Many of us have been wondering about the cost of the proposed children’s museum
We found this article “10 STEPS TO STARTING A MUSEUM” interesting.
Item 5 on the list says this:
Do the numbers. Starting a museum is very expensive, as a rule of thumb, the exhibition space is half of the overall space, a 4500 exhibition space becomes a 9000 square ft building at $200 per square foot of new construction is $1.8 million dollars, plus approximately, $150 to fit out the gallery spaces, $675,000, total $2,475,000 in start up costs plus operating costs.
The article tells us to plan for costs of $200 per square foot to build the building and another $150 per square foot for the exhibits.
According to a recent article in El Paso Times the current plan is to build an 80,000 square foot facility.
80,000 times $350 per square feet comes to $28 million dollars.
Approaching the numbers from a different direction, if they actually build the museum for the current budget amount of $60 million, the cost per foot will be $750 per square foot.
The article goes on to suggest that operating costs will be about $40 per square foot per year. That would mean a $3.2 million budget will be needed. The Times article told us that the anticipated budget will be $2.5 million per year.
We deserve better