Construction Cost per Square Foot for Hotels, Motels and Apartments
Hospitality and multifamily design have many common factors and we have worked on many projects in both sectors. This post is specifically focused on the construction Cost per Square Foot for Hotels, Motels and Apartment Buildings across several regions in the United States.
So, how much does it cost to build a hotel, motel or apartment building by square foot? While this will depend heavily on the design of the building, and its location, there is some guidance based on data collected nationally and analyzed by RSMeans, the industry leader in construction cost estimating and analysis. Local economy is a very important factor in construction cost as well as the type of construction you intend to build. Note, that not all types of construction cost the same per square foot, and even more importantly, the cost of construction per square foot varies significantly with location.
Below are three different types of hospitality and multifamily construction and the varying cost per square foot to expect for each in different regions. All graph images are courtesy of RSMeans Construction Cost Data. Data source: Reed Construction Data – RSMeans/Charts: Reed Construction Data – CanaData
Construction Cost per Square Foot of 2-3 Story Motel
As you can see from the range of cost per square foot, location alone can represent as much as 70% of the cost driver for a 2-3 Story Motel. The median for this type of construction is between $170 and $180 per square foot. Not surprisingly, New York tops the charts for most expensive city to build in at over $234 per square foot. Winston-Salem consistently ranks as the most inexpensive city to build in at $134 per square foot for motels.
Construction Cost per Square Foot for 4-7 Story Hotel
Building vertical always provides an economy of scale for larger structures, and that is noted with taller hotel construction. As these costs are spread out over greater square footage, we see a median cost in the mid $160 range with $217 on the high end and $124 on the low end.
Construction Cost per Square Foot 4-7 Story Apartment Building
At the lowest end of the cost spectrum is the 4-7 story apartment building. Similar to the Hotels, taking advantage of the vertical construction, apartment buildings also are not required to have the variety of functions that are necessary in a hotel. While amenities will be very specific to projects, on average, apartment buildings median cost are in the low $160's per square foot with a range of $121 on the low end to $212 on the high end.
It is increasingly important to understand the cost drivers for any commercial project and how building type, construction type and location can all be huge variables that will drive your cost per square foot. These are always a part of the initial programming discussions and the Architect will play a huge role in helping to define the ranges of cost to expect for the project.
- Cost per Square Foot of Commercial Construction by Region
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- Construction Cost per Square Foot of Community Centers in Major US Cities
- Construction Cost per Square Foot for a Post Office
- Cost per Square Foot of Construction for Institutional Buildings
- Cost Per Square Foot of Educational Facilities by Region
- Construction Cost Per Square Foot for Recreation Facilities
- Cost per Square Foot of College Building Types by Region
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Will be building hotel in near future looking for costs , Building will take place in Lake Orion Michigan, 100 rooms , 2 possibly 3 floors ,Looking for some sort of cost analysis ,Property is secured , Can you help ? Thanks Kenny
Hi Kenny,
Thank you for your interest in EVstudio. We have worked on a number of hotels and would be happy to discuss your project with you. Have you started working with a design team? That will be the very first place to start as there are several large cost driving decisions that need to be made before design really begins. Our team includes both architects and engineers that can value engineer your project and help you with initial cost analyses based on your program, site information, and initial design concepts. Initial phone consultations to get started are always free of charge and we can work anywhere in the country. In fact, we have already designed a few smaller projects in Michigan.
Let me know and we would be happy to work with you on that. Thanks Kenny, and I look forward to hearing from you
Hurricane Katrina destroyed our neighbored in Biloxi. Insurance cost makes building below 24 feet above ground level not practicable due to storm surge and high wind damage (200mph). We are thinking of building a multi-story high rise, condo, hotel, casino and retail building. The land is 36 acres prime waterfront.
That is the building cost difference between 10 and 25 stories.
Looking for very rough estimation at this time.
Hi Ed, Thank you for your question. I actually have a post coming out very soon for your very question and it is linked here for your use: http://evstudio.info/cost-per-square-foot-for-construction-for-8-to-24-story-apartment-buildings/. In the meantime, the data for apartment buildings from 8 to 24 stories tells us that a regional median cost is $220 per square foot, however, in nearby New Orleans, the cost is closer to $185 per square foot. I don't have any data specifically for Biloxi, but the southern region tends to hover around that $185/sq.ft. mark. I hope that helps, and if you need any help with the architecture or engineering for that project, we would love to discuss it with you more. Thanks!
Hi,
I am in 8th grade and am required to make a Utopian society. I'm not sure what would be the most cost efficient thing to do: sell plots of land, build houses to sell, or build apartment buildings. My teacher is very specific on how we are to pay for this and how much it will cost. As you can probably tell we don't have much money to work with. The location we have chosen was Harbor Springs, Michigan. As an 8th grader I have no experience in this type of field so any help you can give would be greatly appreciated.
Thanks! -Jamie
Hi Jamie,
We're happy to help out! The most important thing you need to start with is: just how big is this community going to be? A utopian society of 100 is a very different thing than say, 100,000. Also, how much area to you have to work with? 100,000 people in 100 square miles is a very rural setting where 100,000 people in 1 square mile has very different needs. The cost of land will be one piece of your puzzle. The cost of construction for buildings will be another. Note that the more square footage that you can stack, the less expensive the building will be per unit area. For example, a 3 story single family home will be less expensive to build than a one story ranch of the same size. So, apartments are more cost effective than single family homes. Apartments in your area can be constructed for around $160 per square foot. So, if each family of four is allocated a 2,000 square foot apartment, and you are housing 10 families per floor with 7 floors, you can house 70 families in a 7 story, 140,000 square foot apartment building for a building cost of 22.4 million dollars. That’s 280 people in a single building. Those same 70 families in individual detached housing may cost a bit more for the construction cost, and significantly more for the land cost. I do not know what the land values are for your area, but any local realtor would be able to help you out there.
Just be wary though, because anytime you have a large population of people under one roof, they all have to get along - and this may be the single biggest challenge for a utopian society!
Best of luck with your project!
-Dean
Hi
I own property on rt 23 in Wayne nj and have been approached by a company looking to put a 4 story 100-1120 room Hilton extended stay hotel on the site. How much does it cost on a sq. ft. basis to construct. It will be wood not steel. Thanks.
cliff
that was 120 room not 1120 rms and about 80000 sq ft
Hi Cliff,
Thank you for your comment on our post for the construction cost of hotels. Not knowing anything about the site or the program for the building (what amenities, services, etc.), the average index for a 4-story hotel in your area will likely be in the ballpark of $180 per square foot. So, for 80,000 square feet, the building construction cost will be in the neighborhood of $14,400,000 excluding FF&E, Land, financing or soft costs. Obviously, the actual design and program will inform this number considerably, but for the sake of a back-of-the-envelope educated guess, sight unseen, it is a good place to start.
If you need any help programming, designing or engineering any project, please let us know and we would be happy to propose on any scope of work for you. We are licensed and work in several states across the US and our team of professionals is very competitive, and used to working with contractors on tight timelines and budgets.
Sincerely,
-Dean
Hi
Do your costs per square foot of Hotels include cost of: amenities like: restaurant, gym,spa, pool?
Also, do you have any similar costs for casinos?
Viv
Hi Vic,
Thanks for your question. The index pricing includes data across a wide range of projects, many of which would include those kinds of amenities. Of course, every project is unique though, so a specific program can really drive the cost per square foot - and this is especially sensitive to the size of hotel and number of rooms as well.
As far as casinos, again, those are very program driven. A hotel-casino will fall more in line with hotel costs while a stand alone casino might fall more in line with conference or even theater programming. And most casinos also integrate restaurant facilities as well, so there can be a real mix of functions. Again, special features often found with casinos (theatrical lighting, water fountains, unique attractions) can really drive costs. and these index numbers would not include FF&E costs for the gaming equipment, so that would need to be considered as well.
If you have a specific project you would like to discuss in more detail, I'd be happy to talk it over with you so you can get a better idea on your project. Thanks!
Dear Dean,
Does this analysis cover Africa as well.
We have an enquiry from a client who have interest in developing an Hotel in Abuja that will rival the Hilton (Which is Nigeria No 1 today).
As you answer, you can as well send us a mail, so that we can continue the discussion in a more formal way.
Expecting yours.
Cheers,
Tola
Hi Tola,
Thank you for your inquiry. REED Construction Data is very specific to the regions for which it published data. The information about any one market within the United States alone will show that there are some areas of the country where cost per square foot is more than double other parts of the country. These indexes are very sensitive to local labor markets, availability of materials and numerous other factors. As a result, it is difficult enough to extrapolate this information to other regions within the United States. I do not think it would be appropriate to extrapolate this information to other parts of the world where the entire economy is different.
However, with that being said, there should be indexes available and one of the best resources would be contractors or owners of similar projects in your area that would be willing to share their construction cost information. Public projects in the United States are required by law to share cost information, so if this is similar in your country, you should be able to get that from the local public resources. Bear in mind that every project is unique and these numbers are only indexes. Actual project costs would need to be derived from a full design that could be priced.
I hope that helps. We would be happy to work with you on any level of the design for your project, and while I don’t know offhand what the licensure reciprocity is across our borders, I am certain that we can sort that out as the US has very rigorous standards, testing and continuing education requirements for architects and engineers so registration by comity is fairly typical. We have done various levels of design work for projects in other countries before, so the idea of working in other parts of the world appeals to us.
Hi,
I own a 45 unit exterior corridor motel in Florida City, Florida. I was plannin on tearing it down and building a 3 story, 6o unit interior corrdor hotel. I wanted to know a rough estimate on how much it would run to build one using CBS.
Kunal patel
I am planning to buy 1.5 -2 acre land to construct 10-14 room motel of supar 8 motel standard finishing in michigan.
Can you give me idea cost/sq ft?
Hi Sunny,
Thank you for your inquiry. I would expect, in the location that you are looking, and the level of construction that you are anticipating, that you would fall between $100 and $150 per square foot for construction. 10-14 rooms is a pretty small motel by most standards, and the questions I would have for you is what other amenities are you planning on providing? Will the motel offer a pool, breakfast room, lobby space? These things would factor into the total square footage, so your program for net size of structure would inform the overall budget. If you would like any help in the programming or design of your project, our team is very familiar with that project type and we would be happy to discuss with you further. Thanks again!
-Dean
Kunal, is the hotel just made up of hotel rooms or does it also include other facilities? Can you clarify what you mean by CBS; is it concrete block systems, composite building systems or something else. Thanks
Hi guys,
I am looking into the initial costs of building a 50-60 room boutique hotel in the downtown are of a small Mississippi town. Was wondering if you had suggestions on where/how to find a good source for calculating costs...from sq footage, overall costs & even per room costs. This will be new construction and most likely need to rise 4-7 stories...maybe more depending on room size.
Hi Jon,
Thank you for your comment. Our source for cost estimating is R.S. Means, which is also the source of the data on the charts that you saw on our website. Based on the general information you provided, and your location, your project cost will likely be between $150-$180/square foot, depending heavily on the level of finishes. Boutique hotels can be at a premium for interior finish costs, and more detail would be necessary to bracket those costs. EVstudio participates in architectural and interior design as well as structural, civil and MEP engineering in many states all over the country. We would be happy to discuss your project in more detail if you are looking for a design team.
I chose to have motel built from the ground up. This will give me an opportunity to design my dream. The roof is a very important part of the building. I will use the metal roofs in a triangular shape because a metal roof is fire retardant and almost maintenance-free. By having a triangular roof, the motel won’t have a roof leaking problems because it will not hold water in rainy season. In motel, the biggest cost is a utility. To overcome that cost I have a special plan. Many times when customers leave from the room, they leave lights and AC on which will increases the utility costs. Therefore, I will use “The Energy Patrol System™” in each room, which will help me to save the energy and utility costs. I will hire the following employees: 3 front desk employees, 1 laundry, 1 breakfast, 2 drivers for transportation service, 3 housekeepers. My husband and I are also going to work. I will direct and coordinate a variety of activities surrounding the operation of lodging facilities. Areas such as reservations/registration, housekeeping, food service, accounting, and guest services are under my supervision. My husband is going to make a schedule, and supervise all employees. I will provide free Wi-Fi, gyms services to keep my customers healthy, 24/7 customer service, pool, dining area, free breakfast, game room for kids, garden for seniors so they can do the meditation in fresh air, computer room, meeting room, and transportation service to certain locations.
When I got married I was 21 years old, I went to Mauritius for my honeymoon. Over there we stayed in a very nice motel. That motel had all the facilities that one customer expects. The environment was very romantic. I thought I am in heaven. From that day I had a dream of motel business. As the days passed, my dream and my memorable movements also grew. I decided to build a motel where the customers are not just renting a room but they are getting their home. They feel like they are staying in their home, not in motel. I have already worked in a motel for 7 years so I have knowledge and skills to run a business successfully. I have excellent verbal and written communication skills. I have frequently given the presentations to large audiences. At my work I am a successful leader, equally effective as member of a team, highly organized, able to multi-task, accomplish multiple objectives, maintain a professional demeanor, and give attention to detail. I have a quality of effective management, am driven to provide excellent customer service, and able to assess complex situations and formulate solutions. I am a comfortable and confident public speaker, able to motivate others to action. I have relationship-building skills acquired through experience in customer-service positions. I have skills in the areas of accounting, computer use, marketing, supervision, and possess other aspects of hospitality services required to succeed in this business. Also, I have skills that include initiative, self-discipline, the ability to organize and direct the work of others, work as part of a team, and to effectively communicate with guests and staffs. Even though I have strong skills, knowledge, and experience, I will have to face challenges. My biggest challenge is that there are many motel businesses that are going bankrupt. At this time I am going to start my new motel business. I will put all my efforts into this business. I plan to arrive at 7:00am to check if my customer needs anything or if they had any problem before they check out. If they have any problem I will give them best satisfaction. My first priority will be to give best service to my customer. I will do everything for my customers. If they suggest having more facilities, I will try my best to provide them.
All customers are welcome in my business. Business men, business women, honeymooners, adults, and families are my potential customer groups. Business men and women have to travel for business purposes and families can enjoy vacations. I will target the baby-boomer also as my business grows. Seniors want to relax and I will have really nice and peaceful environments for them. As I explained previously, kids can enjoy a game room so their parents have privacy same time while they are watching their kids. By having a fitness center, customers can keep themselves healthy while they are on vacation. In a meeting room, business men and women can arrange their meetings with their clients. Since I will provide Wi-Fi, a computer room, and business center, customers who come for business purposes can have all the facilities which make their work easier. I will provide hot breakfasts to all my clients so they can start their day happily. In the dining menu, I will include a selection of freshly prepared appetizers, soups, salads, sandwiches and breakfast, lunch and dinner entrees available to order 24/7. In my services, I will also include a Special For Kids Menu, which is sure to please with traditional favorites, including Mac & Cheese, peanut butter and jam sandwich (PB&J), and Grilled Cheese. I will organize a separate floor plan for celebrations such as Christmas parties, wedding receptions, family get together, and club meetings. I will offer full of services for them. I will attend business events for networking. I will create business cards, brochures, and fliers and distribute them to the people. I will collaborate with the airline tickets agents and car renters. I will give the special rates to customer from Sunday to Thursday. Customers are able to apply for reward cards so they can save their money as they spend.
Hyatt Place and Marriott Hotels are my two big competitors. Hyatt Place and Marriott also provide some of the services that I do. But I still have differences that attract my customers. I will have smoking, nonsmoking, Jacuzzi, and suites which will provide them special room as per their requirement and budget. I will provide guestrooms with modern decor with stylish furnishings including the luxurious bed, state-of-the-art media and work center with a 46" Samsung smart high-definition flat-panel television that easily integrates with laptops and other electronic devices, a comfortable sofa-sleeper and bathroom vanity upgraded with granite countertops. Most exciting attractions, Georgia Aquarium, World of Coca-Cola, Georgia World Congress Center, Philips Arena, Hartsfield Jackson Atlanta Airport (ATL), are located within 10 to 15 miles. Hyatt Place and Marriott Hotels are not providing transportation services. On the other hand, I will provide transportation services, so customers can enjoy their favorite attractions without car parking troubles. Hyatt Place and Marriott don’t have gardens. The Patel & Motel does have a garden, which attracts my customers to stay.
Could you suggest cost to build?
Hi Bobby,
Given what you have described, and the amenities you are looking to provide in your facility, I would say that construction costs in your part of the country would fall right around $150 per square foot. The result is that a 10,000 sq.ft. 20 room motel on one floor may be a $1.5M project while a 30,000 sq. ft 70 room motel (more efficient the larger you get as you spread common space across more rooms) may be a $4.2M project, and so on. The larger you go, the lower the cost per square foot due to economies of scale. And multi- floor construction is also advantageous (one roof, one foundation, more rooms).
So, based on your overall budget, this will afford a first pass idea of how large the building can be, number of rooms, number of floors, etc.. These of course could be higher or lower depending on many factors, but until you've got at least a conceptual schematic design that is informed by the program and initial budget, this is about as close as you can get at this stage. Is becomes a feedback loop where the budget drives the size of the building initially, based on the general average cost per square foot. Then, the project starts design and informs the budget.
I hope that helps. EVstudio works on projects across the country, and we would be happy to discuss how we can help you with your design for this project. Our team is made up of architects and engineers - essentially everyone you need to get your project ready for construction. And we also have good connections with construction firms as well - one I particular is based in Atlanta. Just let me know how we can help. Thanks!
-Dean
Hi,
I am a Real Estate Broker in Up-State NY. I have a client who has a fully approved site for a 81 room, 3 story, mid-level Hotel in a Town that has litlle to no competition for this type of Hotel. He wants to market the land and the approvals. I'm having difficulty in pricing this, can you offer any direction on how I would determine an accurate price range? I've searched comps and there are just too many variables to consider.
Thanks
Mark
Hi Mark,
Thanks for your inquiry. I would definitely advise you to start with a conservative budget, then qualify it as you develop the design. For the upstate New York area, right around $200/sq.ft. is the "average" cost per square foot. This is based on the average for the costs across many line items for many buildings.
This number can be variable, depending on design features and finishes. To be conservative, you should plan on a 10%-20% premium for higher end modern finishes, or other elements that lend themselves to a high end appeal At the same time, you can also achieve an edgy, urban aesthetic and be afforded at a discount, yielding perhaps a 10% discount. Those finishes will close the gap between. Beyond the initial index targets, you would need to start developing a conceptual design to then qualify those numbers.
I hope that helps! We hold licenses in architecture and engineering in several states across the country, and have done projects in New York. If you would like to discuss your project further, let me know and we can certainly help out with everything from front end programming and conceptual design to final permit ready construction documents and everything in between.
-Dean
Hello,
Doing a study (senior design thesis) on hotel construction and trying to determine the % of non-income (non-room) areas in a typical 4 star hotel.
Example, in a 10 story hotel with 200 rooms, how much of the hotel would be for things like reception, kitchen, restaurant, service areas, storage, maintenance, elevators, hvac, etc.
Looking for an average % of the total square footage for a standard 4 star hotel
Thanks.
Douglas
Hi Douglas,
Different hotels definitely have varying degrees of non-room space. A conference center, for example, would be a wholly larger proportion of total square footage than, say, a boutique hotel in a vibrant shopping district. Some hotels (resorts) have multiple choices for restaurants while others may serve those needs off site. Your best bet is to inventory all of the spaces contemplated in the facility and assign a square footage to each based on their own needs. For example, you might inventory 50,000 square feet of conference space, 5,000 sq.ft. of boutique nightclub, 5,000 sq.ft. of restaurant, etc., 3,000 sq.ft. of lobby/reception, etc... Then, add in your room space (x number of rooms times 300 sq.ft. or so for a double occupancy room) and don't forget horizontal and vertical circulation, which could easily comprise 10%-20% of your total plan. Utility and service space (HVAC etc.) will also occupy a significant amount of space, but there again, heavily dependent on the systems, the location (climate) of the hotel, etc.. Are there indoor spas, pools, business centers, casinos, theaters, etc.? And don't forget administrative offices (if they are on site) and other support facilities like housekeeping, laundry, etc.. All of these things would inform your analysis. I know that doesn't give you a definitive answer (because, frankly, there isn't one to be given), but hopefully it informs your study. Best of luck!
-Dean
Hi Dean,
I am planning to build a two-story 35-38 rooms limited service hotel in North PA. It is going to be wood framed. One construction option is modular build. I want to know if this option is going to save some investment comparing to stick-built construction. And what is the approximate cost per sf for modular hotel building? Again, the hotel is limited service, motel standard. Thanks!
Nicole
Nicole,
We have found modular construction to be extremely cost effective in areas where it is available and nearby. Your best bet would be to get pricing directly from a supplier and compare that against conventional framing costs in a detailed line item budget. Do you have a design yet or do you need help with that?
-Dean
Hi Dean,
Luckily we have a very good pool of modular manufactures in the area. I am waiting for a couple of issues to be clarified by the township and then I will start the engineering and architectural design. Again, my hotel is going to be very simple and practical, owned privately. I will contact you again when I get that far. Thanks!
Nicole
Sounds great Nicole. Looking forward to speaking with you at some point!
-Dean
5 story, 4 star, 125 key hotel project, new build.
can you provide some average percentages for architecture (design development to construction documents), and separately, just for interior design of the same project.
Interior design would cover both included rooms, lobby, restaurant & common areas
Thanks.
douglas
Douglas,
Thanks for your inquiry. There can be a wide spectrum of fees depending on many factors. A quick study at the program would help to identify the overall size of the proposed building, what amenities are involved (pools, spas, restaurant/bar, ballrooms, etc.), and what site improvements would be involved (surface or structured parking, parks, gardens, wedding pavilions...).
We can provide fees for in-house design services that include Architecture, Structural Engineering, Civil Engineering, Landscape Design Mechanical, Electrical and Plumbing Engineering and Interior Design. All together, you could easily be looking at anywhere from 5% to 15% of estimated construction cost, but again, so many factors to consider, it would be best to discuss your program and get a better sense of the programming and the site.
We would be happy to discuss this project with you and help you with your strategy to take the next steps. We can provide services from initial feasibility and conceptual planning to Engineering, Construction Documents and Permitting, and beyond to Bid negotiation and Contract Administration. Please reply or give me a call any time and we can discuss further. Thanks!
Do you have any frame of reference for the cost to complete a site plan for submission and city approval.
Site is mixed-use business and hotel site and site plan to include; building layout, egress/right of way, site parking and building placement for a 4-5 story, 125 key hotel and other buildings for mixed use site.
Understanding there are many variables, is there an average percentage of development budget or some other calculation that is used ?
Any input would be appreciated. Thanks !
Douglas,
Thank you for your inquiry. We have a Civil team that specializes in these types of submittals. The most important question, of course, is where is your project located. An SDP submittal in Duluth, is going to be different than New York City. I have forwarded your inquiry to our Civil team, so they will be able to guide you on what to expect, the costs involved, and would be happy to provide you with a scope and fee proposal to help you with your project.
Thanks!
Hello,
I own a small piece of property in WPB FL and want to build a three story three unit rental.
Each unit/floor will be 20' X 30'. I want to build vertical because I will then have a water view
on the top floor. What would the cost be to build this small mini tower ?
Terry,
Thanks for your inquiry. This project would be more akin in cost to a residential multifamily project like condos or triplexes. Three units vertical does not get you into trouble with fire safety or any of those similar codes, so there is considerable cost savings in going vertical up to this point. In your area, I would expect costs to range between $160 a square foot and $200 a square foot, depending on many factors, not the least of which would be the level of finish. I have seen highly appointed luxury residential projects cost much more. For the project you described, the building cost (not including land, soft and finance costs) should be between $300k and $400K.
We have architects and engineers licensed in several states across the country. How are you outfitted for a design team? We would be happy to discuss this project in more detail with you. Let me know. Thanks and happy holidays!
-Dean
Hi , I am looking into building a 20 unit motel single level and wondering the price per square foot for the central new york region, also does the price per square foot include an office area and other non occupied areas... ie: laundry,mechanical room etc.
Hi Ron,
Thanks for your question. You should expect costs per square foot to be lower than the $230+/ sq.ft. that you see here for New York City, given what you described - perhaps as much as 15% lower. However, note that costs have gone up a full $10/square foot since this data was first posted. So, as a result, you might do well to budget between $190-$220 per square foot for your project in New York, depending on level of finish and amenities provided. These figures do include the total enclosed space which would include the service and administrative spaces within the project. To get a closer estimate, you would have to validate the cost of labor in the local market - this has seen a tremendous swing in the last few years, but seems to be stabilizing in most markets that have come out of the recession. Best of luck, and if you need any assistance with your architectural or engineering design, please let us know as we have experience with this project type.
-Dean
Hi Dean, Thanks for your response, I have a couple more questions.... does the price per square foot include the land price? also how much could i expect to save when I will be the construction manager? Also can you ballpark a price for architectual drawings and design?
Hi Ron,
No, the land costs are not included in these numbers - they are purely for the cost of constructing the building itself. Additionally, site development costs and entitlement costs would also be a part of the land cost and, as such, are not included in these figures.
As far as construction manager, let me say this: the general contractor's fee typically represents anywhere between 10% and 20% of the cost of a construction project. However, general contracting has direct costs, so to do it yourself, the answer to your question completely depends on the cost for your management team as well as your skill set. There are general contractors out there that are worth well more than their fees in terms of the value and savings they bring to the project. Similarly, an unskilled general contractor could cause serious cost and schedule overruns which could more than wipe out any savings realized by cutting corners.
I hope that helps. If you would like to discuss your particular project in more detail, and get a scope for design services started, let me know by phone, e-mail or comment here and we would be happy to help. Thanks!
Hi There,
I am considering building a hotel from ground up with around 50 rooms. The hotel would be in Florida. I do not want wooden frame. I would like to use cement blocks. I would like 6 rooms on the first floor. 11 rooms on each floor equaling 50 rooms. On the main level there will be a swimming pool, a lounge (bar/restaurant). One elevator. Room dimensions would be 14x28 with 10 foot ceiling. Hotel laundry, and other storage areas. Meeting space with 50x100. I hope I have supplied enough information.
Thank you,
Jim Gill
Hi Jim,
Thanks for your question. From the program you described, you would be looking at approximately 25,000 - 30,000 square foot building total across the 4 levels. For initial budgeting, you should consider the $150 per square foot from the chart, assuming fairly typical finishes (in other words, not an exotic boutique hotel). So, for initial budget considerations, the building cost itself would be $3.75-$4.5M. This would NOT include soft costs, land costs, furnishings, operations setup costs or finance costs. Any special site amenities would also be additional. A proper pro forma would inform the total cost picture and subsequently, the design goals for the project as the project should be designed to the budget, not the other way around. Let me know if you need any help with the design of your project and we would be happy to put a design proposal together for you. Thanks again!
-Dean