April 23. By Dave Yochum. The winning bid for construction of the $25 million Cain Center for the Arts in downtown Cornelius has come in at $16 million—some $2 million less than expected.
The winning bidder, Charlotte-based Edifice General Contractors, is one of the top commercial builders in the Southeast and one of the top 400 in the nation according to Engineering News-Record.
Groundbreaking is May 14
Edifice has a track record in municipal, faith-based and large corporate projects.
“We could not be more excited to have received the price that we did,” said Mayor Woody Washam.
Endowment fund
Ground-breaking is May 14.
The $2 million budget savings will be placed into a capital endowment, according to Justin Dionne, executive director of the Cain Center.
“The endowment fund will help to insure that the future maintenance and upkeep of the building will be covered which is very important to plan for,” Washam said.
The giving side
Led by a $5 million gift from Cornelius residents Bill and Ericka Cain, the Cain Center has more than $18 million in hand or pledged, including $1 million from Mecklenburg County.
Bill, Ericka Cain
More than 600 individuals, families, and businesses community members have also donated to the project.
The project budget shapes up this way on the cost side:
—Building Construction: $18,400,000 (contract construction costs are now $16 million)
—Equipment & Furnishings: $2,500,000
—Professional Services: $2,000,000
—Administrative Costs: $600,000
—Land Purchase: $1,500,000
“This thing can fly and over time it can make money.”
Wessling
—Greg Wessling, president
Board of Directors
Cain Center for the Arts
