The Brooks Tower Board presented the initial bids to the Homeowners in a “Town Hall” style meeting in late June 2018. We are presenting some of the highlights of the meeting, starting with the estimated cost of the project (since this is the first question everyone wants answered) for the two most competitive proposals.
Base Proposals: $29,894,825 $35,489,891
Related Expense: $2,404,000 $2,404,000
Contingency $3,229,883 $3,789,389
Total Budget $35,528,708 $41,683,280
The selected proposals include pipe replacement throughout the building for all 3 systems (domestic hot/cold, waste/drain, and hydronic/HVAC). Each proposal considered all aspects of the project including mobilization, permit and inspections, abatement, safety, preparation and protection of owner property, etc.
The current plan is to complete the selection process and present results to the Homeowners at a Town Hall meeting in late July or early August 2018. In conjunction with this meeting, the board will forward its recommendation to the Homeowners for a vote.
Each listing published by our firm has a percentage of ownership figure published in Broker Remarks on each MLS listing; this will enable any buyer and their Realtor to project the impact on their purchase.