Welcome Center Yourland

Conceptual Program and Draft Budget Targets

Site Goals

1. Vision: Where Things Are Made

2. Cashflow Activation
3. Hospitality Activation

Assumptions

1. $5m in SBA funding

2. $2.8m to design/build
3. (5) main components

SBA Funding Breakdown

$1m - Land

$800k - Welcome Ops

$400k - Misc.

$2.8m - Design/Entitle/Build

Working Budget Targets

1. Family Fun - $400k

2. Production Strip F&B - $1.15m
3. Welcome Offices - $250k

4. Hotel Pad - $500k

5. Hospitality/Misc. - $500k

Design and Precon Timeline

Design and Precon Schedule Targets (11/1/18)

 

15 Days | Alta Survey

15-25 Days | Site Plan

25-30 Days | Pre-App Site Plan Submittal

25-30 Days | Full Site Plan w/ G&D

30-40 Days | Full Site Plan Submittal

30-40 Days | Building Permits (Self-Cert)

140-165 Days Total Time (7-8 Months)

 

**Estimates are Working/Business Days

Design and Precon Budget Targets (10/31/18)

 

$5,000-$10,000 | Alta Survey

$15,000-$25,000 | Site Plan

$2,000-$5,000 | Pre-App Site Plan Submittal

$20,000-$30,000 | Full Site Plan w/ G&D

$2,000-$5,000 | Full Site Plan Submittal

$20,000 | 4 Months Precon/Build Estimates

$64,000-$95,000

 

**Cost of Full Set Construction Documents/Building Permit TBD

1

Family Fun

Highlights: 15,000 SF; Office and warehouse to become coworking for arts, creatives, and small business entrepreneurs. 2 acres TBD

Primary scope of work: Select demo, HVAC replace throughout, Storefront revive, Minor TI Maintenance/Repair: Roof, Electric, Sprinkler *FFE + vacant 2 acres Not Included

Prelim Cost Budgeting*

Design Inspiration & Precedent

ESDIP | Berlin, Germany

ESDIP | Berlin, Germany

ESDIP | Berlin, Germany

The Beehive | London, UK

WeWork | Culver City, CA

2

Production F&B

Highlights: 7,000 SF; Former retail strip to become voyeur food production line with end unit cafe. Entry lounge/bar included.

Primary scope of work: Structural/Environ investigation, Commercial kitchen MPE and equipment, Complete TI, New roof, Cafe MPE

*FF&E Not Included

Prelim Cost Budgeting

3

Welcome Offices

Highlights: 3,500 SF; Grocery mezzanine to become Welcome's ops HQ.

Primary scope of work: Demo, Structural and Environ investigate, Framing/Rough-In, Office TI style, Restrooms

*FF&E Not Included

Prelim Cost Budgeting (10/29/18)

4

Hotel Pad

Highlights: approx 1 acre pad site along west side of 16th St. Currently improved parking lot, otherwise vacant.

Primary scope of work: Prep site for pad development as hospitality use.

 

Holding $500k budget line item at this time.

5

Misc. Hospitality

Highlights: 27,000 SF; Former grocery and diner to become urban trailer court hotel occupying empty former grocery space

Primary scope of work: Structural/Environ investigation, MEP prep, Site improvements including loading dock space and trailer hookups, Parking lot as necessary.

Holding $500k budget line item at this time.

Prelim Cost Budgeting

Design Inspiration & Precedent

Basecamp Hostel | Bonn, Germany

Basecamp Hostel | Bonn, Germany

Basecamp Hostel | Bonn, Germany

Basecamp Hostel | Bonn, Germany

Budapest Ruin Bars

Budapest Ruin Bars

 www.marthaandmary.net

sloane@marthaandmary.net

Welcome Center Yourland

APPENDIX

Family Fun

Gut Feel Budget Targets (10/19/18)

 

$400,000 at 16,000 SF ($25.00/SF)

+ $80,000 Soft Costs @ 20%

+ $20,000 Contingency @ 5%

$500,000

 

Recent Example Data:

At VenueX (24k SF), new EVAP = $3.35/SF, new air = $5.80/SF

Production Kitchen Early Concept

Gut Feel Budget Targets (10/19/18)

 

$262,500 at 4,000 SF ($65.62/SF)

+ $70,000 Soft Costs @ 20%

+ $17,500 Contingency @ 5%

$350,000

 

 

Welcome Mezzanine Office

Gut Feel Budget Targets (10/19/18)

 

$262,500 at 2,000 SF ($131.25/SF)

+ $70,000 Soft Costs @ 20%

+ $17,500 Contingency @ 5%

$350,000

 

 

Welcome Camp Early Concept

Gut Feel Budget Targets (10/19/18)

 

$975,000 at 33,000 SF ($29.54/SF)

+ $260,000 Soft Costs @ 20%

+ $65,000 Contingency @ 5%

$1,300,000

 

Recent Example Data:

Graduate Bar remodel (Caveat: Underground existing)