The Board approved $47,582,971 for the construction of intermediate #3. This price is $5 million under budget. During the bond election, the cost per square foot was between $350 - 375, and with the market stabilizing, the price is $335 per square foot.
The construction savings is due to several factors:
- PBK is using a similar design as Magnolia Intermediate (MIS);
- the site has already been developed; and
- the market costs have stabilized.
While the floor plan is similar to MIS, there are a few modifications:
- adding a 5th grade music room;
- the gym is larger;
- adding more faculty offices and restrooms;
- and making some modifications to some of the special services rooms.
To compare and understand the impact of inflation, in 2016, building Magnolia Intermediate and Bear Branch Intermediate, the costs were $23 million and $21 million, respectively.
The construction timeline is on track to meet the August 2025 opening.
