Vertex project manager Chris Eberly noted on Tuesday that the Charleswood School project is “overall in a very good place,” with $31 million more available than originally anticipated.

The Elementary School Building Committee met via Zoom, and members asked why there was significant overage at this point in the process.

Eberly replied that estimates were done at the height of COVID, when inflation was skyrocketing, and the anticipation was that costs would continue to escalate.

Instead, Eberly said, the construction market is “softening,” as the bids are going out and firms are eager to “lock in a good project.”

The construction bid of $103,685,224 represented a decrease of the approximate estimate of $124,000,000.

“I’m shocked at the bid results for Charleswood,” the project manager said. He noted that it is not the case elsewhere for school projects, with some bids coming in at or above what is expected.

“Hopkinton had to sit in a perfect storm,” he said, and get “excellent results.”

ESBC chair Jon Graziano said the level of good news gives “room for change orders as well as delivery of savings to the town.”

He urged caution, however, noting there is a long way to go on the project.

Graziano said he did not want to make promises, but “it is looking more favorable than general economic conditions would indicate.”

“There is no way to undersell it. The town is going to get a great project at a very reasonable cost,” Eberly said.

Lower bid means less reimbursement

In a related matter, Eberly noted the lower construction costs means the total reimbursement grant from the Massachusetts School Building Authority also would be less than originally anticipated.

“The MSBA shares in the cost but also in savings,” he said.

Eberly said he had not had the experience of dealing with MSBA when there is such a significant savings and was unsure how the organization would handle it. The process for the Project Funding Agreement (PFA) kicks off in August.

Road improvements contract awarded

Street improvements do not receive reimbursement from the MSBA.

Related to that, the committee voted unanimously (5-0) to grant a contract totaling $1,415,224 to J.H. Lynch & Sons for Hayden Rowe Street improvements.

That contract is contingent on successful negotiations as well as certification from the Massachusetts Department of Transportation (MassDOT).

Eberly said his company had worked with that firm in the past and had positive results.

He also noted that contractor Brait Builders Corp. is eager to start work on the project, but first, “significant restrictions” put forth by the Conservation Commission must be addressed.

Submittals of a construction management plan, documents on how sequencing will work and plans for erosion control and dealing with invasive species are among the issues.

“We’re pushing hard, checking all the boxes before going into construction. … Once we clear hurdles, we’ll be on a more stable, consistent path,” Eberly said.

Eberly said that he heard the town is soliciting a peer reviewer, as the Conservation Commission and town planner want a third party to “keep its eyes and ears on the project, given its size.”

He said there always is a potential for the project to be delayed, but he does not think that will be the case.

Graziano said it is an enjoyable stage of the project to see work beginning on the site.

“I look forward to seeing it progress,” he said.

ESBC approves invoice payments

The board also approved invoices totaling $1.5 million, with the bulk of that ($1 million) going to Brait Builders Corp. to buy the project bonds and $302,189 to Cabot Risk Strategies for builders’ risk insurance.