Update An updated $7,450,000 construction cost estimate prepared by HMS, Inc. based on the Design Concept Study prepared by Bettisworth Welsh Whitely, LLC has been received.  From this most current information, a Total Project Cost Estimate  of $11,997.681, (rounded up to a target budget of $12 million ) has been developed and includes cost for project management, design, construction, and furnishings.

Ketchikan Public Library Total Project Cost Estimate - 09/23/2010

Ketchikan Public Library Construction Cost Estimate - 09/07/2010

A preliminary cost estimate was provided to the Feasibility Committee based on Options “A” and “B” of the space planning model used in determining the “right size” for the new library facility.

Further refined cost estimates will be developed based on findings of the Design Concept Study and completion of Schematic(35%) Design phase.

Approximate construction cost for a new library in 2010 dollars is $450 per SF.

This estimate of $450 per SF Represents:

  • High grade commercial quality construction and materials suitable for a public facility.
  • Finishes that are durable and easily maintained
  • A facility that is energy efficient.

Indirect costs will add roughly 35% to the project cost with the following approximate break-out:

Cost Breakout Table

With indirect costs included, total project cost in 2010 dollars is $608 per square foot. Inflation is difficult to estimate, but is likely to be in the range of 3% per year.  If two years of inflation are assumed, 2010 project costs would be $644 per square foot.

The preliminary Project Cost Estimate of $12,000,000 consists of the following:

Preliminary Cost Estimate