Poured concrete vs wood frame new construction apartments

[Steve Davis]

Hello BP,

   My partners and I have plans to construct a 3-storey 54 unit apartment dwelling. We have buyers that will pre purchase the property but only if it is built with a poured concrete structure instead of wood framing. They understand that the cost of construction will increase and are willing to pay the difference.

   I have spoke to a few builders and contractors and they are all claiming the cost difference is significant. Is there any developers on here that can weigh in on this? It is 50x 2 bedroom 1 bath units and 4x 1 bedroom 1 bath units...

Regards,

Steve   

[Greg Dickerson]

Originally posted by @Steve Davis:

Hello BP,

   My partners and I have plans to construct a 3-storey 54 unit apartment dwelling. We have buyers that will pre purchase the property but only if it is built with a poured concrete structure instead of wood framing. They understand that the cost of construction will increase and are willing to pay the difference.

   I have spoke to a few builders and contractors and they are all claiming the cost difference is significant. Is there any developers on here that can weigh in on this? It is 50x 2 bedroom 1 bath units and 4x 1 bedroom 1 bath units...

Regards,

Steve   

Yes concrete and steel is 30-40% more than wood as it drives up the costs for all the trades in addition to the base material itself. Depending on sitework and stormwater requirements you are probably looking at $165 sqft plus.