FACT: Costs for Virginia Beach schools are comparable to others across the Commonwealth.
Old Donation School, which is a K-8 school, at $223.99 per square foot, was slightly higher than the statewide averages of $218.82 for elementary schools and $211.41 for middle schools the year it opened. However, Kellam High School at $167.86 per square foot for the building cost, was the least expensive high school constructed in the Commonwealth between 2008 and 2017, during which time 21 high schools were constructed. It’s also important to keep in mind that Virginia Beach has made a commitment to build sustainable schools, which is resulting in a $5 million savings each year to the school division.
When comparing school construction costs, it’s important to compare apples to apples. There are three different costs associated with building schools: 1) building cost; 2) construction cost (building and site); and 3) project costs (building, land acquisition, site improvements and other costs such as design, furniture and equipment or contingencies). The industry standard, both in Virginia and nationally, is to publish the construction cost. Since schools are built in different years, it is also important to adjust for inflation, which has historically averaged 4 to 5 percent a year. And, it’s also important to consider that land might cost more in certain cities. Next time you hear a cost comparison, check to see if the same costs are being compared and whether inflation is factored into the calculation.