How much is my construction project going to cost?
When you are planning a construction project the first step is to establish a budget which can be difficult to do on your own. We can provide you with a Needs & Options report that will outline key aspects of your project, including:
-Project Requirements and Scope of Work
-Expected Project Challenges and Requirements
-Consultants required, such as:
- Surveying, Bylaw, Zoning and Planning,
- Architectural Design & Architects,
- Engineering – Civil, Geotechnical, Structural, Mechanical, Electrical.
- Specialists – Energy Efficiency, Renewable Energies.
-Capital Cost Budget and Allowances
-Next Steps
Needs & Options Reports are used to determine if a project is possible. This is the first step of any construction project and is known as a Feasibility Study or Concept Screening Study.
Typical Project Costs
Every project is different with varying project requirements. Some typical rates of construction are:
- Residential: $200 to $300 per square foot of gross floor area.
- Commercial: $275 to $350 per square foot of gross floor area.
- Institutional: $275 to $400 per square foot of gross floor area.
These rates are based on typical construction costs over the gross floor area and are subject to variances due to construction type, contractor’s fees and experience, global and local market forces, and the scope of work. These rates may be +/- 50% from actual construction costs however they are applicable for concept screening and feasibility of a project. They can be used to establish a preliminary budget for your project.
Contact Us
We can provide a specific Needs & Options report that will provide you with a preliminary plan, concept drawings, rendering and a capital cost estimate for your project. This phase is known as the Feasibility Study and is an important first step to any project to establish budgets, expectations and high level solutions.
