Parkside Townhomes
Four buildings of six attached three-story townhomes with rear-loaded garages, rooftop terraces on the end units and a shared private drive with stormwater infrastructure. The builder-developer needed a construction loan estimate broken down per building and per unit, with site development separated so the lender could structure draws.
Location
Charlotte, NC
Size
24 units, 48,600 SF
Estimated value
$8.4M
Estimate turnaround
5 business days
Scope estimated
What we measured and priced
- 1.6 acres of clearing and grading with 640 LF of private drive and curb, 2 stormwater bioretention cells and utility laterals to 24 units
- 460 CY of concrete in monolithic slabs, garage slabs, footings and 2,200 SF of retaining walls
- 412,000 board feet of framing lumber with 2-hour party walls between 24 units and 8 rooftop terrace assemblies
- 19,800 SF of architectural shingle roofing, 3,400 SF of TPO at terraces and 1,900 LF of gutters
- 41,000 SF of fiber cement siding and trim with 1,200 SF of brick water table
- 236 vinyl windows, 24 entry doors, 24 insulated garage doors and 8 terrace doors
- 286,000 SF of drywall including shaftliner party walls, plus paint on all interior surfaces
- 24 kitchens and 60 bathrooms with 14,600 SF of LVP, 21,000 SF of carpet and 196 cabinets
- 24 split-system HVAC units, 24 water heaters, 1,560 light fixtures and 24 200 A electrical services
The estimating challenge
Townhome party walls are where estimates drift: the plans called for a two-hour shaftliner assembly between every unit, but detailing was inconsistent between the end-unit and interior-unit sections, and the rooftop terraces on eight units added waterproofing, drains and a different roof structure that the typical building section did not show. The lender required costs broken out per building for draw purposes, with site development as a separate line, and the builder wanted a lumber takeoff tight enough to lock pricing with the yard before rates moved.
The result
LEEDS estimated each of the four buildings separately, with end-unit and interior-unit costs tracked as distinct unit types so the terrace units carried their own roofing, waterproofing and structural premium. Party wall quantities were reconciled against the UL assembly listed in the specs. The lumber takeoff was issued as a yard-ready list by building, which the builder used to lock pricing for the first two buildings. The lender accepted the $8.4M estimate and draw schedule without revision, and the first building closed out within 2% of its estimated cost.
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