Quote:
Originally Posted by 240glt
re: Fed.. no surprises there. The project has been a fiasco since the get-go almost.
I like how in the article the minister notes that "The architect blames the contractor, & the contractor blames the architect".. no mention of the fact that it was actually the owner than caused a great deal of the overruns and delays
Clark's not blameless, but this mess resides primarily on the shoulders of Kasian and the Provincial Government
Said it before & I'll say it again.. releasing a project to tender in bid packages, especially on a complicated project is a recipe for disaster
Going to be great when it's done though
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for perspective, the following is a projected project analysis from 2003:
Federal Building Development Cost Summary:
Existing Building Retrofit 18,312,000
Town Homes 1,910,000
Parkade 2,200,000
Subtotal 22,422,000
Arch./Consulting 1,400,000
Legal/Insurance 100,000
Joint Venture Fee 100,000
Mortgage Fees 250,000
Marketing 500,000
Furniture 300,000
Finishes/Amenity Spaces 500,000
Subtotal 25,572,000
5% Contingency 1,278,600
Subtotal 26,850,600
Interim Financing @ 8% x 15m x .5 1,342,530
Subtotal 28,193,130
3% Development Fee 845,794
Total 29,038,924
granted it was a different scope of work - the proposed retrofit would have created high end rental residential units and not office space - but it was an interesting rfp response solution...