Budget & Schedule Update / Updated Class B Cost Estimate
As of Jan 2023, the new central library project remains on budget. SPL recently updated the Class B Cost Estimate at 50% completion of the construction documents and one cost estimate remains before the construction contract is tendered this spring.
The following summarizes our cost estimate process to date:
- Class D estimate at the end of Concept Design (complete),
- Class C estimate at the end of Schematic Design (complete),
- Class B estimate at the end of Design Development (complete),
- Updated Class B estimate at 50% complete Construction Documents (complete), and
- Class A estimate at 90% complete Construction Documents (pending).
From the outset of this project, SPL has applied rigorous cost control measures to provide the highest level of cost certainty. To this end, we have engaged two independent cost consultants. At the end of each design phase, both cost consultants receive the architectural drawings and provide cost estimates based on those drawings. If an estimate exceeds the budget, both cost consultants will initiate a value engineering process. This process recommends cost savings options for consideration by SPL and the Prime Design Consultants to align the design with the construction budget.
COST ESCALATION & INFLATION
With the current market conditions, our projected construction costs have increased from $73.3 million to $79.4 million; however, there is no increase to the $134 million project budget. We have absorbed the cost increases within our existing budget by reallocating the cost savings we realized in other budget areas and through the value engineering process.
SPL will issue a request for pre-qualification for general contractors in the spring of 2023. Qualified firms will be invited to bid on the construction of the new central library. The general contractor’s scope of work includes both site remediation and construction.
The construction schedule has been refined as more specific information was available. Remediation of the site will begin in the late summer of 2023 and then construction will follow. As of Jan 2023, the new central library remains on schedule to open in 2026.
SALE OF 311 23RD STREET
Saskatoon Public Library’s Board has sold the building and property at 311 23rd Street (the existing Frances Morrison Central Library) for $4.45 million. The transfer of ownership will occur on Dec 1, 2026. Duchuck Holdings Ltd. purchased the property and SPL does not have details on the future or intended use of the building. The Frances Morrison Central Library will remain in operation until closer to the opening of the new central library. A permanent closure date has not been set.