Ebright: Facts about the Harris St. Building (HSB) | SummitDaily.com

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Ebright: Facts about the Harris St. Building (HSB)

Feasibility study. In April 2012, Anderson Hallas Architects were retained by the TOB to prepare a feasibility study of the HSB. Summarized information from the report follows: gross/sf is 26,661: circulation(stairs,halls) is 4,340/sf; walls-3,750/sf; and net assignable space-18,561/sf. The net assignable space is allocated: 9,202/sf-library; common area-3,652/sf; Speakeasy-2,427/sf and TBD-3,280/sf. The area for TOB space for a community center (a portion is TBD) is 2,834/sf in the basement and 2,532/sf on the third floor for a total of 5,386 sf. Some of this area is for storage. According to staff, these numbers are currently being refined as a more detailed cost estimate is being done.Estimated cost. The estimated cost for the project is $7,435,000($280/sf) as follows: construction-$6,502,000($251/sf)(includes contingency of $767,000/15%); Speakeasy-$183,000 which includes seating, sound panels and expanded space; design fees/owner costs-$500,000; asbestos/lead paint-$100,000($4/sf) and FF&E/book stacks $150,000.TOB justification of expense. TOB has justified the expenditure of $7.5M(TOB’s share is $4.5M) plus cost overruns as the HSB 1)will be used as a community center and 2) placing the library in HSB will save the TOB $2.6M because the county is paying for a major portion of the library.Community center space. TOB will be spending at least $4.0M more for the HSB rather than a new library and will receive in return 5,386/sf-3 rooms in the basement(650sf, 881sf, 748sf) and 3 rooms (755sf, 990sf, 787sf) on the third floor(a portion is designated as storage) for use as a community center.Cost savings for HSB. TOB and others have stated that having the library in the HSB will save TOB $2.6M. The logic used to make this statement is faulty. By placing the library in the HSB, TOB is giving the County 75-80% of HSB for free. TOB will be spending $4.5M and will own approximately 20-25% of the building and the space it will own is 5,386 sf in the basement and third floor. If TOB spend $6.5M($.5M on a new library and $6M-original high estimate to rehab HSB), which is $2M more than the HSB proposal, it would own 100% of a 26,000/sf building that it could use as a community center and rent out the balance which is an incremental cost of $75/sf.Speakeasy. The construction cost for the theater is $183,000 which includes lowering the floor for stadium seating, expanding the snack bar and entrance area and adding sound panels. I assume the current assumption is that a leaseholder would pay for any upgrades such as digital projector, new sound system and screen. It is not known if TOB is discussing a lease with anyone.Public disclosure recommendation. As soon as the TOB has revised feasibility numbers for space and cost, those numbers should be shared with the public.John Ebright, Breckenridge