construction. We also believe the finished product will
<br />always look like a converted Mall rather than a well designed administrative
<br />center.
<br />A. To design and build a new facility of approximately 170,000 GFS the
<br />construction costs, we estimate, to be as follows:
<br />(We assumed a 3-storybuilding)
<br />1.
<br />Site Work
<br />$ 750,000.00
<br />2.
<br />Structure
<br />$ 3,308,800.00
<br />3.
<br />Exterior Walls/Windows/Doors
<br />$ 1,026,000.00
<br />4.
<br />Roof
<br />$ 190;000.00
<br />5.
<br />Interior Finishes
<br />$ 5,100,000.00
<br />6.
<br />HVAC
<br />$ 2,380,000.00
<br />7.
<br />Plumbing/Fire Protection
<br />S 1,670,000.00
<br />8.
<br />Electrical/Security
<br />$ 3,200,000.00
<br />Interior Finishes
<br />Sub Total
<br />$17,624,800-00
<br />9.
<br />Contingency @ 10%
<br />$ 1,762,480.00
<br />2,380,000.00
<br />Sub Total
<br />$19,387,280-00
<br />10. Purchasing/Warehouse Bldg.
<br />@ $60.00/SF (35,000 SF) $ 2,100,000.00
<br />Total $23-487.282M
<br />0.00
<br />B. To renovate the existing 170,000 GSF Vero Mall for conversion to the
<br />Countv Administrative Facility we estimate the costs to be:
<br />0.
<br />Demolition costs for existing Interior Const.
<br />$
<br />1,360,000.00
<br />1.
<br />Site Work
<br />$
<br />750,00.00
<br />2.
<br />Structure (Hurricane Bracing)
<br />$
<br />350,000.00
<br />3.
<br />Exterior walls (openings for windows)
<br />$
<br />800,000.00
<br />4.
<br />Roof 0 70,000 GSF) + patching holes
<br />$
<br />425,000.00
<br />5.
<br />Interior Finishes
<br />$
<br />5,100,000.00
<br />6.
<br />HVAC
<br />$
<br />2,380,000.00
<br />7.
<br />Plumbing/Fire Protection
<br />$
<br />1,600,000.00
<br />8.
<br />Electrical/Security
<br />$
<br />3,060.000.00
<br />Sub Total
<br />$15,825,000.00
<br />9. Contingency @ 12%
<br />Sub Total
<br />10. Purchasing/warehouse bldg.
<br />@ 60.00/SF (35,000SF)
<br />Total
<br />$ 1,899,000.00
<br />$17,724.000.00
<br />$2,100,000.00
<br />$19.824.000.00
<br />The estimated cost per square for 170,000 GFS of new construction is
<br />$19,387,280.00 or $114.04/SF. The estimated cost for renovating the Mall is
<br />17,724,000.00 or $104.26/SF.
<br />The price to renovate the Vero Mall is exclusive of purchase price for the Mall and
<br />its acreage and the price for new construction is also exclusive of land costs.
<br />In addition, the professional fees for renovation work usually run in the 9-11 % of
<br />construction costs while the fees for new work are in the 6 to 7% range. This
<br />difference (say 6.5% Vs 9.5%) or 3% is a substantial sum based on an estimated 18
<br />million of construction costs (± 540,000.00)
<br />In conclusion, SCP does not recommend that the Vero Mall be converted into the
<br />County Administrative Complex.
<br />July 28, 1998
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