New York City’s Museum of Natural History broke ground on a major 230,000 SF project earlier this week. The new center will add galleries, classrooms, theaters, and a redesigned library – it’s expected to open in late 2020.
- Behind the scenes: Institutions hire consultants to develop a schedule and budget to see what makes the most sense for materials and design. With construction costs rising, these seemingly trivial decisions (e.g. steel vs. concrete, type of mechanical systems, electrical distribution, façade materials) make a big difference on a $383 million budget.
- Boutique vs. Massive Consulting firm: Having direct principal involvement on a project ensures the developer has the full attention and resources of the highest levels of the firm through text / email / call. Choosing one of the top firms is significantly more expensive and often does not provide for that level of service and attention.
- Why it matters: This is important for both large development sites and value-add deals. Having someone qualified oversee and direct all the moving parts (e.g. Contractor, architects, engineers, vendors, city agencies… etc) allows for greater efficiency and lower costs throughout the project.
- Bottom line: Alex Elkin’s Eastbound implements project controls to help effectively manage the schedule, budget, and quality of projects.