[trueviking]

^ sure but what is that everything that was grandfathered? stair handrails? Many things can be grandfathered even with a redevelopment.

That estimate certainly does include an entirely new mechanical and electrical system, but that is not 'bringing it up to code'.

There's no question that there are unknowns that might add cost. That's why you have contingencies built into the budget.

I can guarantee you that either this estimate was done to as part of a project that was being worked on or it was pulled out of someone's butt...