GW announces preliminary cost estimate for new state-of-the-art facility.
Design of the George Washington University’s proposed new science and engineering complex took another step forward this week with the release of a project cost estimate.
The eight-story building, which is expected to cost approximately $275 million, would nearly double the amount of space currently available at GW for science and engineering.
Pending approval by the Board of Trustees, which will vote on the project at its October meeting, the complex would include approximately 400,000 square feet above grade to house teaching and research laboratories for faculty and students in GW’s Columbian College of Arts and Sciences and the School of Engineering and Applied Science. The School of Medicine and Health Sciences would also use some of the research space in the building for projects involving collaboration with the other schools. A typical floor would include research and teaching areas as well as breakout spaces.
“The Science and Engineering Complex will enhance our ability to attract top-tier faculty and outstanding students,” says Provost Steven Lerman. “This new facility will make GW a hub of science and engineering education in the nation’s capital.”
The preliminary estimate was based on information provided from the project team: project architects, Ballinger Company and Hickok Cole; preconstruction consulting contractor Clark Construction; and consulting project manager Boston Properties
The building, which is slated to be located on the site of the University Parking Garage, would also feature two levels of below-ground program space, 300 to 400 underground parking spaces on four levels and a retail venue on the ground floor along Eye Street.
In addition to covering construction costs, the $275 million cost estimate includes allowances for furniture, fixtures and lab equipment. The university plans to pay for the construction through fundraising, internal and/or external loans (debt service to be funded by payout associated with the Square 54 ground lease), and reimbursement for indirect costs provided under federal research grants. The parking garage will have a separate capital budget and will be paid for, over time, by users.
The basis of the estimate was prepared by GW’s project team after months of interactive design, planning and programming that have included input from a wide range of faculty members, deans, administrators, staff and students. Additional outreach to GW community members will continue this fall.