AgdaPkt 2013-09-23 Closed and Regular

Browse Search

8.A. -Page 458 E.J. POLATICONSTRUCTION Lic# 439210 March 22, 2013 To: Laurel Way Join Venture Re: Hillside building costs and sales prices Dear Mr. Haner: I have been a licensed general contractor since 1983. 1 have significant experience constructing residences in hillside neighborhoods as well as in Redwood City and the surrounding area. For example, I constructed a 3,857 square foot single family home with an 888 square foot detached garage and a 711 square foot second unit at 908 Far Creek Way In unincorporated San Mateo County (near Redwood City). Similarly, I constructed a 3,800 square foot single family home at 733 Temescal Way in Redwood City. Through this experience, I am knowledgeable about construction costs in the area, especially on hillside lots, and residential sales prices in the area. Construction costs on hillside lots tend to be higher than construction costs on flatter lots. You asked me to estimate the arrticipated construction costs and sales prices for the size and type of house you have proposed to construct on Laurel Way in Redwood City. In order to do this, I reviewed the project description and the engineering documentation. These documents show that the members of the Laurel Way Joint Venture will each need to contribute to the cost of constructing the required Infrastructure. This required infrastructure will cost between $150,000 and $175,000 per lot that is developed. I also visited Laurel Way. Drawing on this information and my thirty years' experience, I estimate the following: LOTS ON THE UPHILL SIDE OF THE ROAD House lnirastructu Foundation Construction Cost Per ConstructionToga! Cast Total Cost size Costs cast Square Foot Cast per Sqft 4,000sgf $150,000 $275,000 $375 $1,500,000 $1,925,000 $481.25 2,000sgf J $150,000 1 $225,000 1 $425 $850,000 $1,225,000 1$612.50 1 Using the low end of the estimated cost range. Address: 577 Rocky Way Phone: (650) 363-1102