This massive redevelopment project preserves an important part of San Francisco’s history and significantly contributes to the financial, social and ecological well being of the region.
Parkmerced is a 152-acre planned garden apartment complex built in San Francisco in the early 1950s and is deemed one of only four remaining examples of large-scale, pre- and post-World War II residential developments in the country. In 2011, a development team sought to transform the automobile-centric enclave into a vibrant, sustainable, and pedestrian-focused community.
SBI Consultants provided technical and advisory solutions to Fortress during the early conceptual phase of this massive redevelopment project which is expected to be completed over the course of three decades. Incorporating the latest developments in smart design and planning, the project involves expanding Parkmerced from circa 5,000 to 9,000 residential units and adding new neighborhood parks, athletic fields, greenways and an organic farm; re-designing streets and bike paths; improving utilities and extending the surface transportation system.
SBI’s due diligence and cost estimating services included performing comparisons to the scope of work prepared by a third party separated between buildings, infrastructure, hard costs and soft costs. SBI’s unique cost engineering model enabled Fortress to perform several what-if scenarios while evaluating various development options. SBI’s tasks also involved a breakdown of the soft costs as well as providing an opinion on cash flow and project timelines.
As a result of SBI’s due diligence and cost engineering expertise, the revitalized Parkmerced promises to preserve an important part of San Francisco’s history and significantly contribute to the financial, social and ecological wellbeing of the region.