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)