Multifamily Construction Costs - 4 story vs. 5 story wrap
Does anyone have a good idea on the PSF / percentage increase in hard costs going from 4-story wrap to 5-story wrap? ~800 sf units, +/- 330 total units. Obviously a lot of other variables but curious to a general estimate on the increase.
I don't do a lot of non high-rise or mid-rise, but wouldn't the hard costs that your gc quoted you just be applied to the extra SF? Unless you have to add in an elevator t 5 stories, then obviously that would be an extra cost
No, you'd have an elevator at either point. The cost increase would be driven by having to add a level of podium or moving from type V to type III construction (basically your fire defense system completely changes over 4 stories).
This is going to vary from market to market so it's hard to say.
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