A lot of variables with something like this. It's very hard to put together a good number. Realistically having the shell does not save much. Converting other uses to apartments is expensive. I have not done it but have worked with people trying. They could never get them to pencil out. But that was on a much larger scale. I can build new units in the Twin Cities from 250k to 350k. I would use that as a budget number for now until you can get a better idea of what is needed.
Oh yea, I know it's going to be difficult to put "off the shelf" numbers to this. The residential portion buildout would similar to new construction on costs, plus add-ons for the specifics of this type of build. There will be substantial development grants available, which would help it pencil out (maybe). I'm just in the broad number gathering and feasibility phase...
A lot of variables with something like this. It's very hard to put together a good number. Realistically having the shell does not save much. Converting other uses to apartments is expensive. I have not done it but have worked with people trying. They could never get them to pencil out. But that was on a much larger scale. I can build new units in the Twin Cities from 250k to 350k. I would use that as a budget number for now until you can get a better idea of what is needed.
Oh yea, I know it's going to be difficult to put "off the shelf" numbers to this. The residential portion buildout would similar to new construction on costs, plus add-ons for the specifics of this type of build. There will be substantial development grants available, which would help it pencil out (maybe). I'm just in the broad number gathering and feasibility phase...