The Lower Manhattan Development Corporation (LMDC) has been charged by the Mayor of the City of New York and the Governor of New York State to develop and revitalize lower Manhattan – south of Houston Street - in the wake of the September 11, 2001 terrorist attack. Faithful+Gould was awarded a 2 year pre-construction services contract by the LMDC to provide cost estimating, value engineering, scheduling and risk management services as well as constructability reviews.
The master plan of the site was designed by Studio Daniel Libeskind and encompasses the construction of four major office buildings, two cultural buildings, the World Trade Center Memorial, a museum dedicated to the victims of 9/11, and the Lower Manhattan Transit Hub. The total investment in the program, including future infrastructure links, is expected to be $10-15 billion over 8-10 years. Faithful+Gould produced the only comprehensive cost estimates to date of the entire redevelopment plan. We have reconciled these estimates with all stakeholders and have conducted value engineering sessions aimed at maximizing value for the program. Assignments have included the negotiation of shared costs among stakeholders.
The challenge: To bring together the different components of the planned program in a coherent and cohesive global estimate that will provide the stakeholders with adequate information to make far-reaching decisions. We successfully negotiated the first phase of design estimates with all the stakeholders allowing for a smooth transition to the next phase.