Hunnewell Project: Costs and Funding
The Feasibility Study phase evaluated the construction costs of the options considered with two conceptual cost estimates provided by subconsultants to the Owner’s Project Manager and Architect. The Architect’s cost estimate for the new construction, recommended option is included as the basis of design in the conceptual Total Project Budget of $57.5 million. A summary and breakdown of the total project budget is provided below and breakdown of the total project budget can be found on this page and with this link.
The Town of Wellesley and design team will continue to refine the project scope, design and project costs during the schematic design phase that will establish the final total project cost. Based on the Feasibility Study concept estimates, the preferred solution currently ranges $55 million and $58 million for all-new construction, including abatement, demolition and necessary site work. The Town will be setting its project budget at the conclusion of Design and Bidding phases.
At a Special Town Meeting on December 9, 2019, a request for $4.68M in design and bidding funds was approved. A detailed breakdown of this value can be seen extracted from the total $57.5M budget in the project budget link. There is a summary level cost table of the design phase budgets request for the next Town Meeting. The approval of Town Meeting and a town-wide debt exclusion vote will be required to fund the construction phase of this project.
The School Building Committee and consultants considered over 20 options for swing space and narrowed it down to the remaining feasible swing space options of Internal Swing Space which is the early option and a few late hunnewell Swing Space options that center around using one or both of the Hardy and Upham schools after that project is complete. The conceptual budgets for the “Early” and “Late” Hunnewell options are summarized in the Swing Space cost table. The Project Team provided supporting Swing Space Memorandum with explanations for the assumptions of the forecasted escalation and other cost considerations. On October 3, 2019, the School Building Committee voted to proceed with Internal Swing Space as the preferred swing space option.