Agenda Packets - 2022/09/06 - Laserfiche WebLink

Home Browse Search

Feasibility Study of a Potential New Youth and Amateur Sports Complex in Mounds View, Minnesota ●Page 7 EXECUTIVE SUMMARYES Facility Concept &Program The purpose of this section is to build off the market demand research,analysis and conclusions related to a potential new Youth and Amateur Sports Complex in Mounds View to evaluate market-indicated facility development options.Recommendations regarding potential facility components and other aspects evaluated in this section are based on the results of the market analysis,including the historical,current and projected demographic and socioeconomic characteristics of the market area,an assessment of existing sports and recreation facilities in the marketplace,characteristics of comparable sports facility developments throughout the country and discussions with potential users of a new Youth and Amateur Sports Complex in Mounds View. Specifically,the following elements represent a target market supportable program and key attributes for a potential new Youth and Amateur Sports Complex in Mounds View inclusive of three additional full-size basketball courts adjacent to the Mounds View Community Center : •CONCEPT:Three additional full-sized (95’x 50’alleys)hardwood basketball courts (total of 5 basketball courts,convertible to 10 volleyball courts)extending from the two existing hardwood courts at the Mounds View Community Center. •INCREMENTAL FACILITY SIZE:Approximately 30,000 gross square feet. •PARKING:Approximately 400 total spaces. Description Quantity Unit Cost Total Hard Cost Detail: Hardwood courts 24,000 GSF $250.00 $6,000,000 Support space 6,000 GSF $275.00 $1,650,000 HARD CONSTRUCTION COST SUBTOTAL $7,650,000 Soft Cost Detail: General Requirements 10%$765,000 Design Contingency 15%$1,147,500 FF&E 5%$382,500 ESTIMATED SOFT COSTS $2,295,000 ESTIMATED TOTAL CONSTRUCTION COSTS $9,945,000 Order-of-Magnitude Project Costs The table below summarizes the order-of-magnitude program cost summary for a new Youth and Amateur Sports Complex in Mounds View.As shown,it is estimated that the total cost (hard and soft costs)to develop the site and construct the Complex is estimated at approximately $9.9 million (in 2022 dollars). While the final project costs could vary based on changes to the building program,timing of the project,recent economic conditions (e.g.,inflation)and other such factors,this cost estimate is useful in determining the appropriate amount of project funding that may be required.Further discussions between stakeholder,local community leaders,project architects and other such individuals will be necessary in order to finalize the building program.This figure does not include any costs related to site acquisition,nor does it consider the highly-volatile steel,lumber and materials costs presently impacting the construction industry nationwide.It is assumed that current construction cost volatility will largely be normalized to pre-pandemic levels by the time that construction services would be contracted/purchased for any new Youth and Amateur Sports Complex in Mounds View.