Building an Apartment

[Sudheer Raghu]

Hi, I am looking for an expert advise who is builder investor in mixed use. I have an opportunity to build mixed use apartment and I want to get an expert thoughts on the projections and what should I be spending on construction to make this project profitable. Just to give an idea, we are looking to build 42 units around 600sft 1+ bed room units and 2 commercial place, total sqft is coming around 42k. We have good understanding on 2, 4 units construction. But with this 42 units will sft cost will be lower than building 2 or 4 units and we need some guidance who has done this kind of construction/investment.

I’m seeking expert advice from an experienced builder-investor in mixed-use developments. I have an opportunity to construct a mixed-use building with 42 residential units (each around 600 sq. ft. with 1+ bedrooms) and 2 commercial spaces, totaling approximately 42,000 sq. ft.

We have a solid understanding of constructing smaller projects, such as 2-4 unit buildings, but this larger scale is new to us. Specifically, I’m looking for insights on cost projections, especially whether the cost per square foot tends to decrease with larger projects, and what budget I should allocate to ensure this development is profitable.

Guidance from someone with experience in similar projects would be invaluable