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What is the average construction cost per square foot for building a multifamily apartment in Los Angeles?
Wiki User
∙ 14y ago
While I don't have any specific data from RSMeans on Multifamily Construction costs per square foot in the California region, the answer to that question will depend heavily on level of design complexity, level of finish and exact location. Generally speaking though, the range for type V 1 hour construction with reasonably nice finishes will be between $150 and $200 per square foot nationally. California has a range of indexes that could be higher or lower than that range though - for example, downtown Los Angeles will be much higher than the outer areas.
Construction prices have risen year over year approximately 3%-8%, with the recent years (2006-2008) nearing 15% in some markets. Those aggressive numbers have softened by the end of 2008 and in fact went down in 2009. Industry expectations that it will be on the rise again for 2010 - see: http://evstudio.info/2009/05/20/construction-materials-prices-likely-to-begin-rising-by-mid-year-2009/
If you would like to discuss your project in more depth, we would be happy to help you with feasibility and design. Multifamily is an area of emphasis for EVstudio(http://evstudio.us/multifamily/) and we would be love to talk with you about your project further.
Wiki User
∙ 14y ago
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