Sustainable Land Development Today - October 2008 - (Page 35)

structures on a 200-acre campus or to demolish the buildings and replace them with new construction. TCC hired Oculus to carry out a BIM analysis. Within 72 hours, the architects developed programmatic models of two replacement buildings: a 450,000 square foot office building and a 400,000 square foot laboratory. Both were modeled to house multiple tenants while providing options for future restructuring. Both detailed models addressed characteristics such as scale, height, volume, footprint, and floor plan configurations. Based on the models, the architects prepared accurate preliminary cost estimates for macro-level planning and future capital budgeting. Mixed-Use and BIM The technology can also handle larger, more complicated jobs. Take a mixed-use project currently being considered by a mid-sized city. It would include a superluxury, high-rise hotel with condominiums, luxury retail on the ground level plus a health spa and a pool. Plans also called for an underground parking garage. City officials had not worked on a project like this before. They believed — rightly — that there are a number or risks involved and they wanted to see fairly detailed drawings and cost estimates before moving forward. Using traditional methods, such a request would prove prohibitively expensive — perhaps in the neighborhood of $50,000. Just developing renderings, not to mention the detailed drawings necessary for estimates, the costs would be more than the city would be willing to pay. With BIM, however, it was possible to sketch out a basic, three-dimensional model and generate a ballpark estimate for between $10,000 and $15,000. In other words, the developer will be able to make a judgment that this project will cost from $80 million to $100 million instead of from $60 million to $120 million. Such a capability is even more important on very large projects. How valuable would it be to figure out that a project would cost between $600 million and $700 million — instead of $400 million or $800 million? Cost estimates within 20 percent to 25 percent enables developers to talk authoritatively to financial sources. He or she can discuss the project in detail with a banker and determine whether to approach individual high net worth investors or institutions as joint venture partners. Once potential investors have been identified, BIM can activate the system’s virtual camera and produce a dramatic fly-through of the three-dimensional models of the project. Then it can roll out quantity take-offs for a cost analysis, proving that the project has been as thoroughly planned and penciled out as possible. For developers, the technology can evaluate opportunities presented by raw land, renovation projects, retail rollouts, mixed-use concepts, and much more. The technology can help developers identify good real estate investments. It can help developers make more persuasive competitive presentations to owners. And, perhaps most important, BIM can provide the visual and quantitative details that bankers, potential joint venture partners, and silent investors need to make their decisions. To be sure, it takes an experienced hand to get the most out of the software to produce just what the developer ordered. SLDT About the author: Ron Reim is the Executive Vice President of Oculus Inc., and can be reached at 314-367-6100 or RonR@OculusInc.com. For more information, go to: http://www.oculusinc.com. REDEFINE & MAXIMIZE WITH AQUAMASTER® AERATION AQUA AIR™ VOLCANO II OXYMAX ™ Attracting Investors Once a developer has identified and vetted a concept, BIM can help identify and persuade investors to come on board. Working with an architect using the technology, a developer can calculate a project’s cost within 20 percent to 25 percent of the total. MASTER THE POWER AND BEAUTY OF WATER WWW.AQUAMASTERFOUNTAINS.COM 1.800.693.3144 Circle 122 • or www.SLDTonline.com/webcard www.SLDTonline.com 35 http://www.oculusinc.com http://WWW.AQUAMASTERFOUNTAINS.COM http://www.SLDTonline.com/webcard http://www.SLDTonline.com

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Sustainable Land Development Today - October 2008

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