|1. Renovate the building for re-use - $235,000.00
Scope would bring the facility up to the standard of a leasable shell. Expected work would include repairs to the exterior structure and ensuring that the interior components meet current safety codes at a cost of $135,000. Also required would be creation of adequate access and parking for this facility at a cost of $100,000.
- Provide facility for third party lease tenants, daycare, medical professionals, financial / legal professionals.
- Provide facility for City managed rental space for community uses.
- Provide for City office uses (Currently no need at this time)
No business plan has been undertaken for this option (it is simply presented as a possibility), nor do we have an understanding of the local market demand for this type of property. If this option is preferred, we would recommend that this work be undertaken to ensure the City fully understands the economics of puting this property on the market.
2. Relocate the building to Jubilee Park - $1,085,000+
The former Kokusai Kauyou facility has been reviewed by an experienced building mover at a level sufficient to determine viability and approximate cost. It is possible (though costly) for the building to be moved and relocated onto a new foundation at Jubilee park. This could eliminate the requirements for design and build of a yet to be designed new structure at Jubilee Park while retaining the old building which may be found to have sentimental value to the community.
Relocation of the existing facility onto a new foundation is estimated to cost $350,000, with the additional costs of $135,000 to repair exterior structure and bring interior components up to meet existing building codes similar to the discussion in option 1. This does not include costs for utility connections (water, sanitary sewer, gas or electricity) which could be significant.
Current need for this facility within Jubilee park has not been identified. For budget purposes, a cost of $150/sq. ft. would bring this facility to the same finish level as the recent FCSS office project completed at the Queen Street Medical Centre. Total cost for this fit out would be in the order of an additional $600,000 .
3. Demolish the building - $80,000
Demolition of this facility and re-grading of the site would allow for elimination of ongoing building costs and would provide more space for the downtown playground that will be built in this area. It is unlikely this option would be viewed positively by the community and removal of the old school building removes a significant piece of the rationale for constructing a small Japanese garden as an interpretive element of the current park design that has been shared with (and supported by) the public.