Hi, I'm looking to develop a piece of land into a multifamily for sale investment of what is currently a parking lot to a 5/1 ~100 unit complex in Seattle.
I'm currently talking with and engaging the consultants I will need and have found Architects fees varying widely. I know there are some major unknowns like a design review process involved, but does anyone have an opinion on what typical design fees are. I have seen everything from as low as 2% of estimated construction cost to as high as 6% most are resistant to any fixed fee and want hourly for at least a portion of the work. I'm skeptical and it is making it difficult to plan and budget these expenses. Any insights or resources you use to check these types of design clients in the market? Is it really going to go as high as 6% if I work with one of the lower estimates that has these hourly design services phases?
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