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75B - PH - NEW PROPERTY OWNER 200 E FIRST AMERICAN WAY
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75B - PH - NEW PROPERTY OWNER 200 E FIRST AMERICAN WAY
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Last modified
11/18/2013 1:32:36 PM
Creation date
8/1/2013 10:26:22 AM
Metadata
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Template:
City Clerk
Doc Type
Agenda Packet
Agency
Planning & Building
Item #
75B
Date
8/5/2013
Destruction Year
2018
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Active partieipation in the specification, purchase and bidding process <br />In the 1990's, Genesis bid a mid-rise propertywith three nationallyknown general contractors.while <br />the bids came in within five percent ofeach otter, they were approximately $10 million higher than <br />the profarma estimate Genesis recognized that contractors ollen bid projects on a unit-cost basis, <br />ignoring any design efficiencies. Genesis spent the next four weeks educating subcontractors from <br />each trade on the efficiencies and time savings in Genesis' design, allowing them to reduce the man <br />hours required to complete the same work and obtaining an overall bid for the project that fit the <br />original budget. <br />Genesis extensive experience in biddingand workingd irectly with its large database o(subcontractors <br />allows Genesis to bypass many layers of middlemen, jobbers and wholesalers, bringing significant <br />savings to a proposed development. The time, effort and ability to source directly allows Genesis to <br />eitherprice below market ina for-salepmdact, orcliarge lorserrents in a rental development to achieve <br />the same superior returns for their partners. <br />75B-45
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