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VII. BID SPECIFICATIONS: (A) W /SJA: The minimum development <br />requirements of 65,000 s.f. and 85,000 s.f. were not met according to the <br />project size figures on the site plan. However, the developer indicates <br />in the cover letter for the bid that the 150,000 s.f. minimum development <br />requirement will be met. The buildings present design with its <br />"s w- tooth" shape on the St. Joseph St. and Michigan St. sides does not <br />reinforce the street edge. The primary building material is proposed as <br />brick. <br />(B) CCA XVI: The 65,000 s.f. proposal meets <br />th minimum bid requirements. The building as shown on the site plan <br />reinforces the St. Joseph Street edge. Some questions have been raised <br />co cerning the pedestrian scale of the proposed design and concerns about <br />th building material proposed, i.e., metal and glass. <br />VIII. ESTIMATED PROJECT COSTS: <br />NOTE: All project costs are in line with local conditions and <br />as umed market conditions. <br />IX. PROJECT CONSTRUCTION SCHEDULE: <br />(A) W /SJA: The developer proposes to begin <br />construction on Phase I within 15 months of the date of award. Assuming <br />the award of bid by the first week of May 1987, the developer would begin <br />construction by July 1988. <br />(1) Begin Construction of Phase I 7/88 <br />(2) Complete Phase I 7/89 <br />(3) Begin Construction of Phase II 7/90 <br />(4) Complete Phase -31- ___. _ 7/91 <br />(B) CCA XVI: The developer proposes the <br />following schedule: <br />(1) Final Site Plan /Rendering 5/87 <br />(2) Construction /Permanent <br />Financing Approval 10/87 <br />(3) Construction Bidding 2/88 <br />(4) Begin Construction 4/88 <br />(5) Complete Construction 10/89 <br />(A) W /SJA <br />Project <br />(B) CCA XVI: <br />(1) TOTAL <br />(2) PSF <br />(1) TOTAL <br />(2) _PSF <br />La <br />d <br />$ 210,652 <br />$ 1.40 <br />Land <br />$ 100,000 <br />$ 1.41 <br />Walkway <br />200,000 <br />1.33 <br />Skywalk <br />125,000 <br />1.76 <br />Hard <br />Costs <br />7,500,000 <br />50.00 <br />Direct Structural <br />3,675,000 <br />51.76 <br />Soft <br />Costs <br />2,700,000 <br />18.00 <br />Direct Site <br />135,000 <br />1.90 <br />Te <br />ant Finishes <br />2,250,000 <br />15.00 <br />Tenant Finishes <br />1,136,000 <br />16.00 <br />Start-Up <br />Expenses <br />499,500 <br />3.33 <br />Indirect Costs <br />1,556,250 <br />21.92 <br />$13,360,152 <br />$89.06 <br />$6,727,250 <br />$94.75 <br />NOTE: All project costs are in line with local conditions and <br />as umed market conditions. <br />IX. PROJECT CONSTRUCTION SCHEDULE: <br />(A) W /SJA: The developer proposes to begin <br />construction on Phase I within 15 months of the date of award. Assuming <br />the award of bid by the first week of May 1987, the developer would begin <br />construction by July 1988. <br />(1) Begin Construction of Phase I 7/88 <br />(2) Complete Phase I 7/89 <br />(3) Begin Construction of Phase II 7/90 <br />(4) Complete Phase -31- ___. _ 7/91 <br />(B) CCA XVI: The developer proposes the <br />following schedule: <br />(1) Final Site Plan /Rendering 5/87 <br />(2) Construction /Permanent <br />Financing Approval 10/87 <br />(3) Construction Bidding 2/88 <br />(4) Begin Construction 4/88 <br />(5) Complete Construction 10/89 <br />