NEW SCHOOL BUILDING MODEL DEVELOPMENT AND COST UPDATES

In recent years, the New K-12 School construction sector has experienced strong growth and evolving changes in common design features and functions. Schools have become more technologically advanced, more energy efficient, and built with greater focus on safety design features and functions. Purpose: The purpose of this project is to update the current School cost models which: Fully specify four regional cost model that will be updated at a minimum, on at least a quarterly basis Identify the “average” and/or most common characteristics of a new school building constructed between June 1, 2020 to June 1, 2023 as determined by data collected by the vendor. Identify trends (positive or negative) in school construction. Aid in creating and maintaining four regional (Northeast, South, Midwest, and West) School building cost models and a methodology to update the costs in thein each of the four regional cost models on a quarterly (or more frequent) basis. The methodology shall adjust the costs for each component of the model to reflect market price movements observed within the region for which the model was designed.