Budget estimator
What will this space cost to build?
An order-of-magnitude construction budget on current Metro Vancouver rates, net of a landlord allowance by asset class. Not a quotation — but enough to tell you whether the deal in front of you is fundable.
Slider or exact figure — both work.
Allowances vary by asset class, not by market. Yours is whatever the work letter says.
The rates behind the estimator
Published here in full so you can check the assumptions rather than trust a black box. All figures are hard construction cost per square foot, current for September 2026.
| Space type | Hard cost / sq ft |
|---|---|
| Office — Class B / refresh | $120 – $190 |
| Office — Class A / full build-out | $180 – $300 |
| Retail & showroom | $110 – $250 |
| Medical & dental | $200 – $350 |
| Restaurant & café | $220 – $450 |
| Fitness & studio | $130 – $250 |
| Industrial — warehouse side | $60 – $120 |
| Industrial — office within | $130 – $200 |
Landlord allowance ranges by asset class. The single most common budgeting error we see is applying a downtown Class A allowance to suburban Class B space.
| Asset class | Allowance / sq ft |
|---|---|
| Suburban office (Class B/C) | $40 – $65 |
| Downtown office (Class A) | $60 – $80 |
| Retail — street level | $30 – $50 |
| Retail — mall / CRU | $40 – $70 |
| Industrial / flex | $15 – $30 |
Condition multipliers: existing fit-out ×0.65, base building shell ×1.0, full gut or change of use ×1.2.
Finish multipliers: functional ×0.85, standard ×1.0, elevated ×1.3.
The comparison worth making
A downtown Class A allowance of roughly $77 per square foot sits against a Vancouver office fit-out averaging $199 per square foot in hard construction cost alone. A tenant funds well over half of a standard office build-out out of pocket — considerably more once furniture, IT and audio-visual are counted. Any plan treating the allowance as covering the work is short by a factor of two.
About this estimator
How accurate is this estimator?
It is an order-of-magnitude tool, not a quotation. It applies published Metro Vancouver rate ranges to your area and adjusts for starting condition and finish level. Real projects vary with existing conditions, service capacity and what a change of occupancy triggers — none of which a calculator can see.
Does the estimate include furniture, IT and professional fees?
No. The construction figure is hard construction cost only. The all-in figure applies a 1.5 times multiplier, consistent with Cushman & Wakefield's published worked example, which adds soft costs, IT, audio-visual, furniture and contingency. GST is excluded throughout.
Why does the estimator subtract a landlord allowance?
Because the number that matters to a tenant is what they fund, not what the work costs. Most estimators show gross construction cost and stop there. Allowances vary by asset class rather than by market, so the tool asks which one applies rather than applying a single blended figure.
What is a typical tenant improvement allowance in Metro Vancouver?
Suburban Class B and C office typically runs $40–$65 per square foot, downtown Class A $60–$80, retail $30–$70 depending on format, and industrial $15–$30. Avison Young reported a Q4 2025 Metro Vancouver weighted average of $77.49 per square foot, which reflects Class A office and should not be applied to suburban space.
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Want the real number?
Send the unit, the square footage and your target opening date. We will price it against the actual space rather than a rate table.