We represented a real estate developer and project owner to negotiate AIA Document A102–2017, Agreement Between Owner and Contractor where the basis of payment is the Cost of the Work Plus a Fee with a Guaranteed Maximum Price, a multi-phase agreement with a GMP of about $8 million for the historic renovation of an approximately 80,000 sq ft commercial building, plus AIA Document A201-2017, General Conditions of the Contract for Construction. Due to the phased nature of design completion, the project was broken into three GMP phases, allowing Phase 1 to begin before the complete architectural and engineering drawings were finalized. Phase 1, including interior demolition, masonry openings, and pre-construction services, had a GMP of around $1.3 million. Phase 2, for exterior masonry restoration, had a GMP of around $325,000 for the lump sum component, plus unit price work for miscellaneous repairs. Phase 3 covered interior build-out and had a final GMP of around $6.7 million, with a contingency and general conditions costs of around $180,000 and $206,00, respectively.
