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THE FINANCING OF NEW UTOPIA
INITIAL COST OF CONSTRUCTION: REVISED ESTIMATES
Platforms (10)
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Ten platforms (units), each 100 yards square (90,000 sq. ft.), at $1,750,000 each or $17,500,000.
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$17,500,000
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Apartment/Condos
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Assumed 642 apartments and condominiums averaging 1400 square feet each at a cost of $50 per sq. ft. or $70,000 average cost per unit or a total cost of $44,940,000. These will be built on three platforms, will be five stories in height, with 10,000 square feet of landscaping, shopping and recreational area in the center of each platform.
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$44,940,000
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Shopping Mall, Grocery, Hardware
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86,000 sq. ft. X 5 floors. The first 4 floors will have 63,000 sq. ft. of rentable space. The 5th floor 73,100 sq. ft. of rentable space. Assumed rents are 1st floor $25 per sq. ft. per year, 2nd floor $22 per sq. ft. per year, 3rd Floor $20 per sq. ft. per year, 4th and 5th floors $18 per sq. ft. per year. Construction cost, calculated at $35 per sq. ft., is $15,050,000.
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$15,050,000
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Hotel
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Construction and furnishing cost is calculated at $80,000 per room for a total of $20,000,000.
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$20,000,000
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Utilities
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Cost of equipment, water, electric, and sewer lines installed is calculated at $15,000,000.
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$15,000,000
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Port and Warehouses
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120,000 sq. ft. of rentable space is calculated to cost $25 per sq. ft. or $3,000,000.
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$3,000,000
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Medical Center
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315,000 sq. ft., with construction cost estimated to be $70 per sq. ft. or a total of $22,050,000.
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$22,050,000
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New Utopia National Bank
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25,000 sq. ft., projected to cost $80 per sq. ft. or $2,000,000.
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$2,000,000
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Government House
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240,000 sq. ft., cost is estimated at $20,000,000.
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$20,000,000
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Airport
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Planned: a 6000 foot long landing platform, with a 80,000 square foot turnaround at the terminal end. There will be 90,000 square feet of hangar, and fuel storage space. The cost is projected to be $40,000,000.
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$40,000,000
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Landscaping
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$2,400,000
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$2,400,000
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Operation overhead
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Architects, engineering, office staff, travel and supervisory expense is projected at $12,400,000.
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$12,400,000
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Surface Lease
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One percent of cost for 50 year lease: $2,099,000
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$2,099,000
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___________
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$216,439,000
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All construction is anticipated to be preformed reinforced concrete, prefabricated on land and installed in place on the platforms. A few years ago, before the centennial celebration in San Antonio, Texas, a Hilton Hotel was up and operating in 12 days, using this process. The room modules were locked into place already carpeted and furnished.
This will be only the beginning, or nucleus, of the City/State of New Utopia.
Return to The Financing Of New Utopia page.
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New Utopia
9441 East 31st. Street, Suite 160
Tulsa, Oklahoma 74145 USA
phone 918-712-9980 - fax 918-438-2611
E-Mail info@new-utopia.com
Last Updated: Sunday August 23, 1998 at 19:32 CT
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