How a GC estimates a commercial apartment project

Key takeaways

• Read the whole bid package first: bid form, alternates, allowances, every addendum and the specs. Send RFIs early.
• Take off by CSI division in PlanSwift or Bluebeam Revu: areas in SF, lengths in LF, counts in EA, each color-coded on the plans.
• Sitework (Div 31–33): clearing in acres, cut and fill in CY, paving in SY, curbs in LF, utilities in LF plus structures as counts.
• Apartment MEP is priced per unit, then multiplied by the number of units, plus house and site items.
• Local pricing: RSMeans with the city cost index, then current quotes from local vendors and leveled subcontractor bids.
• General conditions are time-based: 14 months × $55,000/month = $770,000 in the example.
• Markups stay on their own lines: insurance, bond, overhead, profit, contingency. Example total ≈ $14.09M, about $271/SF.

Chapters

1. 0:00 Introduction
2. 0:10 The example project
3. 0:32 Step 1: Read the bid package
4. 0:48 Step 2: Takeoff in PlanSwift and Bluebeam Revu
5. 1:08 Step 3: Sitework (Divisions 31–33)
6. 1:38 Step 4: Concrete (Division 03)
7. 2:04 Step 5: Framing and structure (Divisions 05–06)
8. 2:26 Step 6: Building envelope (Divisions 04, 07, 08)
9. 2:43 Step 7: MEP (Divisions 14, 21–28)
10. 3:07 Step 8: Finishes (Divisions 09–12)
11. 3:34 Step 9: Pricing with RSMeans, vendor and sub quotes
12. 4:02 Step 10: General conditions (Division 01)
13. 4:20 The Excel estimate
14. 4:40 Markups and the bid summary
15. 5:03 Final check before you submit
16. 5:16 Get it done for you

Full transcript

Introduction (0:00)

How does a general contractor estimate a commercial apartment project, from sitework all the way to finishes? Here's the full process, A to Z.

The example project (0:10)

Our example: a four-story apartment building with forty-eight units and about fifty-two thousand square feet, on a two-and-a-half acre site in Dallas, Texas. Wood framing over a concrete slab. All numbers in this video are examples to show the method. Every real project is priced from its own drawings.

Step 1: Read the bid package (0:32)

Step one: read the whole bid package before you measure anything. Check the bid date, the bid form, alternates, allowances, and every addendum. Read the specs for each trade, list the scope gaps, and send RFIs early.

Step 2: Takeoff in PlanSwift and Bluebeam Revu (0:48)

Step two: the takeoff. We load the drawings into PlanSwift and Bluebeam Revu, set the scale on every sheet, and measure. Areas in square feet, lengths in linear feet, and counts for every fixture and door. Each item gets its own color, so every number traces back to a markup on the plans.

Step 3: Sitework (Divisions 31–33) (1:08)

Step three: sitework, from the civil sheets. Clearing in acres, cut and fill in cubic yards, and the select fill building pad. Paving in square yards, curbs in linear feet, sidewalks in square feet. Water, sewer and storm lines in linear feet, plus manholes, inlets and hydrants as counts. Example: two thousand one hundred cubic yards of select fill at thirty-eight dollars is seventy-nine thousand eight hundred dollars.

Step 4: Concrete (Division 03) (1:38)

Step four: concrete. Footings and grade beams in cubic yards, the slab on grade in square feet, converted to cubic yards. Then rebar or post-tension cable, vapor barrier, forming, pumping and finishing. Example: a twelve thousand five hundred square foot slab, five inches thick, is about one hundred ninety-three cubic yards, plus five percent waste.

Step 5: Framing and structure (Divisions 05–06) (2:04)

Step five: framing. Measure walls by type and height, then convert to studs, plates and sheathing. Count floor and roof trusses from the truss layouts, and add hold-downs and hardware. Steel stairs, railings and lintels go in division five. On a wood-frame apartment job, framing is one of the biggest numbers.

Step 6: Building envelope (Divisions 04, 07, 08) (2:26)

Step six: the envelope. Roofing in squares, where one square is a hundred square feet. Weather barrier, insulation, siding and brick veneer in square feet, net of openings. Then every window and door from the schedules, plus flashing and sealants.

Step 7: MEP (Divisions 14, 21–28) (2:43)

Step seven: MEP. For apartments, price each unit type, then multiply. Plumbing fixtures and water heaters per unit. HVAC systems, exhaust fans and ductwork per unit. Electrical per unit, plus house panels, site lighting and the service. Then the fire sprinkler system by square foot, low voltage, and the elevator.

Step 8: Finishes (Divisions 09–12) (3:07)

Step eight: finishes. Drywall in square feet of wall and ceiling, split into regular, moisture resistant and fire rated. Then tape and finish, paint, and flooring by room: vinyl plank, carpet and tile. Cabinets in linear feet, countertops in square feet, and appliances per unit. Forty-eight units times six appliances is two hundred eighty-eight appliances to price.

Step 9: Pricing with RSMeans, vendor and sub quotes (3:34)

Step nine: pricing. We start with RSMeans cost data and apply the city cost index, so labor and material match the local market, in this case Dallas. Then we call local vendors and suppliers for current prices on lumber, ready-mix concrete, rebar and windows, because those move every month. Subcontractor quotes are leveled side by side and checked against our own quantities.

Step 10: General conditions (Division 01) (4:02)

Step ten: general conditions, priced by time. On a fourteen-month schedule, supervision, the field office, temporary utilities, dumpsters, cleanup and equipment at fifty-five thousand dollars a month comes to seven hundred seventy thousand dollars.

The Excel estimate (4:20)

Everything goes into our Excel estimate. Each line shows the drawing reference, CSI code, quantity, waste, unit, labor hours, labor rate, material cost and total. Divisions have their own subtotals, and the general summary shows each division's cost and percent of the total.

Markups and the bid summary (4:40)

Then the markups, each on its own line: insurance, bond, overhead, profit and contingency. In our example, twelve point one million dollars of direct cost becomes about fourteen point one million dollars. That's about two hundred seventy-one dollars per square foot, or about two hundred ninety-four thousand dollars per unit.

Final check before you submit (5:03)

Before you submit: every addendum included? Any scope gaps? Do the quantities make sense for the floor area? And is the cost per square foot reasonable for this building type in this market?

Get it done for you (5:16)

That's a complete GC estimate, from sitework to finishes. Want it done for you? Premium Estimating prepares bid-ready commercial estimates for contractors across the US. Single-trade estimates start at three hundred dollars, and most are delivered in twelve to twenty-four hours. Send us the plans at premiumestimatings.com.