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11 | DEVELOPMENT

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Construction Typology

Construction Cost Estimate

Construction of Sanctuary 6 includes five buildings and three occupancies. All efforts will be made to source materials locally and sustainably. Cost assumptions include that structures will be type V-A construction. The general material layout of the building is a fire-rated wood frame with an exterior skin of stucco and galvanized metal panels with standard internal furnishings.

The cost estimate to construct Sanctuary 6 is $9,909,030. This averages to $196.46 per square foot of building area and $173,104 per unit. This price consists of all materials, labor, overhead, and profit attributed to the four buildings and site area. Part of the land acquisition deal stipulates that all construction laborers will be part of a labor union increasing costs. All costing analysis is preliminary and will be further refined when project goes to bid. The RSMeans Online square foot estimator provided all pricing. Pricing figures are based on a 2011 model and are subsequently inflated to Q2 2016 numbers. Sanctuary 6 also assumes a premium for sustainable materials; despite their lower life-cycle cost, these materials tend to cost more to install than their less environmentally friendly counterparts. Figure 11.1 and Figure 11.2 outline the cost estimate in further detail.

FIGURE 11.1: CONDENSED COST ESTIMATE Building Type: Location: Story Count: Story Height (L.F.): Building SF: Lot Area SF: Labor Type: Basement Included: Data Release: Unit Count Cost per Unit Cost Per Square Foot:

Apartment, 1-3 Story with Wood Siding / Wood Frame San Luis Obispo, CA 3 11 38,769 sqft 59242 sqft STD No Year 2011 (Inflated to 2016) 44 $173,104 $196.46 / sqft

Building Hard Costs:

$7,616,562

Construction Timeline The construction of Sanctuary 6 will take approximately 14 months to complete. Construction will start once all permits are complete and the Notice to Proceed is issued. The four buildings will have staggered start dates to prevent the various trades from interfering with each other. This also allows subcontractors to limit their time on site thereby reducing overhead cost. For further details, refer to the schedule on Figure 11.3.

FIGURE 11.2: EXPANDED COST ESTIMATE

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2016 Sanctuary 6 Bank of America Low-Income Housing Competition Proposal  

This housing project won 1st place on a national level. The team consisted of 7 architecture students, 2 city and regional planning students...

2016 Sanctuary 6 Bank of America Low-Income Housing Competition Proposal  

This housing project won 1st place on a national level. The team consisted of 7 architecture students, 2 city and regional planning students...

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