Background OUC parking garage demolished by FDOT due to
the I4/408 Expressway Interchange expansion Settlement compensation between OUC & FDOT
from the impact of this expansion Lost of parking garage Impact to operations, customers and employees Relocation of employees and departments to other OUC
facilities and leased a building in downtown
OUC needed to evaluate and select available real estate options and sites to accommodate OUC’s space program requirements
Evaluated Options
Refurbish existing Adm Bldg and build a new parking structure
Build new bldg and parking garage at existing OUC’s site (west of existing bldg)
Build new bldg and parking garage on other OUC’s property (Lake Highland site)
Build new bldg on purchased property Purchase an existing building 3rd party development (partial ownership of a
building/garage) Sell or lease existing building
Evaluated Options
Hard construction costs Site work Building structures MEP TI
Site acquisition (Owned or Purchased opportunity) Parking
Parking with garage (detached from building, under building, surface) Soft costs
Design/Permitting Misc. fees Temporary relocation
LEED certified building Other owner costs
IT Hook up Moving Owners Representative fees
Project Partners
Select PBS&J as Owner’s Representative As the “go to” consultant Assist in the writing of the Architect Statement of
Qualification (SOQ) Assist in the evaluation of all available options Assist in the execution of the selected option
Select Real Estate Research Consultants to perform financial model
Project Partners (Cont’d)
Baker Barrios Architects – Core & Shell Hunton Brady Architects– Interior TLC Engineering - MEP SKANSKA USA/JCB – GC GAI – Civil Engineers
Summary of Project CostsOption Project Cost
Refurbish Existing Bldg $31,059,440
New Building on Existing Site $32,819,000
New Building on Existing Site with Third Party Developer
Approximately
$29,000,000
OBT & 50 – McNamara Pontiac $30,172,000
500 E. Princeton $27,167,000
Lake Highland $29,515,000
Parramore $35,366,000
Developer Offer (Kuhn) $35,947,000
Construction Management at Risk
SKANSKA USA/JCB Delivered pre-construction services such as schedule,
budget and constructability reviews Centralize responsibility for construction under a single
contract Subcontracted the work and guaranteed the cost and completion
of project Contractor fee based as part of the building design Contractor provides a price with a maximum cap at the
90% design point At the completion of design, the contractor agrees to
construct at the agreed price or OUC can go back out to bid
Challenges
Boone Avenue Extension Parking Structure Efficiency Loss Two Additional Stair Tower Stops Four Additional Elevator Stops Additional Elevator Lobby Finish Additional Exterior Cladding Speed Ramp Access Program Growth 11,644SF Total Cost Impacts by City $1,376,183
Project Budget January 07 March 07
Original Project Budget $32,819,000 $32,819,000 Budget Correction 891,703 891,703 Construction/Material Escalation 2,018,068 2,018,068 Boone Blvd Extension 1,376,183 1,376,183 Renewable Energy Systems 1,246,902 1,431,842 Building Program Increase 1,663,336 1,663,336 Unique Building Features 2,426,969 3,380,589 Core/Shell – Design Mod/Hard Bid Inc 1,500,000 TI – Design Mod/Hard Bid Reconcile Inc 630,810 Direct Costs by owner Inc 1,538,469
Design, Asbestos, Furniture, Insurance OUC/Design Contingency Inc 650,000 Subtotal $42,442,161 $47,900,000 Tax Credit / VE Items ($ 1,000,000) ($ 1,100,000) Target Project Budget* $41,442,161 $46,800,000
* Approx. $10,000,000 will remain from the FDOT Taking of the Garage
General Information 128,000 square feet – 1st floor Customer Service, 1-
6 parking, 7-10 office Connected to OUCooling and use of OUConvenient
lighting Public Building 15,000 Customers though the building per month 3 Drive through payment service lanes 345 Employee work spaces at move in 355 Garage parking spots 45 surface customer and visitor parking spots Approximately 10,000 square foot available for
growth past 5 year plan
Why LEED Certification?
Energy efficiency and water conservation have always been a priority and OUC is setting an example for all future developments by being the greenest building downtown *LEED Gold Certification is approximately 6%
of building costs
Project Budget
Base Building (Core & Shell) $20,995,163 Design & Permitting 2,519,649 Site selection / feasibility 400,000 Parking 7,200,000 Renewable energy & water / conservation 1,431,842 Unique building features 3,380,589 Interior improvements 6,400,610 Furniture & loose walls 2,672,147 Information Systems equipment 600,000 Asbestos removal & demolition 1,200,000
of existing building Total $46,800,000
Renewable Energy & Water / Conservation
Leadership in Engineering and Environmental Design (LEED) Solar Electric Panels Solar Hot Water Panels OUCooling High Performance Glass Cistern for Roof Water Collection Raised Floor Design High Efficiency HVAC System Recycled & Low Volatile Organic Compound (VOC)
Emitting Materials
Designed for a LEED Gold Rating
OUCooling
Connected to OUCooling Saves up front capital Great environmental performance.
OUCooling operates 10% to 20% more efficient than a stand alone building chiller systems
No maintenance or annual contract worries
High Performance Glass
Clear Glass for Maximum Light Winter U value – 0.29 Shading Coefficient – 0.27 Solar Heat Gain Coefficient – 0.23 Allowed for daylight harvesting LEED point
Cistern for Storm Water Collection
30,000 gallon cistern to collect storm water from the buildings roof
System designed to meet 95% of irrigation needs (Landscape designed for low water needs)
Circulating filtration system to look like a fountain
Raised Floor Design
Tate Raised Floor 14 inches off of the floor Allowed for the floor to ceiling height to be reduced All electrical and HVAC is under the floor system Allows for cleaner air and more localized temperature control Allows for re-configuring work areas at a very low cost HVAC is Johnson Controls-York equipment installed by S.I. Goldman
High Efficiency HVAC
All major HVAC components are equipped with variable speed drives
Energy recovery is provided for Ventilation Air reducing impact on cooling load
Recycled & Low Volatile Organic Compound (VOC) Emitting Materials
Utilized these materials where possible.
Owner Needs and Goals
OUC needed and wanted to build a building that will be an example to others
Our goal was to build a Gold rated building that had carefully selected points for the right reasons
We were also willing to make the “right choices” even if it did not achieve a LEED point