Title
South Platte Crossing Update
Body
Summary and Background Information:
Council directed staff to purchase the fifth floor unit of 7190 Colorado Blvd. (Adams Tower) in late 2020. Staff closed on the property in 2021 and began planning to refurbish the space consistent with its intended use as an office space for non-profits. The space is aging and requires a thorough renovation before it is usable for that purpose. Staff requested additional funding to conduct a remodel of the space, and Council passed an ordinance setting the budget for the project at $1.2M - the initial estimate for the project cost. Staff hired an architect to engage in design work for the project in late 2021, with work continuing into 2022. Council approved the concept that the plans were based on. Staff then selected a general contractor for the project (MW Golden Constructors) - the contract with MW Golden is currently undergoing legal review and will come before Council for final approval.
Prices for the project have increased significantly since the passage of the initial ordinance in late 2020 and the execution of the project, projected to begin in Q1 of 2023. Due to these cost increases, the current project cost is $1.5M. Staff is requesting an additional $300,000 for this project in order to carry it out in a manner consistent with Council's initial vision for the project.
If Council does not approve an additional expenditure, Staff and the contractors are prepared to move ahead with an alternative course of action. We have engaged in preliminary value engineering in order to trim project costs to fit within the current budget. A list of some of the proposed changes may be found in the packet. In addition to those changes, further savings can be realized in the furniture and A/V proposals: the architect has proposed using more budget-friendly furniture solutions, and A/V equipment can be scaled back as necessary (e.g. cutting out rooms with full videocall capability, reducing number of projectors and monitors in conference rooms, etc.). A combination of these savings will allow for total project costs to not exceed the current budget.
Staff Responsible (Department Head): Jason Rogers
Staff Member Presenting: John Bourjaily
Financial Impact: $300,000
Funding Source: General fund
Staff Recommendation:
Suggested Motion: