PERFORMANCE ARTS CENTER (PAC) COST COMPARISON
Public Hearing 6 February 2020
City Estimate Fennesy Consulting ICON/Harvey Construction
: : Fennessey Consulting Svc. ‘
Tim Cummings Perfonnance Arie/Events Genter Presented to PAC Steering
July 2017 Memo Feasibility Study Report Committee on January 2, 2020 Notes
(to Donchess, BOA, etc.) Jan 11, 2017 (Option 2)
Construction Cost $11.5 million $16.4 million Pre Harvey Constr. "informal" estimates (Feb 17, 2017)
(incl. markup, o'head (30,840 sq. ft.) 56,840 sq ft = $288/sq. ft Leiner (1) Full: $15.0 million (42,840 sq. ft.)
: 2 : : sq. Tt. 7 s = sg. = : . ; . fe
contingency and fee) 4 : _ 54,576 sq. ft. = $278/sq. ft. (2) Reduced: $10.4 million (30,840 sq. ft)
eupioN sue) Wieetiea! $1 million $1.7 million to 2.1 million* 2.3 million * Fischer-Dachs memo Jan 4, 2017
Equipment & Seating
Misc. _ _ 0.7 million pre-design sve., data network, secure cameras, phones,
furniture, computers, signage,etc
Architect fees $1 million — 1.3 million
7 oie theatre options, e.g. roof terrace, audience movable
einiers Gonungency ~ a $1 million partition; changes; hazardous waste, etc.
Land/Building Acquisition $2 million --- $2 million Formerly Alec's Shoe Store
PAC Cost $15.5 million $22.5 million $7 million above $15.5M city bond
Street Improvements & _ oa $1 million estimated
Elec. Utility Relocation (could reach $2 million)
Endowment Fund ae ree ae **Spectacle Management requires no
(Private Funding) ome ~ temnullton subsidy for operation
PAC Budget $19.5 million 24.7 million $9.2 million above $15.5M city bond
i i sete *** Duncan Webb study:
Tiered Seating - 550 790 --550 seating/500 tables & chairs/1,000 standing
; a. --Retail & Restaurant on 1st floor.
Standing ta 1000 1,000 --Theatre on 2nd floor
Total Area 30,840 sq. ft 56,840 sq. ft. 54,576 sq. ft.
Note Theatre construction costs can range from around $200 per gross square foot to more than $400 per gross square foot
depending on the aspirations of the owner and the project designers.
Note Objective: $2.5 million donations + $4.5 million NMTC = $7 million private funding.
$4 million private funding required under R-18-001, R-18-092 and R-20-001
Fred S, Teeboom Feb 1, 2020
Note: Fennessey Options:
$16.4 million
Option 1 Alec Shoe Store 56,840 sq. ft $288 /sq. ft
Option 2A Court Street (Reduced) 33,884 sq. ft $9.1 million $269/sq. ft.
Option 2B Court Street (Full) 40,560 sq. ft $13.9 million $343/sq. ft | Savings: $2.5M construction + $2 M building + $1M external = $5.5 million
Option 3 Spring Street (new) 32,593 sq. ft $17.0 million $522/sq. ft
