The city needs voters' approval in July before it can start the estimated $50-million project in March 2007, city staffers confirm for GlobeSt.com. The city also has to figure out how to pay for the project. Atlanta-based Barry Real Estate Cos. has told city officials upgrading the existing city hall structure would cost about $1.3 million, plus another $7 million for a city hall annex to house all of the workers who would be relocated from several city-leased properties.
Sources close to the project say the city is still working on cost figures for the venture. However, area construction sources tell GlobeSt.com a new city hall building would probably have a hard construction cost of $10 million. The planned 157 condos to be built over retail shops in four-story residential buildings would have an estimated construction cost of $80,000 to $100,000 each. The 81,100 sf of retail could be built for about $75 per sf but the office component would probably come in at about $200 per sf. The two parking decks might cost a total $5 million.
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