Project Management & Logistics

The preliminary construction cost estimate for the 240 King Street development was developed using a dual-methodology approach to ensure accuracy and validate structural assumptions:

• Parametric Area Costing: The total baseline cost ($21.88M) was calculated using the Altus Group Construction Cost Guide localized for the Winnipeg market, applied to the functional area outputs from our Revit models.

• Quantity Take-Off (QTO) Costing: Detailed take-offs were extracted for primary concrete, steel reinforcement, and envelope systems. RSMeans historical data was applied to validate the bottom-up cost for the building's shell.

The detailed RSMeans QTO for the concrete, steel, and envelope systems represents 36.8% of the total building cost. This aligns with the 35-40% industry standard for mid-rise concrete construction confirms that our structural member sizing and material assumptions are financially viable for the Winnipeg market. 

Gross Floor Area Cost Summary

• Total Gross Building Area: 7,050 m²

• Weighted Average: $3,100/m²

• Total Estimated Cost: $21,900,000

Structure & Envelope QTO Cost Validation

• Concrete Superstructure: $4,435,000 (20.26%)

• Building Envelope: $2,470,000 (11.29%)

• Structural Steel: $1,150,000 (5.25%)

• Combined Shell Cost: $8,050,000 (36.80%)