A Brief Explanation of the Schedule

The purpose of this publication is to give the real estate salesperson and others connected with the real estate profession a guide to current construction costs. It must be emphasized that this is a guide only and is not intended to be a definitive statement of the construction costs of individual buildings.

The rates in this guide are not suitable for building appraisal purposes, building permit calculation purposes or construction purposes, as they are only average prices. Cost variances can occur for a variety of reasons (e.g. building size, shape & height, location, quality, site area ratio, market conditions) due to the uniqueness of each individual project. Therefore, for specific projects, it is recommended that services of a professional quantity surveying firm be commissioned.

The unit costs given are applicable only to Toronto and district and represent the hard construction cost of the buildings, not the market value. The figures represent the cost at which a building of reasonably economic design on a flat site may be constructed under favourable circumstances. They include the cost of general construction and equipment, plumbing, heating and air conditioning, elevators, etc. where applicable, contractors' overhead and profit and Provincial Sales Tax. They do not include the Goods and Services Tax.

The cost of land, site development, hazardous materials removal (contaminated soil, asbestos, etc.), financing costs and architect's or other professional fees, are not included. The costs, therefore, bear no direct relation to what a purchaser might be prepared to pay for a building.

Costs are based on the use of commercial union labour throughout except where otherwise stated.

It should be noted that the costs given in this manual for multi-storey buildings should not be applied to buildings exceeding 30 storeys.

The unit costs for factories and warehouses are for owner occupied premises competitively tendered on drawings specifications prepared by an independent design consultant. Factories and warehouses which are built under a design/build package are frequently constructed to varying standards and may have unit costs which differ significantly from those shown in the guide.

If you require additional information, please contact a Commercial Realtor listed on this site.

 

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