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For development of our pricing estimate, we utilized the following resources described in more detail below:

  • Historical Data

  • Internal Turner Resources

  • Chicago, New York, International and Denver Business Unit Preconstruction Collaboration

Estimating Resources

Cost Certainty

We have separately provided a high-level estimate of the costs separated by Site and Plaza, Below-Grade Parking, Office Tower, and Residential Tower. Site and Plaza, Parking Garage, Office, and Residential Tower costs are further broken out by major building systems including Structure, Enclosures, Mechanical/Plumbing, Electrical, and Fire Protection.

 

Assembly of construction costs into typical building systems provides both Turner and the Greyhound development team the ability to evaluate costs against recently-completed relevant projects as an initial barometer when design is still early in the process.

Historical Data

Using our extensive national database of cost history from similar completed projects, we establish a conceptual baseline budget that we can compare building system costs against for the Greyhound Block Development project as a high-level barometer to evaluate for gaps, double-up or inconsistencies in costs developed.  This data allows our team to drill into and verify multiple scenarios and options based on limited program and building information.

Turner Internal Resources

Turner Engineering Group

Utilizing Turner Engineering Group’s (TEG) in-house MEP, Structural and Exterior Enclosures estimating resources, we have developed our cost estimate based on engineered solutions for these major building components with unit costs input from local trade partners. Our specialty estimators often came to Turner with a background of previously working for trade partners in the market. They are true Subject Matter Experts and are keenly aware of the requirements that it takes to execute our projects. Since they came to us from the local market, they are also keenly aware of the labor resource constraints that our market faces and are able to factor this into their estimates and provide feedback to our teams. They have pre-existing relationships with national and local trade partners, engineers, and trade-specific material and equipment suppliers.

Through our Turner Engineering Group and Turner Technical Services we develop our own internal cost models for every component of the project.  This ability to develop costs early in the process with little design information provides value to the project and our clients.  It is important that we have the experience to develop construction costs independent of trade partner and market input at this stage.  While we are versed at development of costs with little information, trade partners typically price the risk of incomplete design into their costs at this phase, which may provide an inaccurate analysis of costs if solely reliant on trade-partner pricing at this phase.

The Turner Technical Services (TTS) team has 80 experienced professionals including architects, BIM engineers, civil and MEP estimators who are available 24-hours a day to support the project and our Greyhound Block Development preconstruction team. We have utilized our TTS team to provide quantification, development of sketch-up and Revit models, phased 3D site logistics and safety plans, and 4D models integrating schedule timeline into the building model.

Turner Technical Services

Chicago, NYC, International, and Denver Collaboration

In addition to the resources provided by TEG and TTS, the formation of our preconstruction team for the project includes leaders from our Denver, Chicago, New York, and International offices. This provides the opportunity to leverage the specific high-rise construction experience from other major metro areas, while integrating local building requirements, trade partner knowledge, and pricing.

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We will expand our local trade partner involvement as part of the RFP response process and cost estimate update.

Question 4

Please provide a high-level pricing estimate in form of the attached spreadsheet. This estimate should include costs for systems including structure, enclosure, Elevators, M, E, P, & FP.

In addition to performing our own internal estimates, we will engage the local trade community for validation of our assumptions on cost, schedule, and material availability. We do not depend on their information but use it as a means of validating our estimated costs. This outreach effort benefits the estimating process and generates early bidder interest.

Trade Partner Engagement

Third Level Below Grade Considerations and Cost Premium

Building the third level of below grade parking will have additional costs and presents unique challenges including an additional volume of excavating, as well as more area of shoring, deeper soldier beams, and additional lagging.

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While the shorter piers associated with an additional below-grade level slightly offset the cost increase, the following requirements factor into the cost premium.

  • Additional reinforced shotcrete creating the extended perimeter foundation walls.

  • Building core walls extend deeper down and will be 10 feet taller.

  • Plaza level columns are required to extend deeper and will be 10 feet longer.

  • Bottom floor slab will likely be in the water table, requiring extensive pumping and water treatment prior to release into the storm drain system.

  • Excavation will extend into the “Denver Blue” shale bedrock layer, requiring heavier equipment and a slower production rate.

  • A “bathtub” waterproofing system will needed to keep water out, and a permanent dewatering and treatment system may need to be installed.

The third-level parking garage premium will be approximately $12,250,313.

Question 4.a

We are intending to build the 3rd level of below grade parking; however, we would like to know the premium cost to build that lowest level

Below Grade Construction

Please see 1. Structure for a detailed consideration of Turner's hybrid top-down approach.

Question 4.b

Do you have a recommendation for below grade construction, i.e., top-down construction, phased excavation, etc.?

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