# Apartment Building expansion



## gccch (Mar 30, 2015)

Hi all,

I am a Property Manager and owner of a mixed use building in a college town. There has been some recent large scale developments approved for adjacent property. So now the City is moving toward expanding parking allowing us potential for expansion of residential density. 

While I have managed to fully renovate this property and also managed a small expansion (equivalent of building a small home), I now have the potential to build a very large expansion, potentially 6 floors or even more. The development adjacent to us is planned for 13 floors. 

This will involve much more knowledge of building techniques, architecture, and more. Before I even contemplate this I was hoping someone here might be able to advise on estimating in rough terms how to estimate the cost per square foot for steel structure, brick face, modern construction of this sort? 

I can post more detail, or take this to another place. Just need some help getting started. 

Thanks,
Greg


----------



## slowsol (Aug 27, 2005)

Buy an RS Means manual. It will give your national averages for construction cost with a location multiplier to get you in the ballpark.

Then find a GC that does this everyday. Don't try to build this yourself.


----------



## rwa (May 6, 2009)

gc, first off, let us know where you are located. There are a few here who can help.


----------



## gccch (Mar 30, 2015)

rwa said:


> gc, first off, let us know where you are located. There are a few here who can help.


Our building is in Bethlehem, pa. Eastern part of the state.


----------



## gccch (Mar 30, 2015)

slowsol said:


> Buy an RS Means manual. It will give your national averages for construction cost with a location multiplier to get you in the ballpark.
> 
> Then find a GC that does this everyday. Don't try to build this yourself.


Thanks. I will not attempt this as a GC. Figuring out how I want it done will be enough of a challenge. That is, if I can justify it.


----------



## rwa (May 6, 2009)

First off you will need to do a financial model to see what you can afford and discuss financing options. Should you need one let me know and I can provide the format.

We are currently in the development study phase of a wrap, 3 story, student property (Dallas-Ft Worth), density 74.57 units per acre, 224 units, 708 beds, 258,588 sf rent-able, 302,800 total sf, above ground garage parking. All in for $54,977,037.00. We will have the land plus $548,600.00 of indirect costs invested before we start construction.


----------



## gccch (Mar 30, 2015)

rwa said:


> First off you will need to do a financial model to see what you can afford and discuss financing options. Should you need one let me know and I can provide the format.
> 
> We are currently in the development study phase of a wrap, 3 story, student property (Dallas-Ft Worth), density 74.57 units per acre, 224 units, 708 beds, 258,588 sf rent-able, 302,800 total sf, above ground garage parking. All in for $54,977,037.00. We will have the land plus $548,600.00 of indirect costs invested before we start construction.


Well, that is a significant project. Coincidentally, your overall cost is about what our new neighbor will spend on 13 floors. I have a financial model but have no idea what the costs to build will be. The income side I am prepared. It is an addition to a current building which will require some modifications.


----------

