Initial cost forecasting model of mid-rise green office buildings

Abstract

ABSTRACT Green building has witnessed significant growth in the North American market in recent years. Since the construction cost of green office buildings represents a significant impact on the life cycle costs in office buildings in North America, and since green building costs are still not well understood by building owners, a linear regression model is developed in this study to enable office building owners to predict the initial cost based on the structural and envelope materials used. A multi-regression model is then developed to forecast the initial construction cost based on the use of different combinations of materials, such as concrete and steel, for the envelope and structural systems. This model estimates the cost per square foot of mid-rise office buildings according to specified predictor parameters such as building structural system, number of floors, total floor area, and floor height. The process followed modal development consists of three main phases: preliminary quality diagnostics of gathered data, model development, and model testing and validation. This model can assist office building owners in estimating the initial cost of new buildings using green structural and envelope systems, and to provide decision support in the selection among alternatives from the economic point of view.