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The current budget works out to $604k per residential unit. And that’s without land acquisition. In that part of town it would be about $50k per door for land, or something like that.
Meanwhile over at Camosun, the new dorm is costed at $360k per bed, also with a land cost. The private market could deliver at least 50% more capacity at that price.
Everyone working on the project knows it’s funded by 3 levels of government that don’t know how to say “no” to contractor increases.
The current budget works out to $604k per residential unit. And that’s without land acquisition. In that part of town it would be about $50k per door for land, or something like that.
Meanwhile over at Camosun, the new dorm is costed at $360k per bed, also with a land cost. The private market could deliver at least 50% more capacity at that price.
Sorry, you're comparing the wood frame building with no underground parking to the concrete tower with substantial ground works? The McClung costs may be high, but you'll need to pick a better comparable to actually support your point.
The private market can build these units for much less.
1,600 rental homes will transform Saanich's McKenzie corridor between UVic and Cedar Hill Rd.
A significant volume of purpose-built rental housing is coming to the eastern end of McKenzie...
Two-tower design chosen for Saanich’s Nellie McClung library branch and affordable housing redevelopment
210-unit mixed-use project will proceed at building heights of nine and 18 storeys.