On the March to Refresh

We’re into March already! Is Refresh still on track for construction to start on June 9th? Overall answer: So far, so good.

So, what happens this month in preparation for C-Day (Construction Day)? There are five main categories of March activity:

1)    Subcontractors Bids

Now that all changes to the designs are in and the blueprints have been completed, the call for subcontractor bids has gone out.  Our Construction Manager—Pike Construction—is systematically getting those bids in for a final tally of what Refresh will cost. Remember: We have a hard and fast “no further than” number approved by the KoH Board.

The Independent Estimator is using the same blueprints to develop his own estimate of the project cost, independent of Pike. Once both sets of estimates are in, they will be reconciled, under the supervision of our Owners Representative, Cushman & Wakefield. 

What’s an “Independent Estimator”? Good question. 

An Independent Estimator is a professional who provides unbiased cost estimations for projects, typically in construction, without being directly employed by the project owner or contractor. Hence “independent.” This allows them to offer a neutral assessment of costs based on market analysis and industry standards. They are often used to verify project budgets or compare bids from different companies, essentially acting as a third-party to assess the true cost of a project.

Because Independent Estimators are not directly involved with the project team, they can provide an objective analysis of costs without any vested interest in the outcome. They research current market prices for materials and labor to ensure the estimate is accurate and reflects current industry standards. With this information, they break down the project cost into detailed components—labor, materials, equipment, contingencies—providing a clear picture of where the money is being spent. If the figures come in over KoH-Board approval, the Project Team conducts “value engineering,” i.e. identifying what needs to be changed for savings.

2)    Weekly Preconstruction Meeting

The internal Project Team meets weekly with the Owners Rep, the Construction Manager, and the Architects (Amenta Emma).  The internal Project Team consists of Hank Schacht, Hildegarde Gray, Uriel Schlair, Jean Eccleston, Bob Michael, Fred Coppola and Ellen Ottstadt.   These meetings cover things like phasing, permitting, status of subcontractor bids, etc.

3)    Weekly Financial Meeting

Jean Eccleston, Carmela Carino (KoH CFO), our financial advisors, and the bank make up the core of this meeting. There are many attorneys involved in the financing process. There are separate lawyers representing Kendal, the bank, and the local development corporation. The local development corporation is the government authority that allows us to issue tax-exempt debt (which allows us to save money on the interest). 

The next step this group will be aiming for is approval from the New York State Department of Financial Services to borrow the money.

4)    Bi-weekly Budget Meeting

Every other week, Kendal’s finance department meets with the Owners Rep. to review the project budget and dollars that have been spent to date.   

5)    Special Meetings

There will be a Project Team meeting to discuss project details and an Interior Design Meeting that will focus on furniture.  

What’s Next? 

Two words: The Kitchen. In order to renovate the existing kitchen,  the Temporary Kitchen will have to be constructed. More about that next update!