Staybridge Suites Hotel

Syracuse, New York

123 Guest Rooms
New construction
5 story – steel, masonry and concrete plank
84,000 square feet
Construction Cost: $10,300,000
Duration: 12 months

Owner: First Republic Corporation of America
Contract Format: Owner’s Representative

Objective:
The Holder Group was initially retained by the project
developer to determine if the Construction Management
firm they had engaged were providing a cost effective
solution for the construction of this hotel.

• Review of the Guaranteed Maximum price of $14,100,000
• Analysis of the subcontractor bids received
• Comparative cost analysis based on similar projects completed

Outcome:
As a result of the initial cost analysis and The Holder Group’s projected cost of $10,500,000 the Construction Management firm was released from their contract.  The project was re-bid to local general contractors.  The Holder Group was then engaged as the project’s Owner’s Representative responsible for the following aspects for management of the project:
• Issue RFP to local general contracting firms
• Administration of the bid process including bid analysis and recommendations for contract award based on a lump sum amount of $10,300,000
• Cost savings realized $3,700,000
• Management of the A/E firms including oversight of their construction administration efforts
• Monitor costs via review of GC payment applications and change order analysis
• Track job progress via weekly review of the GC’s construction schedule, lead time issues, fabrication progress, delivery schedules, etc.
• Control of project documentation via preparation of agendas, meeting minutes, RFI and submittal logs, purchasing and change order logs

Additionally, The Holder Group assisted our client in providing the following services:

• Specification, bidding and purchasing of Fixtures, Furnishings and Equipment (FF&E)
• Liaison with the lending institution representative and outsourced inspection firm
• Coordination and implementation of franchise requirements and approval
• Monthly progress reporting to the developer’s Board of Directors